Title :
A general framework for decentralized trading in electricity markets
Author :
Loukarakis, Emmanouil ; Bialek, Janusz W. ; Dent, C.J.
Abstract :
Nowadays the necessary coordination of trades to clear the energy market, while maintaining network security and adequacy of supply, is carried out centrally by a system operator. This paper examines the idea of an autonomously operating power system where energy trading is conducted in a decentralized manner among market players. A general decentralized solution framework is proposed, the main issues and challenges are discussed, and indicative results are presented to illustrate how the overall concept could work.
Keywords :
commerce; power markets; autonomously operating power system; decentralized energy trading; decentralized trading; electricity market; general framework; market player; network security; supply adequacy; trade coordination; Convergence; Equations; Generators; Linear programming; Load flow; Mathematical model; Optimization;
Conference_Titel :
Bulk Power System Dynamics and Control - IX Optimization, Security and Control of the Emerging Power Grid (IREP), 2013 IREP Symposium
Conference_Location :
Rethymno
Electronic_ISBN :
978-1-4799-0199-9
DOI :
10.1109/IREP.2013.6629386
