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A cooperative transactive multi-carrier energy control mechanism with P2P energy + reserve trading using Nash bargaining game theory under renewables uncertainty

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  • Alizadeh, Ali
  • Esfahani, Moein
  • Dinar, Farid
  • Kamwa, Innocent
  • Moeini, Ali
  • Mohseni-Bonab, Seyed Masoud
  • Busvelle, Eric

Abstract

Transactive Energy Control (TEC) as a market-based control is a critical notion for scheduling Multi-Carrier Energy Systems (MCESs) in local networks and forming an Energy Hub (EH). Nevertheless, implementing TEC for scheduling and controlling MCESs is extremely difficult due to the lack of a cooperative TEC model that accounts for network constraints and the uncertainty of Renewable Energy Sources (RESs). This paper defines and formulates Prosumer-Based Multi-Carrier Energy Systems (PB-MCESs), which include electricity, heat, cooling, and gas hubs to enable internal coordination of resources and flexibility extraction for PB-MCESs. Subsequently, Nash Bargaining Game Theory is employed to construct a cooperative TEC that prioritizes P2P energy trade. In addition to P2P energy trading, PB-MCESs can trade their reserve in a P2P fashion to mitigate their uncertainty. PB-MCESs estimate the level of uncertainty using stochastic programming and allot a reserve capacity based on this estimation in order to manage their uncertainty via P2P reserve trading and internal reserves. PB-MCES can also control their risk by altering their risk-taking factor in accordance with the Conditional Value-at-Risk (CVAR) index. Implementations have demonstrated that the proposed cooperative TEC decreases total costs by 17.14% and that the proposed P2P reserve trading reduces total costs by 16.32%.

Suggested Citation

  • Alizadeh, Ali & Esfahani, Moein & Dinar, Farid & Kamwa, Innocent & Moeini, Ali & Mohseni-Bonab, Seyed Masoud & Busvelle, Eric, 2024. "A cooperative transactive multi-carrier energy control mechanism with P2P energy + reserve trading using Nash bargaining game theory under renewables uncertainty," Applied Energy, Elsevier, vol. 353(PB).
    • Handle: RePEc:eee:appene:v:353:y:2024:i:pb:s030626192301526x
    DOI: 10.1016/j.apenergy.2023.122162
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    References listed on IDEAS

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    1. Javadi, Mohammad Sadegh & Esmaeel Nezhad, Ali & Jordehi, Ahmad Rezaee & Gough, Matthew & Santos, Sérgio F. & Catalão, João P.S., 2022. "Transactive energy framework in multi-carrier energy hubs: A fully decentralized model," Energy, Elsevier, vol. 238(PB).
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