Abstract

The distribution system is witting increasing penetration of prosumers, who can act both as providers and consumers. Little research has been conducted on the biding model of prosumers in the market. So this paper investigates bidding strategies for various prosumers as well as energy storage. The quantity-price bidding curves of various prosumers are presented integrating characteristics of both the provider and consumer. Then, a local market for prosumers is designed and the market-clearing model is constructed to maximize social welfare. Prosumers just submit the quantity-price bidding curves rather than detailed component parameters to the local market. Case studies validate the effectiveness of the proposed market clearing model. Costs of prosumers are decreased in local market. Energy storage reduces the price peak and costs of prosumers in the local market. Exchanging power between local market and the utility gird is also reduced.

Original languageEnglish
Title of host publication2019 IEEE Power and Energy Society General Meeting, PESGM 2019
PublisherIEEE
ISBN (Electronic)9781728119816
DOIs
Publication statusPublished - Aug 2019
Event2019 IEEE Power and Energy Society General Meeting, PESGM 2019 - Atlanta, USA United States
Duration: 4 Aug 20198 Aug 2019

Publication series

NameIEEE Power and Energy Society General Meeting
Volume2019-August
ISSN (Print)1944-9925
ISSN (Electronic)1944-9933

Conference

Conference2019 IEEE Power and Energy Society General Meeting, PESGM 2019
CountryUSA United States
CityAtlanta
Period4/08/198/08/19

Keywords

  • Bidding strategy
  • clearing model
  • energy storage
  • local market
  • prosumer bidding curve

ASJC Scopus subject areas

  • Energy Engineering and Power Technology
  • Nuclear Energy and Engineering
  • Renewable Energy, Sustainability and the Environment
  • Electrical and Electronic Engineering

Cite this

Zhang, Z., & Li, F. (2019). Local market design and bidding strategies of prosumers. In 2019 IEEE Power and Energy Society General Meeting, PESGM 2019 [8973514] (IEEE Power and Energy Society General Meeting; Vol. 2019-August). IEEE. https://doi.org/10.1109/PESGM40551.2019.8973514