Multi-Objective Approach for Managing Uncertain Delivery from Renewable Energy Sources within a Peer-to-Peer Energy Balancing Architecture

Mariusz Drabecki and Eugeniusz Toczyłowski
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Mariusz Drabecki: Institute of Control and Computation Engineering, Warsaw University of Technology, 15/19 Nowowiejska Str., 00-665 Warszawa, Poland
Eugeniusz Toczyłowski: Institute of Control and Computation Engineering, Warsaw University of Technology, 15/19 Nowowiejska Str., 00-665 Warszawa, Poland

Energies, 2022, vol. 15, issue 3, 1-22

Abstract: On the energy markets, conscious customers may exist who are not only interested in minimising the cost of energy purchase, but, simultaneously, in optimising some other quality criteria (arising from ecological concerns, or social responsibility of the energy producers). In this paper, we develop both a mathematical optimisation problem and a market framework for balancing a power system in a peer-to-peer market setup, where product differentiation can be considered directly on the market. Thus, origins of energy may be clearly identified, and product quality characteristics can be understood by various actors (including households). We derive a multi-objective (mixed-integer) linear programming optimisation problem for balancing the energy system in a peer-to-peer energy trading environment, where not only the cost but also other additional quality criteria are considered. We have identified many possible actors to be present within the proposed market setup. They include consumers, producers, brokers and flexible prosumers with storage. The approach was tested on the IEEE 30-bus standard test system, over three different scenarios, by analysing the impact of various actors/peers activities and different extensions. It has been shown that a multi-objective energy balancing scheme may be developed through crafted optimisation problem and that each type of studied peers may bring some added value to the power system balancing.

Keywords: peer-to-peer energy sharing; energy trade; energy policy; market architecture; product differentiation; multi-commodity offers; network constraints; multi-objective optimisation (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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