View in EDS

A new trading mechanism for prosumers based on flexible reliability preferences in active distribution network.

Saved in:
Bibliographic Details
Title: A new trading mechanism for prosumers based on flexible reliability preferences in active distribution network.
Authors: Chen, Xi1 (AUTHOR), Liu, Boxuan1 (AUTHOR), Qiu, Jing1,2,3 (AUTHOR) qiujing0322@gmail.com, Shen, Wei1 (AUTHOR), Reedman, Luke4 (AUTHOR), Dong, Zhao Yang1 (AUTHOR)
Source: Applied Energy. Feb2021, Vol. 283, pN.PAG-N.PAG. 1p.
Subjects: Electric power failures, Consumer preferences, Electricity markets, User experience, Public goods, Electric power distribution, Quality function deployment, Discrete choice models
Geographic Terms: Australia
Abstract: • A private reliability service is proposed and can be traded in the electricity market. • A novel group double side auction method for market clearing is designed and verified. • Dynamic elasticities considering real-time preference are applied in this model. • The model provides the advised price interval for customers. • Real historical data of customers in Australia are used to verify the proposed model. Due to the rapid development of distributed renewable generation, emerging prosumers are encouraged to participate in the energy market. Meanwhile, blackout events, planned and unplanned outages due to weather, component failures and other causes, can also impact users' experience. To maintain reliability and improve users' experience under outage conditions, it is possible to transform the service reliability from a public good (compulsory and uniform) to a private good (self-selection). In this paper, a new restore mechanism based on private reliability service is proposed, the reliability service is no longer uniform. Customers with a higher reliability requirement are willing to pay to maintain their desired consumption in outage conditions. The customers are classified by dynamic elasticity considering historical data and real-time customer preferences. Then the advised unit price, trading amount and reliability level are provided to customer. Once they submit this information to market operator, the price and transaction amount is matched in each group, and floated average clearing price is applied to obtain the bidding results. The trading mechanism is proved to satisfy incentive compatibility, and the transaction process for a specific area in Australia is analyzed in a case study to verify the proposed model. [ABSTRACT FROM AUTHOR]
Copyright of Applied Energy is the property of Elsevier B.V. and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
Database: Engineering Source
FullText Text:
  Availability: 0
Header DbId: egs
DbLabel: Engineering Source
An: 148166471
AccessLevel: 6
PubType: Academic Journal
PubTypeId: academicJournal
PreciseRelevancyScore: 0
IllustrationInfo
Items – Name: Title
  Label: Title
  Group: Ti
  Data: A new trading mechanism for prosumers based on flexible reliability preferences in active distribution network.
– Name: Author
  Label: Authors
  Group: Au
  Data: <searchLink fieldCode="AR" term="%22Chen%2C+Xi%22">Chen, Xi</searchLink><relatesTo>1</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Liu%2C+Boxuan%22">Liu, Boxuan</searchLink><relatesTo>1</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Qiu%2C+Jing%22">Qiu, Jing</searchLink><relatesTo>1,2,3</relatesTo> (AUTHOR)<i> qiujing0322@gmail.com</i><br /><searchLink fieldCode="AR" term="%22Shen%2C+Wei%22">Shen, Wei</searchLink><relatesTo>1</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Reedman%2C+Luke%22">Reedman, Luke</searchLink><relatesTo>4</relatesTo> (AUTHOR)<br /><searchLink fieldCode="AR" term="%22Dong%2C+Zhao+Yang%22">Dong, Zhao Yang</searchLink><relatesTo>1</relatesTo> (AUTHOR)
– Name: TitleSource
  Label: Source
  Group: Src
  Data: <searchLink fieldCode="JN" term="%22Applied+Energy%22">Applied Energy</searchLink>. Feb2021, Vol. 283, pN.PAG-N.PAG. 1p.
