1. Coordinated P2P electricity trading model with aggregated alliance and reserve purchasing for hedging the risk of deviation penalty
- Author
-
Bin Zhang, Weizhen Yong, Tang Zhiwei, Jianxue Wang, Zelong Lu, and Yang Meng
- Subjects
020209 energy ,media_common.quotation_subject ,P2P market ,02 engineering and technology ,Product differentiation ,Peer-to-peer ,computer.software_genre ,Microeconomics ,020401 chemical engineering ,0202 electrical engineering, electronic engineering, information engineering ,0204 chemical engineering ,media_common ,Market design ,business.industry ,Mobile energy storage ,Multivariable calculus ,Bilateral trading ,Reserve purchase ,Purchasing ,General Energy ,Alliance ,Distributed generation ,Electricity ,Deviation penalty ,lcsh:Electrical engineering. Electronics. Nuclear engineering ,business ,Welfare ,computer ,lcsh:TK1-9971 - Abstract
The increasing of distributed energy and flexible load incentivize market participants to participate in a more active market. A coordinated peer to peer (P2P) trading model with an aggregated alliance and reserve purchasing is proposed in this paper. Under such a coordinated trading model, the market participants form an alliance, where the agents perform aggregated alliance and purchase reserve from a mobile energy storage supplier. To reduce the risk of deviation penalty in P2P trading, the agents seek to maximize the welfare of the entire alliance in the P2P process, while considering product differentiation and deviation risks. The proposed trading model design comprises: (i) a coordinated P2P market design with the aggregated alliance and reserve purchasing, (ii) a two-stage P2P market-clearing model to maximize trading utility while reducing the risk of deviation. To solve this two-stage multivariable coupling problem in a distributed way, we propose a primal–dual based ADMM method. Through the case study, compared with the traditional P2P trading model, the proposed market model can reduce the deviation penalty and improve the comprehensive welfare, while the convergence can be effectively guaranteed.
- Published
- 2021