Trading Strategies for Distribution Company with Stochastic Distributed Energy Resources.

Chunyu Zhang, Qi Wang, Jianhui Wang, Magnus Korpås, Pierre Pinson, Jacob Østergaard, Mohammad E. Khodayar

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Abstract

This paper proposes a methodology to address the trading strategies of a proactive distribution company (PDISCO) engaged in the transmission-level (TL) markets. A one-leader multi-follower bilevel model is presented to formulate the gaming framework between the PDISCO and markets. The lower-level (LL) problems include the TL day-ahead market and scenario-based real-time markets, respectively with the objectives of maximizing social welfare and minimizing operation cost. The upper-level (UL) problem is to maximize the PDISCO's prot across these markets. The PDISCO's strategic oers/bids interactively in uence the outcomes of each market. Since the LL problems are linear and convex, while the UL problem is non-linear and non-convex, an equivalent primal-dual approach is used to reformulate this bilevel model to a solvable mathematical program with equilibrium constraints (MPEC). The effectiveness of the proposed model is veried by case studies.
Original languageEnglish
JournalApplied Energy
Volume177
Pages (from-to)625-635
ISSN0306-2619
DOIs
Publication statusPublished - 2016

Keywords

  • Distributed energy resources (DERs)
  • Proactive distribution company (PDISCO)
  • Electricity markets
  • Bilevel game-theoretic model

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