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In this paper, we present a market-based resilient power management procedure for electrical distribution systems consisting of multiple cooperative MiroGrids (MGs). Distributed optimization is used to find the optimal resource allocation for the multiple MG system, while maintaining the local and global constraints, including keeping the voltage levels of the micro-sources within bounds. The proposed method is based on probabilistic reasoning in order to consider the uncertainty of the decision model in preparation for expected extreme events and in case of unit failure, to improve the resiliency of the system. Basically, the power management problem formulation is a multiobjective optimization problem, which is solved using the concept of Nash Bargaining Solution (NBS). The simulation results show that the proposed method is able to improve the resiliency of the system and prepare it for extreme events and unit failure, by increasing power reserve and modifying the operating point of the system to maintain voltage and power constraints across the MGs. [ABSTRACT FROM AUTHOR]

This paper presents an overview of our body of work on the application of smart control techniques for the control and management of microgrids (MGs). The main focus here is on the application of distributed multi-agent system (MAS) theory in multi-objective (MO) power management of MGs to find the Pareto-front of the MO power management problem. In addition, the paper presents the application of Nash bargaining solution (NBS) and the MAS theory to directly obtain the NBS on the Pareto-front. The paper also discusses the progress reported on the above issues from the literature. We also present a MG-based power system architecture for enhancing the resilience and self-healing of the system. [ABSTRACT FROM AUTHOR]

Due to uncertainties in generation and load, optimal decision making in electrical energy markets is a complicated and challenging task. Participating agents in the market have to estimate optimal bidding strategies based on incomplete public information and private assessment of the future state of the market, to maximize their expected profit at different time scales. In this paper, we present an agent-based model to address the problem of short-term strategic bidding of conventional generation companies (GenCos) in a power pool. Based on the proposed model, each GenCo agent develops a private probabilistic model of the market (using dynamic Bayesian networks), employs an online learning algorithm to train the model (sparse Bayesian learning), and infers the future state of the market to estimate the optimal bidding function. We show that by using this multiagent framework, the agents will be able to predict and adapt to approximate Nash equilibrium of the market through time using local reasoning and incomplete publicly available data. The model is implemented in MATLAB and is tested on four test case systems: two generic systems with 5 and 15 GenCo agents, and two IEEE benchmarks (9-bus and 30-bus systems). Both the day-ahead (DA) and hour-ahead (HA) bidding schemes are implemented. The results show a drop in market power in the 15-agent system compared to 5-agent system, along with a Pareto superior equilibrium in the HA scheme compared to the DA scheme, which corroborates the validity of the proposed decision making model. Also, the simulations show that introduction of an HA decision making stage as an uncertainty containment tool, leads to a more stable and less volatile price signal in the market, which consequently results in flatter and improved profit curves for the GenCos. [ABSTRACT FROM PUBLISHER]