Transforming Energy Networks via Peer to Peer Energy Trading: Potential of Game Theoretic Approaches

Peer-to-peer (P2P) energy trading has emerged as a next-generation energy management mechanism for the smart grid that enables each prosumer of the network to participate in energy trading with one another and the grid. This poses a significant challenge in terms of modeling the decision-making process of each participant with conflicting interest and motivating prosumers to participate in energy trading and to cooperate, if necessary, for achieving different energy management goals. Therefore, such decision-making process needs to be built on solid mathematical and signal processing tools that can ensure an efficient operation of the smart grid. This paper provides an overview of the use of game theoretic approaches for P2P energy trading as a feasible and effective means of energy management. As such, we discuss various games and auction theoretic approaches by following a systematic classification to provide information on the importance of game theory for smart energy research. Then, the paper focuses on the P2P energy trading describing its key features and giving an introduction to an existing P2P testbed. Further, the paper zooms into the detail of some specific game and auction theoretic models that have recently been used in P2P energy trading and discusses some important finding of these schemes.Comment: 38 pages, single column, double spac

Smart microgrids and virtual power plants in a hierarchical control structure

In order to achieve a coordinated integration of distributed energy resources in the electrical network, an aggregation of these resources is required. Microgrids and virtual power plants (VPPs) address this issue. Opposed to VPPs, microgrids have the functionality of islanding, for which specific control strategies have been developed. These control strategies are classified under the primary control strategies. Microgrid secondary control deals with other aspects such as resource allocation, economic optimization and voltage profile improvements. When focussing on the control-aspects of DER, VPP coordination is similar with the microgrid secondary control strategy, and thus, operates at a slower time frame as compared to the primary control and can take full advantage of the available communication provided by the overlaying smart grid. Therefore, the feasibility of the microgrid secondary control for application in VPPs is discussed in this paper. A hierarchical control structure is presented in which, firstly, smart microgrids deal with local issues in a primary and secondary control. Secondly, these microgrids are aggregated in a VPP that enables the tertiary control, forming the link with the electricity markets and dealing with issues on a larger scale

Enlargement and Integration Action Activity Workshop on Costs, Benefits and Impact Assessment of Smart Grids for Europe and Beyond

Smart Grids are a key component of the European strategy toward a low-carbon energy future. Growing environmental and energy security concerns represent a major driver for the renovation and improvement of existing energy infrastructure. In this context, Enlargement and Integration countries will have to face substantial investments in the coming years to upgrade and modernise their energy networks towards smart power grids. Wind and solar electricity retain the greatest potential to contribute and increase the shares of renewable electricity production; however, current electricity transmission and distribution systems do not generally appear adequate to reliably cope with large-scale penetration of such variable renewables based generating plants (whether centralised or distributed). Significant investments will need to be mobilized. Most energy investments are long life and capital intensive, therefore investment decisions taken now will have an impact for many years. When planning the electricity system of the future, it is necessary to adopt an integrated approach to assess the interrelated physical, environmental, cyber, social, economic and policy challenges where a fair allocation of short term costs and long term benefits among different players is a precondition for reducing uncertainties and incentivize investments. In this context the workshop will discuss how these developments can provide examples and opportunities for E&I countries to build smart grids and will present and discuss approaches and methodologies for cost – benefit analysis that should include all the costs and benefits that smart grid projects can bring to the energy system at large and to society. The workshop will discuss the impacts of smart grids not only in monetary terms, but also through the identification of externalities and social impacts that can result from the implementation of Smart Grid. The workshop will benefit from the on-going experience in Enlargement and Integration Countries on smart grid developments.JRC.F.3-Energy Security, Systems and Marke

A rolling horizon optimization framework for the simultaneous energy supply and demand planning in microgrids

This work focuses on the development of optimization-based scheduling strategies for the coordination of microgrids. The main novelty of this work is the simultaneous management of energy production and energy demand within a reactive scheduling approach to deal with the presence of uncertainty associated to production and consumption. Delays in the nominal energy demands are allowed under associated penalty costs to tackle flexible and fluctuating demand profiles. In this study, the basic microgrid structure consists of renewable energy systems (photovoltaic panels, wind turbines) and energy storage units. Consequently, a Mixed Integer Linear Programming (MILP) formulation is presented and used within a rolling horizon scheme that periodically updates input data information

Community Wind 101: A Primer for Policymakers

Provides an overview of a model for wind power development based on local ownership. Reviews innovative examples, economic benefits for the community, benefits for clean energy development, obstacles, and state and federal policy options to address them

Power quality and electromagnetic compatibility: special report, session 2

The scope of Session 2 (S2) has been defined as follows by the Session Advisory Group and the Technical Committee: Power Quality (PQ), with the more general concept of electromagnetic compatibility (EMC) and with some related safety problems in electricity distribution systems. Special focus is put on voltage continuity (supply reliability, problem of outages) and voltage quality (voltage level, flicker, unbalance, harmonics). This session will also look at electromagnetic compatibility (mains frequency to 150 kHz), electromagnetic interferences and electric and magnetic fields issues. Also addressed in this session are electrical safety and immunity concerns (lightning issues, step, touch and transferred voltages). The aim of this special report is to present a synthesis of the present concerns in PQ&EMC, based on all selected papers of session 2 and related papers from other sessions, (152 papers in total). The report is divided in the following 4 blocks: Block 1: Electric and Magnetic Fields, EMC, Earthing systems Block 2: Harmonics Block 3: Voltage Variation Block 4: Power Quality Monitoring Two Round Tables will be organised: - Power quality and EMC in the Future Grid (CIGRE/CIRED WG C4.24, RT 13) - Reliability Benchmarking - why we should do it? What should be done in future? (RT 15

Regulatory strategies for selected Member States (Denmark, Germany, Netherlands, Spain, the UK):IMPROGRES project

Research Project supported by the European Commission, Directorate-General for Energy and Transport, under the Energy Intelligent Europe (EIE) programmeThis Work Package 6 report of the IMPROGRES project provides an overview of regulatory strategies and incentives, conducive to (i) network integration of increasing levels of distributed generation including notably intermittent renewable technology such as wind power and solar photovoltaics (PV) as well as (ii) options for reducing impacts on surging network integration costs. Similar to the IMPROGRES project in general, this report focuses on European distribution networks. It includes specific country studies of Denmark, Germany, the Netherlands, Spain and the UK. This summary presents the main findings of this report