research-article

Randomized auction design for electricity markets between grids and microgrids

Authors:

Chuan WuAuthors Info & Claims

SIGMETRICS '14: The 2014 ACM international conference on Measurement and modeling of computer systems

Pages 99 - 110

https://doi.org/10.1145/2591971.2591999

Published: 16 June 2014 Publication History

Abstract

This work studies electricity markets between power grids and microgrids, an emerging paradigm of electric power generation and supply. It is among the first that addresses the economic challenges arising from such grid integration, and represents the first power auction mechanism design that explicitly handles the Unit Commitment Problem (UCP), a key challenge in power grid optimization previously investigated only for centralized cooperative algorithms. The proposed solution leverages a recent result in theoretical computer science that can decompose an optimal fractional (infeasible) solution to NP-hard problems into a convex combination of integral (feasible) solutions. The end result includes randomized power auctions that are (approximately) truthful and computationally efficient, and achieve small approximation ratios for grid-wide social welfare under UCP constraints and temporal demand correlations. Both power markets with grid-to-microgrid and microgrid-to-grid energy sales are studied, with an auction designed for each, under the same randomized power auction framework. Trace driven simulations are conducted to verify the efficacy of the two proposed inter-grid power auctions.

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Randomized auction design for electricity markets between grids and microgrids

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cover image ACM Conferences

SIGMETRICS '14: The 2014 ACM international conference on Measurement and modeling of computer systems

June 2014

614 pages

ISBN:9781450327893

DOI:10.1145/2591971

General Chairs:
Sujay Sanghavi
The University of Texas at Austin
,
Sanjay Shakkottai
The University of Texas at Austin
,
Program Chairs:
Marc Lelarge
INRIA, France
,
Bianca Schroeder
University of Toronto

ACM SIGMETRICS Performance Evaluation Review Volume 42, Issue 1
Performance evaluation review
June 2014
569 pages
ISSN:0163-5999
DOI:10.1145/2637364
Editors:
Derek Eager
University of Saskatchewan
,
Carey Williamson
University of Calgary
Issue’s Table of Contents

Copyright © 2014 ACM.

Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than ACM must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected]

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Published: 16 June 2014

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SIGMETRICS '14: ACM SIGMETRICS / International Conference on Measurement and Modeling of Computer Systems

June 16 - 20, 2014

Texas, Austin, USA

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SIGMETRICS '14 Paper Acceptance Rate 40 of 237 submissions, 17%;

Overall Acceptance Rate 459 of 2,691 submissions, 17%

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Cited By

Yuan YJiao LZhu KZhang L(2022)Scheduling Online EV Charging Demand Response via V2V Auctions and Local GenerationIEEE Transactions on Intelligent Transportation Systems10.1109/TITS.2021.310397023:8(11436-11452)Online publication date: Aug-2022
https://doi.org/10.1109/TITS.2021.3103970
Spasova BKawamoto DTakefuji Y(2019)Evaluation of the Effects of Bidding Strategy with Customized Pricing on the Individual Prosumer in a Local Energy MarketAdvances in Science, Technology and Engineering Systems Journal10.25046/aj0404454:4Online publication date: 2019
https://doi.org/10.25046/aj040445
Zhang WSun YDeng LYeo CYang L(2019)Dynamic Spectrum Allocation for Heterogeneous Cognitive Radio Networks With Multiple ChannelsIEEE Systems Journal10.1109/JSYST.2018.282230913:1(53-64)Online publication date: Mar-2019
https://doi.org/10.1109/JSYST.2018.2822309
Lu XXiao XXiao LDai CPeng MPoor H(2019)Reinforcement Learning-Based Microgrid Energy Trading With a Reduced Power Plant ScheduleIEEE Internet of Things Journal10.1109/JIOT.2019.29414986:6(10728-10737)Online publication date: Dec-2019
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Wang HHuang J(2018)Incentivizing Energy Trading for Interconnected MicrogridsIEEE Transactions on Smart Grid10.1109/TSG.2016.26149889:4(2647-2657)Online publication date: Jul-2018
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Zhang WZhang GZheng YYang LYeo C(2018)Spectrum Sharing for Heterogeneous Networks and Application Systems in TV White SpacesIEEE Access10.1109/ACCESS.2018.28248366(19833-19843)Online publication date: 2018
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SHI LLV TWANG Y(2018)Vehicle-to-grid service development logic and management formulationJournal of Modern Power Systems and Clean Energy10.1007/s40565-018-0464-7Online publication date: 14-Nov-2018
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