Cooperative energy and reserve trading strategies for multiple integrated energy systems based on asymmetric nash bargaining theory

Biao Wu, Shaohua Zhang, Chenxin Yuan, Xian Wang, Fei Wang and Shengqi Zhang

Energy, 2024, vol. 313, issue C

Abstract: To tackle the issues of cooperative energy and reserve trading as well as fair cooperative benefit allocation among multiple integrated energy systems (IESs), this paper proposes a two-stage cooperative energy and reserve trading model for multiple integrated energy systems (MIESs). Specifically, at day-ahead stage, MIESs aim to maximize their overall profit through cooperative electricity and heat trading. At real-time stage, MIESs trade demand response (DR) reserve to minimize the overall wind power deviation compensation cost. To reduce the complexity in model solution, we transform the model into two sub-problems. In sub-problem 1, we determine the energy and DR reserve trading volumes. Here, distributionally robust optimization (DRO) is utilized to manage the severe uncertainties in wind power distribution. In sub-problem 2, based on the outcomes from sub-problem 1, we settle the energy and DR reserve trading prices. To ensure the fairness of benefit allocation, asymmetric Nash bargaining theory is applied to assess each IES's contributions in trading volumes and profit growth. Interval adaptive alternating direction method of multipliers (IA-ADMM) is used to preserve each IES's privacy. Finally, simulation results demonstrate that, compared with independent operation, cooperative trading among MIESs increases profits for all IESs, thereby motivating their participation in cooperative trading.

Keywords: Cooperative trading; Multiple integrated energy systems; Distributionally robust optimization; Asymmetric nash bargaining theory; Interval adaptive alternating direction multipliers method (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0360544224034819
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:energy:v:313:y:2024:i:c:s0360544224034819

DOI: 10.1016/j.energy.2024.133703

Access Statistics for this article

Energy is currently edited by Henrik Lund and Mark J. Kaiser

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