– Name: Subject
  Label: Subjects
  Group: Su
  Data: <searchLink fieldCode="DE" term="%22Electric+power+failures%22">Electric power failures</searchLink><br /><searchLink fieldCode="DE" term="%22Consumer+preferences%22">Consumer preferences</searchLink><br /><searchLink fieldCode="DE" term="%22Electricity+markets%22">Electricity markets</searchLink><br /><searchLink fieldCode="DE" term="%22User+experience%22">User experience</searchLink><br /><searchLink fieldCode="DE" term="%22Public+goods%22">Public goods</searchLink><br /><searchLink fieldCode="DE" term="%22Electric+power+distribution%22">Electric power distribution</searchLink><br /><searchLink fieldCode="DE" term="%22Quality+function+deployment%22">Quality function deployment</searchLink><br /><searchLink fieldCode="DE" term="%22Discrete+choice+models%22">Discrete choice models</searchLink>
– Name: SubjectGeographic
  Label: Geographic Terms
  Group: Su
  Data: <searchLink fieldCode="DE" term="%22Australia%22">Australia</searchLink>
– Name: Abstract
  Label: Abstract
  Group: Ab
  Data: • A private reliability service is proposed and can be traded in the electricity market. • A novel group double side auction method for market clearing is designed and verified. • Dynamic elasticities considering real-time preference are applied in this model. • The model provides the advised price interval for customers. • Real historical data of customers in Australia are used to verify the proposed model. Due to the rapid development of distributed renewable generation, emerging prosumers are encouraged to participate in the energy market. Meanwhile, blackout events, planned and unplanned outages due to weather, component failures and other causes, can also impact users' experience. To maintain reliability and improve users' experience under outage conditions, it is possible to transform the service reliability from a public good (compulsory and uniform) to a private good (self-selection). In this paper, a new restore mechanism based on private reliability service is proposed, the reliability service is no longer uniform. Customers with a higher reliability requirement are willing to pay to maintain their desired consumption in outage conditions. The customers are classified by dynamic elasticity considering historical data and real-time customer preferences. Then the advised unit price, trading amount and reliability level are provided to customer. Once they submit this information to market operator, the price and transaction amount is matched in each group, and floated average clearing price is applied to obtain the bidding results. The trading mechanism is proved to satisfy incentive compatibility, and the transaction process for a specific area in Australia is analyzed in a case study to verify the proposed model. [ABSTRACT FROM AUTHOR]
– Name: AbstractSuppliedCopyright
  Label:
  Group: Ab
  Data: <i>Copyright of Applied Energy is the property of Elsevier B.V. and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.)
PLink https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=egs&AN=148166471
RecordInfo BibRecord:
  BibEntity:
    Identifiers:
      – Type: doi
        Value: 10.1016/j.apenergy.2020.116272
    Languages:
      – Code: eng
        Text: English
    PhysicalDescription:
      Pagination:
        PageCount: 1
        StartPage: N.PAG
    Subjects:
      – SubjectFull: Electric power failures
        Type: general
      – SubjectFull: Consumer preferences
        Type: general
      – SubjectFull: Electricity markets
        Type: general
      – SubjectFull: User experience
        Type: general
      – SubjectFull: Public goods
        Type: general
      – SubjectFull: Electric power distribution
        Type: general
      – SubjectFull: Quality function deployment
        Type: general
      – SubjectFull: Discrete choice models
        Type: general
      – SubjectFull: Australia
        Type: general
    Titles:
      – TitleFull: A new trading mechanism for prosumers based on flexible reliability preferences in active distribution network.
        Type: main
  BibRelationships:
    HasContributorRelationships:
      – PersonEntity:
          Name:
            NameFull: Chen, Xi
      – PersonEntity:
          Name:
            NameFull: Liu, Boxuan
      – PersonEntity:
          Name:
            NameFull: Qiu, Jing
      – PersonEntity:
          Name:
            NameFull: Shen, Wei
      – PersonEntity:
          Name:
            NameFull: Reedman, Luke
      – PersonEntity:
          Name:
            NameFull: Dong, Zhao Yang
    IsPartOfRelationships:
      – BibEntity:
          Dates:
            – D: 01
              M: 02
              Text: Feb2021
              Type: published
              Y: 2021
          Identifiers:
            – Type: issn-print
              Value: 03062619
          Numbering:
            – Type: volume
              Value: 283
          Titles:
            – TitleFull: Applied Energy
              Type: main
ResultId 1