NDLI: LEM for DERs and flexible loads

Content Provider	IET Digital Library
Author	Wu, Xiong Wang, Xiuli Zhang, Wei Huang, Yongxi
Abstract	The increasing of distributed energy resources (DERs) requires efficient energy market mechanisms, but the existing market cannot directly reflect the uncertainty of renewable energy and the flexibility of demand on price. This study proposes a novel local energy market (LEM) framework, in which the DERs are traded between prosumers and consumers. In the LEM, a guarantee level mechanism is proposed to distinguish the difference of the renewable distributed generators’ (DGs’) uncertainty and loads’ flexibility. It divides the LEM into different levels for prosumers and consumers to select based on their own conditions. The proposed mechanism extends the market trading into four dimensions which are price, quantity, reliability and flexibility. To promote the efficiency of the LEM, an iterative clearing approach is proposed. The prosumers and consumers determine their trading parameters based on the proposed two-stage stochastic optimisation models. The case studies are conducted to verify the efficiency of the proposed LEM. The results shows that the market with guarantee level mechanism not only gives an economic signal for flexible loads to counteract the uncertainty of renewable DGs, but also promotes the integration of DERs and increase the welfare of prosumers and consumers.
Starting Page	3556
Ending Page	3563
Page Count	8
ISSN	17518687
Volume Number	13
e-ISSN	17518695
Issue Number	Issue 16, Aug (2019)
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/iet-gtd/13/16
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/10.1049/iet-gtd.2019.0048
Journal	IET Generation, Transmission & Distribution
Publisher Date	2019-07-09
Access Restriction	Open
Rights Holder	© The Institution of Engineering and Technology
Subject Keyword	Consumers DERs Distributed Energy Resources Distributed Power Generation Economic Signal Efficient Energy Market Mechanisms Flexible Load Guarantee Level Mechanism Iterative Clearing Approach LEM Local Energy Market Framework Market Trading Optimisation Technique Power Market Power System Economics Power System Managemen Power System Operation Pricing Prosumers Reliability Renewable DGs Renewable Distributed Generator Renewable Energy Stochastic Linearised SCUC Stochastic Programming Two-stage Stochastic Optimisation Model
Content Type	Text
Resource Type	Article
Subject	Control and Systems Engineering Energy Engineering and Power Technology Electrical and Electronic Engineering

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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