Open AccessDesign of coordination mechanisms for price anticipatory transactive microgrids
Author(s) -
Akter Most Nahida,
Mahmud Md Apel,
Haque Md Enamul,
Oo Amanullah M. T.
Publication year - 2020
Publication title -
iet generation, transmission and distribution
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.92
H-Index - 110
eISSN - 1751-8695
pISSN - 1751-8687
DOI - 10.1049/iet-gtd.2019.0953
Subject(s) - microgrid , transactive memory , environmental economics , computer science , mechanism (biology) , microeconomics , business , operations research , economics , engineering , control (management) , philosophy , epistemology , artificial intelligence , knowledge management
In this study, coordination mechanisms are designed for price anticipatory transactive microgrids. The mechanisms are designed by considering the neighbourhood energy transactions among different consumers in a residential microgrid as well as energy trading among several microgrids within an area. The energy trading framework among different consumers in a microgrid is developed based on a non‐cooperative leader–follower game theoretic approach to maximise the utilities of both sellers and buyers. The energy transactions among different parties within a microgrid are defined, in this study, as intra‐microgrid energy trading. A double‐auction mechanism is used for energy trading among different microgrids where energy shortage and excess information from each microgrid are coordinated. The proposed mechanisms are developed by considering the physical properties of microgrids, e.g. power flow and voltage variations. The performance of the proposed mechanism is evaluated through the investigation of different properties, e.g. individual rationality of participants, budget balance, operational efficiencies in terms of cost saving, and optimality to achieve the grid independency.