Shapley value cooperative game theory-based locational marginal price computation for loss and emission reduction

Veeramsetty, Venkataramana

doi:10.1186/s41601-021-00211-0

Cited by 14 publications

(6 citation statements)

References 36 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Reasonable locational marginal prices can facilitate optimal electricity system operation [26]. Therefore, the locational marginal price is defined in this paper as the average of the marginal electricity consumption benefit F D on the electricity consumption side and the marginal generation cost F G on the generation side per unit load increment, as: where α i,k is the unit bidding price, D t is the marginal benefit on the customer side, and P D t is the demand for electricity on the customer side.…”

Section: Upper Level Optimization Processmentioning

confidence: 99%

Bi-level optimization based two-stage market clearing model considering guaranteed accommodation of renewable energy generation

Lin

Chen

et al. 2022

Prot Control Mod Power Syst

View full text Add to dashboard Cite

The existing electricity market mechanisms designed to promote the consumption of renewable energy generation complicate network participation in market transactions owing to an unfair market competition environment, where the low cost renewable energy generation is not reflected in the high bidding price of high cost conventional energy generation. This study addresses this issue by proposing a bi-level optimization based two-stage market clearing model that considers the bidding strategies of market players, and guarantees the accommodation of renewable energy generation. The first stage implements a dual-market clearing mechanism that includes a unified market for trading the power generations of both renewable energy and conventional energy units, and a subsidy market reserved exclusively for conventional generation units. A re-adjustment clearing mechanism is then proposed in the second stage to accommodate the power generation of remaining renewable energy units after first stage energy allocations. Each stage of the proposed model is further described as a bi-level market equilibrium problem and is solved using a co-evolutionary algorithm. Finally, numerical results involving an improved IEEE 39-bus system demonstrate that the proposed two-stage model meets the basic requirements of incentive compatibility and individual rationality. It can facilitate the rational allocation of resources, promote the economical operation of electric power grids, and enhance social welfare.

show abstract

Section: Upper Level Optimization Processmentioning

confidence: 99%

Bi-level optimization based two-stage market clearing model considering guaranteed accommodation of renewable energy generation

Lin

Chen

et al. 2022

Prot Control Mod Power Syst

View full text Add to dashboard Cite

show abstract

“…In cooperative game theory, the SV concept is introduced to determine the fair attribution of either gain or cost to all possible coalitions (Veeramsetty, 2021). The fair attribution of SV is defined as the average of all marginal contributions of each actor in the game.…”

Section: Shapley Valuementioning

confidence: 99%

Development of Community-Based Peer-to-Peer Energy Trading Mechanism Using Z-Bus Network Cost Allocation

et al. 2022

View full text Add to dashboard Cite

Community-based peer-to-peer (P2P) energy trading is applied to manage local market transactions to maximize the social welfare of the community. However, the increasing number of distributed energy resources in distribution systems affects the performance of community-operators in P2P energy trading. Hence, this study develops a community-based P2P energy trading mechanism to ensure fair profit allocation and reduce computation cost, even with numerous participants. To achieve this, the P2P participants were aggregated into smaller groups using the K-means clustering method, allowing the community manager to perform market transactions in a hierarchical manner. In the hierarchical P2P market, social welfare maximization is performed in the higher layer and profit distribution in the lower layer. Furthermore, the Z-bus network cost allocation method was applied to determine the network usage cost and was thus considered as a parameter to ensure fair profit allocation based on the Shapley value. The proposed method was simulated in South Korean P2P energy trading at various market scales. The results showed an improvement in the proposed method compared with conventional single-layer community-based P2P energy trading.

show abstract

“…Market clearing price to take the power from the grid is considered as 47 $/MWh; this is the realistic price taken from IEX website [ 28 ]. Fuel cost coefficient for DG units and emission coefficients data for DG units and substation bus are drawn from [ 29 ]. Backward and forward sweep load flow technique [ 30 ] is used in this paper to calculate the active power losses in the distribution system.…”

Section: Analytical Studiesmentioning

confidence: 99%

Optimal placement of distributed generation based on DISCO’s financial benefit with loss and emission reduction using hybrid Jaya–Red Deer optimizer

Lakshmi

Jayalaxmi

Veeramsetty³

2022

Electr Eng

View full text Add to dashboard Cite

The optimal location of distributed generation (DG) is a critical challenge for distribution firms in order to keep the distribution network running smoothly. The optimal placement of DG units is an optimization challenge in which the objective function is to maximize distribution firms’ financial benefit owing to reduced active power losses and emissions in the network. Bus voltage limits and feeder thermal limits are considered as constraints. To overcome the problem of trapping the solution toward the local optimal point and to achieve strong local and global searching capabilities, a new hybrid Jaya–Red Deer optimizer is proposed as an optimization approach in this study to determine the best placement and size of distributed generating units. In the MATLAB environment, the suggested method is implemented on IEEE 15 and PG & E 69 bus distribution systems and validated with Red Deer Optimizer, Dragonfly Algorithm, Genetic Algorithm, Particle Swarm Optimization, Jaya Algorithm and Black Widow Optimizer. Based on the simulation results, distribution firms may operate their networks with the greatest financial advantage by properly positioning and sizing their DG units.

show abstract

Shapley value cooperative game theory-based locational marginal price computation for loss and emission reduction

Cited by 14 publications

References 36 publications

Bi-level optimization based two-stage market clearing model considering guaranteed accommodation of renewable energy generation

Bi-level optimization based two-stage market clearing model considering guaranteed accommodation of renewable energy generation

Development of Community-Based Peer-to-Peer Energy Trading Mechanism Using Z-Bus Network Cost Allocation

Optimal placement of distributed generation based on DISCO’s financial benefit with loss and emission reduction using hybrid Jaya–Red Deer optimizer

Contact Info

Product

Resources

About