Fair trading strategy in multi-energy systems considering design optimization and demand response based on consumer psychology

Li Li, Shuai Fan, Jucheng Xiao, Huan Zhou, Yu Shen and Guangyu He

Energy, 2024, vol. 306, issue C

Abstract: Multi-energy systems can complement and convert various energy sources, bring opportunities and challenges to community energy markets. However, energy system configuration and trading prices change as a result of demand response behavior interventions and have a reverse effect on them, which is generally ignored. Therefore, it is necessary to provide an energy trading strategy that considers interactions between the supply and demand sides. To this end, this study proposes a holistic approach for electricity, cooling and heating trading, which is based on the Nash-type game to guarantee energy trading fairness under such interactions. The integrated demand response model is established considering uncertainty based on consumer psychology, where the capacity of flexible energy demand is a critical decision variable influenced by the supply side. Based on this, the design optimization model of multi-energy systems is developed, where commonly used energy supply technologies are considered. The impact of interaction with the demand side on the design optimization of multi-energy systems is highlighted. The case study shows that the energy retailer can avoid sacrificing 21 % of its profits to achieve 9 % energy cost savings for the demand response aggregator considering trading fairness; both players have better economic performance when demand-side interactions are considered.

Keywords: Multi-energy system; Stochastic programming; Integrated demand response; Consumer psychology; Game theory (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:306:y:2024:i:c:s0360544224021674

DOI: 10.1016/j.energy.2024.132393

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