In this paper, a general framework for implementing a retail energy market (REM) based on the Nikaido-Isoda/relaxation algorithm (termed REM-NIRA herein) is proposed for the next generation of the electricity market structure with the presence of high fluctuations of DRR resources and the demands of consumers considering DSM implementation. The presented structure is developed based on connection property and the execution of plug and play a large number of renewable energy resources (considering uncertainty based on Taguchi’s orthogonal array testing approach) and energy storage devices. In this proposed structure, the consumers are able to participate in the market as prosumers (producer and consumer at the same time). In other words, the RLDs can have also an important share in the change of energy/price in the energy market in the proposed structure in addition to generation resources by local performance and the management of distributed generation resources and energy storage devices. The goal of the so-called generation players is to maximize profit, while players associated with consumers try to minimize market clearing price and participate in the game structure to reach Nash equilibrium point. By considering the related uncertainties, the DGs can maximize their expected payoff or profit by undertaking strategies through the price bidding strategy based on the proposed Nash equilibrium. The numerical results show the effectiveness and accuracy of the proposed framework determining the optimal power set-points of players participated in the market in order to achieve the aforementioned objectives.
|Number of pages||12|
|Journal||Tabriz Journal of Electrical Engineering|
|Publication status||Published - Jan 2016|