Integrating Peer-to-Peer Energy Trading of Microgrids into Deregulated Electricity Market by Cascaded Model Predictive Control

Cheng Lyu; Youwei Jia; Mengge Shi; Zhao Xu

doi:10.1109/EI252483.2021.9713576

Integrating Peer-to-Peer Energy Trading of Microgrids into Deregulated Electricity Market by Cascaded Model Predictive Control

Cheng Lyu
, Youwei Jia
, Mengge Shi
, Zhao Xu

Research output: Chapter in book / Conference proceeding › Conference article published in proceeding or book › Academic research › peer-review

1 Citation (Scopus)

Abstract

Peer-to-peer (P2P) energy trading of microgrids is considered as a promising solution in reducing the carbon emission of renewable-embedded energy systems. This paper proposes a novel energy market framework for enabling the P2P local transactions under the deregulated market environment. The proposed market model is aimed to provide a practical mechanism design to incentivize optimal P2P energy trading in the existing electricity market. A cascaded model predictive control (MPC) problem formulation is devised for both the day-ahead market and adjustment markets. Finally, numerical results demonstrate the effectiveness of the proposed framework in integrating microgrid P2P trading into the electricity market.

Original language	English
Title of host publication	5th IEEE Conference on Energy Internet and Energy System Integration
Subtitle of host publication	Energy Internet for Carbon Neutrality, EI2 2021
Publisher	Institute of Electrical and Electronics Engineers Inc.
Pages	114-118
Number of pages	5
ISBN (Electronic)	9781665434256
DOIs	https://doi.org/10.1109/EI252483.2021.9713576
Publication status	Published - Oct 2021
Event	5th IEEE Conference on Energy Internet and Energy System Integration, EI2 2021 - Taiyuan, China Duration: 22 Oct 2021 → 25 Oct 2021

Publication series

Name	5th IEEE Conference on Energy Internet and Energy System Integration: Energy Internet for Carbon Neutrality, EI2 2021

Conference

Conference	5th IEEE Conference on Energy Internet and Energy System Integration, EI2 2021
Country/Territory	China
City	Taiyuan
Period	22/10/21 → 25/10/21

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy

Keywords

electricity market
microgrids
model predictive control
Peer-to-peer energy trading

ASJC Scopus subject areas

Computer Networks and Communications
Information Systems and Management
Energy Engineering and Power Technology
Renewable Energy, Sustainability and the Environment
Electrical and Electronic Engineering

More information

10.1109/EI252483.2021.9713576

Cite this

Lyu, C., Jia, Y., Shi, M., & Xu, Z. (2021). Integrating Peer-to-Peer Energy Trading of Microgrids into Deregulated Electricity Market by Cascaded Model Predictive Control. In 5th IEEE Conference on Energy Internet and Energy System Integration: Energy Internet for Carbon Neutrality, EI2 2021 (pp. 114-118). (5th IEEE Conference on Energy Internet and Energy System Integration: Energy Internet for Carbon Neutrality, EI2 2021). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/EI252483.2021.9713576

Lyu, Cheng ; Jia, Youwei ; Shi, Mengge et al. / Integrating Peer-to-Peer Energy Trading of Microgrids into Deregulated Electricity Market by Cascaded Model Predictive Control. 5th IEEE Conference on Energy Internet and Energy System Integration: Energy Internet for Carbon Neutrality, EI2 2021. Institute of Electrical and Electronics Engineers Inc., 2021. pp. 114-118 (5th IEEE Conference on Energy Internet and Energy System Integration: Energy Internet for Carbon Neutrality, EI2 2021).

@inproceedings{d95d325af4fc4db19204d289500b7000,

title = "Integrating Peer-to-Peer Energy Trading of Microgrids into Deregulated Electricity Market by Cascaded Model Predictive Control",

abstract = "Peer-to-peer (P2P) energy trading of microgrids is considered as a promising solution in reducing the carbon emission of renewable-embedded energy systems. This paper proposes a novel energy market framework for enabling the P2P local transactions under the deregulated market environment. The proposed market model is aimed to provide a practical mechanism design to incentivize optimal P2P energy trading in the existing electricity market. A cascaded model predictive control (MPC) problem formulation is devised for both the day-ahead market and adjustment markets. Finally, numerical results demonstrate the effectiveness of the proposed framework in integrating microgrid P2P trading into the electricity market.",

keywords = "electricity market, microgrids, model predictive control, Peer-to-peer energy trading",

author = "Cheng Lyu and Youwei Jia and Mengge Shi and Zhao Xu",

note = "Funding Information: This work was supported in part by National Natural Science Foundation of China (71971183 and 72071100), Guangdong Basic and Applied Basic Research Fund (2019A1515111173), Young Talent Program (Department of Education of Guangdong) (2018KQNCX223) and High-level University Fund (G02236002). Funding Information: This work was supported in part by National Natural Science Foundation of China (71971183 and 72071100), Guangdong Basic and Applied Basic Research Fund (2019A1515111173), Young Talent Program (Department of Education of Guangdong) (2018KQNCX223) and Publisher Copyright: {\textcopyright} 2021 IEEE; 5th IEEE Conference on Energy Internet and Energy System Integration, EI2 2021 ; Conference date: 22-10-2021 Through 25-10-2021",

