Distributed Dispatch and Profit Allocation for Parks Using Co-Operative Game Theory and the Generalized Nash Bargaining Approach

Hanwen Wang, Xiang Li (), Haojun Hu and Yizhou Zhou
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Hanwen Wang: Suqian Wanda Electric Power Industry Co., Ltd., Suqian 223800, China
Xiang Li: School of Electrical and Power Engineering, Hohai University, Nanjing 211100, China
Haojun Hu: Suqian Wanda Electric Power Industry Co., Ltd., Suqian 223800, China
Yizhou Zhou: School of Electrical and Power Engineering, Hohai University, Nanjing 211100, China

Energies, 2024, vol. 17, issue 23, 1-19

Abstract: To improve the regulatory capacity of distributed resources within the park and enhance the flexibility of market transactions, this paper introduces a distributed dispatch and profit allocation method grounded in cooperative game theory and the generalized Nash bargaining framework. Initially, models for individual park equipment are established. Subsequently, a distributed dispatch model is constructed, followed by the development of a profit allocation strategy based on contribution levels, using the generalized Nash bargaining method. The model is solved using the alternating direction method of multipliers. The results show that the proposed approach achieves fast convergence, optimizes resource sharing and mutual support within the park, lowers operational costs, ensures a fairer distribution of profits, and promotes increased cooperation among park entities.

Keywords: park; electricity market; generalized Nash bargaining; cooperative game theory; ADMM algorithm (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: 2024
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