Yang, Jiajia, Dong, Zhaoyang, Chen, Guo, Wen, Fushuan, and Li, Chen (2020) A Fully Decentralized Distribution Market Mechanism Using ADMM. In: Proceedings of the IEEE Power & Energy Society General Meeting. From: PESGM 2019: IEEE Power & Energy Society General Meeting, 4-8 August 2019, Atlanta, GA, USA.

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Abstract

his paper proposed a mathematical framework for establishing a fully decentralized distribution market by using the alternating direction method of multipliers (ADMM) method, where no cooperation between market participants is needed. Notably, the proposed decentralized formulation of distribution market is derived based on the centralized nodal pricing model that is widely adopted in existing electricity markets. Therefore, under the proposed market, merits of nodal pricing can still be retained and contribute to the enhancement of the operating efficiency of a distribution network. Under some mild conditions on the choice of parameters, convergence of the decentralized algorithm can be guaranteed. Finally, case studies are carried out to demonstrate the feasibility and efficiency of the developed models and algorithms.

Item ID:	82466
Item Type:	Conference Item (Research - E1)
ISBN:	978-1-7281-1981-6
Copyright Information:	© IEEE 2021.
Funders:	Australian Research Council (ARC)
Projects and Grants:	ARC DP17010327, ARC DP180103217
Date Deposited:	26 Mar 2024 23:45
FoR Codes:	40 ENGINEERING > 4008 Electrical engineering > 400805 Electrical energy transmission, networks and systems @ 100%
SEO Codes:	17 ENERGY > 1703 Energy storage, distribution and supply > 170309 Smart grids @ 100%
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