 A multi-objective bi-level framework to model distribution system operator's behavior in the wholesale and local transactive marketsHamid Karimi and Ehsan Heydarian-Forushani Energy, 2024, vol. 312, issue C Abstract: This paper presents a multi-objective bi-level framework to model the distribution system operator's (DSO's) behavior in both wholesale and local electricity markets. The upper level is a multi-objective optimization problem from the DSO point of view including operation cost minimization, flexibility maximization, and peak load minimization. To this end, the DSO could not only participate in the wholesale electricity market at both day-ahead and real-time stages, but also is able to purchase power from renewable generations as well as the private owners. In this regards, the DSO could manage fluctuations of renewable power generations through considering flexibility as an objective function along with cost and peak-shaving. The lower level assigns to the private owner's profit maximization through interactions with the DSO. The DSO also exploits the demand response potential by implementing load shifting programs. The obtained results reveal that the proposed model could reduce the peak load by 6.05 MW and enhance the system flexibility level by 88 %. Keywords: Transactive energy; Distribution system operator; Renewable energy resources; Battery storage system; Power system flexibility (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:312:y:2024:i:c:s036054422403473x DOI: 10.1016/j.energy.2024.133695 Access Statistics for this article Energy is currently edited by Henrik Lund and Mark J. Kaiser More articles in Energy from Elsevier |
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