A Game-Theoretic Market Mechanism for Procuring Flexibility Services in Distribution Networks under Limited Information Sharing (I)

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Abstract

We propose a game-theoretic market mechanism for energy balancing in a real-time market and formulate the competition among energy consumers as a Generalized Nash Game (GNG). In this framework, the supply function based bidding method is adopted to mitigate the market power of active energy consumers. Moreover, the physical constraints are incorporated to guarantee the secure operation of the distribution network. To steer consumers to the Generalized Nash Equilibrium (GNE) of this game, existing studies usually require participants to share full or partial private information which may not be appropriate for the practical implementation. In this regard, we design a preconditioned forward-backward based algorithm with provable convergence, by which a market participant only needs to share limited non-private information with others.
Original languageEnglish
Title of host publicationProceedings of the IFAC World Congress 2023
PublisherIFAC
Publication statusPublished - 2023
Event22nd International Federation of Automatic Control World Congress (IFAC WC 2023) - Yokohama, Japan
Duration: 9-Jul-202314-Jul-2023
https://www.ifac-control.org/conferences/ifac-world-congress-22nd-wc-2023tm

Conference

Conference22nd International Federation of Automatic Control World Congress (IFAC WC 2023)
Country/TerritoryJapan
CityYokohama
Period09/07/202314/07/2023
Internet address

Keywords

  • Smart grids, Analysis and control in deregulated power systems, Optimal operation and control of power systems

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