Implementing multi-settlement decentralized electricity market design for transactive communities with imperfect communication

Monish Mukherjee, Trevor Hardy, Jason C. Fuller and Anjan Bose

Applied Energy, 2022, vol. 306, issue PA, No S0306261921012824

Abstract: The ubiquitousness of the low cost Information & Communication Technologies (ICT) provides strategic opportunities for the “prosumers”, customers that both consume and produce energy, to have a more proactive role in system operation. From an operational perspective, though, this creates additional challenges in managing power distribution networks due to such active grid-edge systems with limited to no visibility or control by the utilities. Transactive Energy (TE) has been emerging as a key enabler towards efficiently coordinating prosumers through market based constructs thereby encouraging more consumer-centric economies. However, communication-based controls are susceptible to losses in information or message delays, potentially de-synchronizing solutions. This work presents a transactive implementation of a community-based electricity market design based on a multi-settlement decentralized coordination strategy. The coordination mechanism presents an algorithm that provides robustness to communication delays. A co-simulation framework is developed for evaluating the proposed market structure with high-fidelity models and delay-prone communication systems. Case studies on the IEEE-123 node test system demonstrate the feasibility of the proposed community-based TE architecture to collaboratively operate prosumer-communities as grid-edge systems and quantifies their potential benefits.

Keywords: Transactive energy; Microgrid; Retail markets; Day-ahead markets; Real-time markets; Grid-edge systems; Co-simulation; Distributed optimization; Consensus mechanism; Communication system (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1016/j.apenergy.2021.117979

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