Distributed Optimal Power Management via Negawatt Trading in Real-Time Electricity Market

Okawa, Yoshihiro; Namerikawa, Toru

doi:10.1109/tsg.2017.2705291

Cited by 42 publications

(21 citation statements)

References 15 publications

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“…VPPs can coordinate and orchestrate responsive demands to integrate them in the two-sided market, and provide new value streams to customers and other stakeholders. By being aggregated Australia DR program [68] [8], [9], [10], [11], [12], [13], [14], [15] , [16], [17], [55], [57], [60], [61], [62], [63], [64], [65], [66] VPP [6], [18], [19], [20], [21], [22], [70], [71], [72], [74], [75], [76], [ [23], [24], [25], [26], [27], [40], [85], [86], [88], [89], [90], [91], [92], [93] , [94], [95], [96], [97],…”

Section: Discussionmentioning

confidence: 99%

“…A blockchain-based negawatt trading platform is proposed in [65], in which buildings can offer their demand reduction to a DR aggregator. In [66], incentive prices are employed to procure negawatt from consumers to manage This work is licensed under a Creative Commons Attribution 4.0 License. For more information, see https://creativecommons.org/licenses/by/4.0/ This article has been accepted for publication in a future issue of this journal, but has not been fully edited.…”

Section: ) Overviewmentioning

confidence: 99%

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Paving the Path for Two-Sided Energy Markets: An Overview of Different Approaches

et al. 2020

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The transition in the energy sector, initiated by increasing uptake of distributed energy resources (DER) and grid digitization, provides opportunities to improve energy efficiency through electricity market reformation. The development of a two-sided market allows delivering benefits of improved efficiency to energy customers. This paper discusses the opportunities and challenges related to transitioning to a two-sided energy market. The drivers to move toward a two-sided market, the benefits that this market can provide for different stakeholders, and enabling technologies for this transition are studied. An overview of different approaches that lay the groundwork for two-sided markets, including demand response (DR), virtual power plants (VPPs), peer-to-peer (P2P) trading, and transactive energy (TE) is provided. A classification of different approaches, along with examples of academic and industrial works, are presented to give some insights on the way each approach can pave the path to the market reformation. Finally, different approaches are compared and some of the challenges that need to be addressed in future works are identified. INDEX TERMS Demand response, distributed energy resources (DER), negawatt trading, peer-to-peer (P2P) trading, transactive energy (TE), two-sided market, virtual power plant (VPP).

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Section: Discussionmentioning

confidence: 99%

Section: ) Overviewmentioning

confidence: 99%

Paving the Path for Two-Sided Energy Markets: An Overview of Different Approaches

et al. 2020

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“…Dual decomposition is used in [31] to decompose energy management problem in smart grid to several subproblem which are locally solvable by smart grid elements. Lagrangian or Karush–Kuhn–Tucker multipliers are also widely used for augmenting objective function in optimisation problems in local energy trading by adding constraints to the objective function [31–37, 44, 45, 50, 53–57, 60, 61, 63–65, 83].…”

Section: Overview Of Different Market Clearing Approachesmentioning

confidence: 99%

Market framework for local energy trading: a review of potential designs and market clearing approaches

Khorasany

Mishra

Ledwich

2018

IET Generation, Transmission & Distribution

174

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“…Therefore, the customer is not sensitive to changing the unit price of electricity, and at present, one can only expect price elasticity of about −0.1 [37]. In other words, DR based on price is not a big adjustment of power in negawatt trading [38], and DR that forces load reduction is a cause of dissatisfaction.…”

Section: Price Elasticitymentioning

confidence: 99%

Optimal Operation Method for Distribution Systems Considering Distributed Generators Imparted with Reactive Power Incentive

et al. 2018

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Featured Application: The incentive method with flexible contribution functions can be applied to demand response by the reactive power market and distribution company, which has the possibility to reduce the additional installation of distribution control equipment and battery capacity. It also leads to the reduction of total electricity purchase cost of consumers, and the power system can achieve high mixing of renewable energy in the grid with the reactive power incentive demand response and the IoT development. Furthermore, reliability assessment of cooperative control with the participation rate will give an important contribution to the robust design of the system. Abstract: In order to solve urgent energy and environmental problems, it is essential to carry out high installation of distributed generation using renewable energy sources (RESs) and environmentally-friendly storage technologies. However, a high penetration of RESs usually leads to a conventional power system unreliability, instability and low power quality. Therefore, this paper proposes a reactive power control method based on the demand response (DR) program to achieve a safe, reliable and stable power system. This program does not enforce a change in the active power usage of the customer, but provides a reactive power incentive to customers who participate in the cooperative control of the distribution company (DisCo). Customers can achieve a reduction in their total energy purchase by gaining a reactive power incentive, whilst the DisCo can achieve a reduction of its total procurement of equipment and distribution losses. An optimal control schedule is calculated using the particle swarm optimization (PSO) method, and also in order to avoid over-control, a modified scheduling method that is a dual scheduling method has been adopted in this paper. The effectiveness of the proposed method was verified by numerical simulation. Then, simulation results have been analyzed by case studies.

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Distributed Optimal Power Management via Negawatt Trading in Real-Time Electricity Market

Cited by 42 publications

References 15 publications

Paving the Path for Two-Sided Energy Markets: An Overview of Different Approaches

Paving the Path for Two-Sided Energy Markets: An Overview of Different Approaches

Market framework for local energy trading: a review of potential designs and market clearing approaches

Optimal Operation Method for Distribution Systems Considering Distributed Generators Imparted with Reactive Power Incentive

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