Automated peer-to-peer negotiation for energy contract settlements in residential cooperatives

This paper presents an automated peer-to-peer negotiation strategy for settling energy contracts among prosumers in a Residential Energy Cooperative considering heterogeneity prosumer preferences. The heterogeneity arises from prosumers' evaluation of energy contracts through multiple societal and environmental criteria and the prosumers' private preferences over those criteria. The prosumers engage in bilateral negotiations with peers to mutually agree on periodical energy contracts/loans consisting of the energy volume to be exchanged at that period and the return time of the exchanged energy. The negotiating prosumers navigate through a common negotiation domain consisting of potential energy contracts and evaluate those contracts from their valuations on the entailed criteria against a utility function that is robust against generation and demand uncertainty. From the repeated interactions, a prosumer gradually learns about the compatibility of its peers in reaching energy contracts that are closer to Nash solutions. Empirical evaluation on real demand, generation and storage profiles – in multiple system scales – illustrates that the proposed negotiation based strategy can increase the system efficiency (measured by utilitarian social welfare) and fairness (measured by Nash social welfare) over a baseline strategy and an individual flexibility control strategy representing the status quo strategy. We thus elicit system benefits from peer-to-peer flexibility exchange already without any central coordination and market operator, providing a simple yet flexible and effective paradigm that complements existing markets

Energy Contract Settlements through Automated Negotiation in Residential Cooperatives

This paper presents an automated peer-to-peer (P2P) negotiation strategy for settling energy contracts among prosumers in a Residential Energy Cooperative (REC) considering heterogeneous prosumer preferences. The heterogeneity arises from prosumers' evaluation of energy contracts through multiple societal and environmental criteria and the prosumers' private preferences over those criteria. The prosumers engage in bilateral negotiations with peers to mutually agree on periodical energy contracts/loans that consist of an energy volume to be exchanged at that period and the return time of the exchanged energy. The prosumers keep an ordered preference profile of possible energy contracts by evaluating the contracts from their own valuations on the entailed criteria, and iteratively offer the peers contracts until an agreement is formed. A prosumer embeds the valuations into a utility function that further considers uncertainties imposed by demand and generation profiles. Empirical evaluation on real demand, generation and storage profiles illustrates that the proposed negotiation based strategy is able to increase the system efficiency (measured by utilitarian social welfare) and fairness (measured by Nash social welfare) over a baseline strategy and an individual flexibility control strategy. We thus elicit system benefits from P2P flexibility exchange already with few agents and without central coordination, providing a simple yet flexible and effective paradigm that may complement existing markets.Comment: 6 pages, 4 figures, accepted in IEEE SGComm 201

Characterization of new flexible players: Deliverable D3.2

Project TradeRES - New Markets Design & Models for 100% Renewable Power Systems: https://traderes.eu/about/ABSTRACT: The subject matter of this report is the analysis of the electricity markets’ actors’ scene, through the identification of actor classes and the characterisation of actors from a behavioural and an operational perspective. The technoeconomic characterization of market participants aims to support the upcoming model enhancements by aligning the agent-based model improvements with the modern market design challenges and the contemporary characteristics of players. This work has been conducted in the context of task T3.2, which focuses on the factorization of the distinctive operational and behavioural characteristics of players in market structures. Traditional parties have been considered together with new and emerging roles, while special focus has been given on new actors related to flexible technologies and demand-side response. Among the main objectives have been the characterization of individual behaviours, objectives and requirements of different electricity market players, considering both the traditional entities and the new distributed ones, and the detailed representation of the new actors.N/

Impact of Renewable Energy Expansion to the Balancing Energy Demand of Differential Balancing Groups

The research addresses the present situation on the German electricity market caused by variable renewable energy sources. The increasing number of households with photovoltaic and battery storage systems and their impacts require special attention. These systems change the traditional electricity customer from the sole electricity consumer to an electricity producer and consumer in one person. These so-called prosumers differ in their actual electricity demand from the initially estimated electricity demand with standard load profile. This discrepancy results in deviations within a differential balancing group. Thereby, the main finding of this research is a significant higher balancing energy demand with the expansion of photovoltaic and battery storage systems. Hence, the standard load profile is particularly not suitable for differential balancing groups with a high penetration of solar systems and still less suitable for groups with solar and battery storage systems

A Multiobjective Robust Scheduling Optimization Mode for Multienergy Hybrid System Integrated by Wind Power, Solar Photovoltaic Power, and Pumped Storage Power

Wind power plant (WPP), photovoltaic generators (PV), cell-gas turbine (CGT), and pumped storage power station (PHSP) are integrated into multienergy hybrid system (MEHS). Firstly, this paper presents MEHS structure and constructs a scheduling model with the objective functions of maximum economic benefit and minimum power output fluctuation. Secondly, in order to relieve the uncertainty influence of WPP and PV on system, robust stochastic theory is introduced to describe uncertainty and propose a multiobjective stochastic scheduling optimization mode by transforming constraint conditions with uncertain variables. Finally, a 9.6 MW WPP, a 6.5 MW PV, three CGT units, and an upper reservoir with 10 MW·h equivalent capacity are chosen as simulation system. The results show MEHS system can achieve the best operation result by using the multienergy hybrid generation characteristic. PHSP could shave peak and fill valley of load curve by optimizing pumping storage and inflowing generating behaviors based on the load supply and demand status and the available power of WPP and PV. Robust coefficients can relieve the uncertainty of WPP and PV and provide flexible scheduling decision tools for decision-makers with different risk attitudes by setting different robust coefficients, which could maximize economic benefits and minimize operation risks at the same time

A Clean Electricity Future: Assessing the Role of Wide-Area Power System Operations in Supporting Weather-Driven Renewable Energy in the U.S.

Over the coming decades, renewable energy sources, namely wind and solar, will need to play a larger role in our nation’s energy mix as we seek to lower greenhouse emissions and respond to renewable energy policies and the EPA’s Clean Power Plan. This thesis assesses the role of wider-area power system operations in the U.S. as a powerful solution in supporting the integration of these weather-driven, variable energy resources that pose substantial challenges to grid reliability. The expansion and integration of organized electricity markets and transmission networks over wider geographic areas can (1) help reduce net-variability in wind and solar power generation while improving reliability; (2) provide an outlet for over-generation while reducing curtailment; (3) improve resource utilization while enabling resource sharing and lowering electricity costs; and (4) enable low-cost pollution reduction by providing a cheap alternative to fossil-fuel generation. Through power industry assessment, case-study analyses, and modeling research using NOAA’s National Energy with Weather System Simulator to compare scenarios of regional expansion versus a nation power system, this paper evaluates the feasibility and role of wide-area expansion and integration in achieving higher levels of variable renewable energy than our current system is capable of supporting

Sustainable generation mix as a reference in effective design of electricity market structures and rules

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