Fraudulent balancing operation strategy for multi-agent P2P electricity trading considering neighborhood scene public energy storage

Min Dong, Juan Su, Jing Zhao, Yanjun Dong and Songhuai Du

Applied Energy, 2024, vol. 375, issue C, No S0306261924012923

Abstract: The novel energy storage serves as a crucial infrastructure and a key enabling technology in shaping a new power system and advancing the green and low-carbon energy transformation. It stands as a vital support for achieving the dual-carbon strategy. In response to the high cost of deploying distributed energy storage and the potential for fraudulent behaviors in transactions, this research proposes an optimized operational strategy for fraudulent balancing in electricity trading considering the neighborhood scene public energy storage, taking into account potential fraudulent behaviors by market participants. Firstly, this research establishes a comprehensive framework for the joint operation of neighborhood scene public energy storage and multiple microgrids (MMG), developing the operational cost models for both MMG and public energy storage unit (PESU). Secondly, drawing upon the Nash bargaining theory, a cost minimization model is formulated to guide the collaborative operation of MMG and PESU. In addition, a transaction model is constructed to maximize profit distribution while considering fraudulent behaviors among market members. Finally, design a numerical example and solve it using the alternating direction method of multipliers (ADMM), the calculations suggest that the implementation of peer-to-peer (P2P) energy trading can increase the overall benefit by 65.45%, while the incorporation of PESU can boost the overall benefit by 49.93%, the fraudulent balancing model guarantees a sense of fairness in energy transactions. Addressing the potential obstacles to model expansion, further strategies involving the method of secondary distribution and setting an initial quotation range have been proposed to balance the fraudulent benefits among various entities and enhance participant enthusiasm. The fraudulent balancing strategy presented in this paper facilitates the achievement of fraud-balanced trading and maximization of profits among multi-energy entities, demonstrating considerable economic efficacy and high potential for widespread adoption.

Keywords: Alternating direction method of multipliers; Energy transaction; Fraudulent balancing; Nash bargaining theory; Public energy storage (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0306261924012923
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:appene:v:375:y:2024:i:c:s0306261924012923

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/journaldescription.cws_home/405891/bibliographic
http://www.elsevier. ... 405891/bibliographic

DOI: 10.1016/j.apenergy.2024.123909

Access Statistics for this article

Applied Energy is currently edited by J. Yan

More articles in Applied Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().