A game theoretic framework for a next-generation retail electricity market with high penetration of distributed residential electricity suppliers

Wencong Su and Alex Q. Huang

Applied Energy, 2014, vol. 119, issue C, 350 pages

Abstract: This paper proposes an innovative game theoretic framework for a next-generation retail electricity market (“Energy Internet”) with high penetration of distributed residential electricity suppliers (“Energy Cells”). The envisioned Energy Internet is developed for plug-and-play of a large number of distributed renewable energy generation and energy storage. The residential customers, referred as Energy Cells, are not only the electricity consumers but can also be the electricity suppliers by locally operating and managing their own distributed generators, distributed energy storage devices, and dispatchable loads. This paper formulates a set of mathematical models of the retail electricity market participants with a number of local and global constraints. A numerical case study is performed to validate the proposed next-generation retail electricity market framework using game-theoretic methodologies. The numerical simulation results demonstrate the effectiveness of the proposed market clearing scheme with high penetration of distributed residential electricity suppliers.

Keywords: Smart Grid; Energy Management; Distribution system; Electricity market; Game theory; Renewable energy (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (39)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:appene:v:119:y:2014:i:c:p:341-350

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DOI: 10.1016/j.apenergy.2014.01.003

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