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series = "5th IEEE Conference on Energy Internet and Energy System Integration: Energy Internet for Carbon Neutrality, EI2 2021",

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Lyu, C, Jia, Y, Shi, M & Xu, Z 2021, Integrating Peer-to-Peer Energy Trading of Microgrids into Deregulated Electricity Market by Cascaded Model Predictive Control. in 5th IEEE Conference on Energy Internet and Energy System Integration: Energy Internet for Carbon Neutrality, EI2 2021. 5th IEEE Conference on Energy Internet and Energy System Integration: Energy Internet for Carbon Neutrality, EI2 2021, Institute of Electrical and Electronics Engineers Inc., pp. 114-118, 5th IEEE Conference on Energy Internet and Energy System Integration, EI2 2021, Taiyuan, China, 22/10/21. https://doi.org/10.1109/EI252483.2021.9713576

Integrating Peer-to-Peer Energy Trading of Microgrids into Deregulated Electricity Market by Cascaded Model Predictive Control. / Lyu, Cheng; Jia, Youwei; Shi, Mengge et al.
5th IEEE Conference on Energy Internet and Energy System Integration: Energy Internet for Carbon Neutrality, EI2 2021. Institute of Electrical and Electronics Engineers Inc., 2021. p. 114-118 (5th IEEE Conference on Energy Internet and Energy System Integration: Energy Internet for Carbon Neutrality, EI2 2021).

Research output: Chapter in book / Conference proceeding › Conference article published in proceeding or book › Academic research › peer-review

TY - GEN

T1 - Integrating Peer-to-Peer Energy Trading of Microgrids into Deregulated Electricity Market by Cascaded Model Predictive Control

AU - Lyu, Cheng

AU - Jia, Youwei

AU - Shi, Mengge

AU - Xu, Zhao

N1 - Funding Information: This work was supported in part by National Natural Science Foundation of China (71971183 and 72071100), Guangdong Basic and Applied Basic Research Fund (2019A1515111173), Young Talent Program (Department of Education of Guangdong) (2018KQNCX223) and High-level University Fund (G02236002). Funding Information: This work was supported in part by National Natural Science Foundation of China (71971183 and 72071100), Guangdong Basic and Applied Basic Research Fund (2019A1515111173), Young Talent Program (Department of Education of Guangdong) (2018KQNCX223) and Publisher Copyright: © 2021 IEEE

PY - 2021/10

Y1 - 2021/10

N2 - Peer-to-peer (P2P) energy trading of microgrids is considered as a promising solution in reducing the carbon emission of renewable-embedded energy systems. This paper proposes a novel energy market framework for enabling the P2P local transactions under the deregulated market environment. The proposed market model is aimed to provide a practical mechanism design to incentivize optimal P2P energy trading in the existing electricity market. A cascaded model predictive control (MPC) problem formulation is devised for both the day-ahead market and adjustment markets. Finally, numerical results demonstrate the effectiveness of the proposed framework in integrating microgrid P2P trading into the electricity market.

AB - Peer-to-peer (P2P) energy trading of microgrids is considered as a promising solution in reducing the carbon emission of renewable-embedded energy systems. This paper proposes a novel energy market framework for enabling the P2P local transactions under the deregulated market environment. The proposed market model is aimed to provide a practical mechanism design to incentivize optimal P2P energy trading in the existing electricity market. A cascaded model predictive control (MPC) problem formulation is devised for both the day-ahead market and adjustment markets. Finally, numerical results demonstrate the effectiveness of the proposed framework in integrating microgrid P2P trading into the electricity market.

KW - electricity market

KW - microgrids

KW - model predictive control

KW - Peer-to-peer energy trading

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DO - 10.1109/EI252483.2021.9713576

M3 - Conference article published in proceeding or book

AN - SCOPUS:85128197113

T3 - 5th IEEE Conference on Energy Internet and Energy System Integration: Energy Internet for Carbon Neutrality, EI2 2021

SP - 114

EP - 118

BT - 5th IEEE Conference on Energy Internet and Energy System Integration

PB - Institute of Electrical and Electronics Engineers Inc.

T2 - 5th IEEE Conference on Energy Internet and Energy System Integration, EI2 2021

Y2 - 22 October 2021 through 25 October 2021

ER -

Lyu C, Jia Y, Shi M, Xu Z. Integrating Peer-to-Peer Energy Trading of Microgrids into Deregulated Electricity Market by Cascaded Model Predictive Control. In 5th IEEE Conference on Energy Internet and Energy System Integration: Energy Internet for Carbon Neutrality, EI2 2021. Institute of Electrical and Electronics Engineers Inc. 2021. p. 114-118. (5th IEEE Conference on Energy Internet and Energy System Integration: Energy Internet for Carbon Neutrality, EI2 2021). doi: 10.1109/EI252483.2021.9713576

Integrating Peer-to-Peer Energy Trading of Microgrids into Deregulated Electricity Market by Cascaded Model Predictive Control

Abstract

Publication series

Conference

UN SDGs

Keywords

ASJC Scopus subject areas

More information

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