Abstract

With the advanced ICT (information and communication technology) support, the local energy trading rapidly develops and plays an important role in energy supply in recent years. Because the demand and supply directly occurs at local level, the transmission cost saves a lot and the distributed renewables energy resources are capable to be used in energy supply. This paper presents a multi-supplier trading system for the local power market, which is formulated as a non-cooperative Cournot game. In this model, four types of providers: thermal power plant, wind power plant, PV power generation and customer-operated storage electricity supplier are considered separately. Their cost functions have been extensively formulated. A unique Nash equilibrium (NE) exists and the optimum strategies can be derived as demonstrated in a typical local market. The proposed approach can effectively model local energy trading of different types of energy providers.

Original languageEnglish
Pages (from-to)3528-3533
Number of pages6
JournalEnergy Procedia
Volume158
DOIs
Publication statusPublished - 1 Feb 2019
Event10th International Conference on Applied Energy, ICAE 2018 - Hong Kong, China
Duration: 22 Aug 201825 Aug 2018

Keywords

  • Cournot game
  • Local energy trading
  • Renewable energy

ASJC Scopus subject areas

  • Energy(all)

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