A cooperative transactive multi-carrier energy control mechanism with P2P energy + reserve trading using Nash bargaining game theory under renewables uncertainty

Ali Alizadeh, Moein Esfahani, Farid Dinar, Innocent Kamwa, Ali Moeini, Seyed Masoud Mohseni-Bonab and Eric Busvelle

Applied Energy, 2024, vol. 353, issue PB, No S030626192301526X

Abstract: Transactive Energy Control (TEC) as a market-based control is a critical notion for scheduling Multi-Carrier Energy Systems (MCESs) in local networks and forming an Energy Hub (EH). Nevertheless, implementing TEC for scheduling and controlling MCESs is extremely difficult due to the lack of a cooperative TEC model that accounts for network constraints and the uncertainty of Renewable Energy Sources (RESs). This paper defines and formulates Prosumer-Based Multi-Carrier Energy Systems (PB-MCESs), which include electricity, heat, cooling, and gas hubs to enable internal coordination of resources and flexibility extraction for PB-MCESs. Subsequently, Nash Bargaining Game Theory is employed to construct a cooperative TEC that prioritizes P2P energy trade. In addition to P2P energy trading, PB-MCESs can trade their reserve in a P2P fashion to mitigate their uncertainty. PB-MCESs estimate the level of uncertainty using stochastic programming and allot a reserve capacity based on this estimation in order to manage their uncertainty via P2P reserve trading and internal reserves. PB-MCES can also control their risk by altering their risk-taking factor in accordance with the Conditional Value-at-Risk (CVAR) index. Implementations have demonstrated that the proposed cooperative TEC decreases total costs by 17.14% and that the proposed P2P reserve trading reduces total costs by 16.32%.

Keywords: Transactive energy control; Prosumer-based multi-carrier energy systems; Energy hub; Nash bargaining game theory; Stochastic programming; Risk management; P2P trading; Conditional value-at-risk (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (6)

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DOI: 10.1016/j.apenergy.2023.122162

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