A game-theoretic approach for price-based coordination of flexible devices operating in integrated energy-reserve markets

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Title: A game-theoretic approach for price-based coordination of flexible devices operating in integrated energy-reserve markets
Authors: Gong, X
De Paola, A
Angeli, D
Strbac, G
Item Type: Journal Article
Abstract: This paper presents a novel distributed control strategy for large scale deployment of demand response. In the considered framework, large populations of storage devices and electric vehicles (EVs) participate to an integrated energy-reserve market. They react to prices and autonomously schedule their operation in order to optimize their own objective functions. The price signals are obtained through the resolution of an optimal power flow problem that explicitly takes into account the impact of demand response on the optimal power dispatch and reserve procurement of committed generation. Differently from previous approaches, the adopted game-theoretic framework provides rigorous theoretical guarantees of convergence and optimality of the proposed control scheme in a multi-price setup that includes ancillary services. The performance of the coordination scheme is also evaluated in simulation on the PJM 5-bus system, demonstrating its capability to flatten demand profiles and reduce the costs of generators and flexible devices.
Issue Date: 15-Dec-2019
Date of Acceptance: 17-Sep-2019
URI: http://hdl.handle.net/10044/1/74702
DOI: 10.1016/j.energy.2019.116153
ISSN: 0360-5442
Publisher: Elsevier BV
Start Page: 1
End Page: 12
Journal / Book Title: Energy
Volume: 189
Copyright Statement: © 2019 Elsevier Ltd. All rights reserved. This manuscript is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Licence http://creativecommons.org/licenses/by-nc-nd/4.0/
Sponsor/Funder: Innovate UK
Funder's Grant Number: 104249
Keywords: Energy
0913 Mechanical Engineering
0915 Interdisciplinary Engineering
0914 Resources Engineering and Extractive Metallurgy
Publication Status: Published online
Embargo Date: 2020-09-20
Article Number: 116153
Online Publication Date: 2019-09-20
Appears in Collections:Electrical and Electronic Engineering
Centre for Environmental Policy
Faculty of Natural Sciences