PROJECT TITLE :

Optimal Pricing and Energy Scheduling for Hybrid Energy Trading Market in Future Smart Grid

ABSTRACT:

Future sensible grid (SG) has been considered a complicated and advanced Power System, where energy consumers are connected not solely to the ancient energy retailers (e.g., the utility firms), however conjointly to some native energy networks for bidirectional energy trading opportunities. This paper aims to research a hybrid energy trading market that is comprised of an external utility company and a local trading market managed by a native trading center (LTC). The existence of native energy market provides new opportunities for the energy shoppers and therefore the distributed energy sellers to perform the local energy trading during a cooperative manner such that all of them will benefit. This paper initial quantifies the respective advantages of the energy customers and also the sellers from the native trading and then investigates how they'll optimize their benefits by controlling their energy scheduling in response to the LTC’s pricing. Two completely different types of the LTC are considered: 1) the nonprofit-oriented LTC, that solely aims at benefiting the energy consumers and the sellers; and 2) the profit-oriented LTC, that aims at maximizing its own profit whereas guaranteeing the desired profit for every consumer and seller. For every kind of the LTC, the optimal trading problem is formulated and therefore the associated algorithm is more proposed to efficiently realize the LTC’s optimal price, still as the optimal energy scheduling for every shopper and seller. Numerical results are provided to validate the benefits of the hybrid energy trading market and the performance of the proposed algorithms.


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