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dc.contributor.authorAmin, Uzma
dc.contributor.authorHossain, J
dc.contributor.authorTushar, W
dc.contributor.authorMahmud, K
dc.date.accessioned2020-09-30T03:27:03Z
dc.date.available2020-09-30T03:27:03Z
dc.date.issued2020
dc.identifier.citationU. Amin, J. Hossain, W. Tushar and K. Mahmud. 2020. Energy Trading in Local Electricity Markets with Renewables- A Contract Theoretic Approach. IEEE Transactions on Industrial Informatics.
dc.identifier.urihttp://hdl.handle.net/20.500.11937/81246
dc.identifier.doi10.1109/TII.2020.3018123
dc.description.abstract

This paper introduces a new contract-theoretic framework to tackle this challenge by designing optimal contracts for ESs. A dynamic pricing scheme is developed that the aggregator can utilize to incentivize the ESs to contribute to both baseload and peak load demands according to their categories. An algorithm is proposed that can be implemented in a distributed manner by trading partners to enable energy trading. It is shown that the trading strategy under a baseload scenario is feasible, and the aggregator only needs to consider the per unit generation cost of ESs to decide on its strategy. The trading strategy for a peak load scenario, however, is complex and requires consideration of different factors such as variations in the wholesale price and its effect on the selling price of ESs, and the uncertainty of RESs. Simulation results demonstrate the effectiveness of the proposed scheme for energy trading in local electricity market

dc.publisherIEEE
dc.titleEnergy Trading in Local Electricity Markets with Renewables- A Contract Theoretic Approach
dc.typeJournal Article
dcterms.source.issn1551-3203
dcterms.source.titleIEEE Transactions on Industrial Informatics
dc.date.updated2020-09-30T03:27:03Z
curtin.departmentSchool of Electrical Engineering, Computing and Mathematical Sciences (EECMS)
curtin.accessStatusFulltext not available
curtin.facultyFaculty of Science and Engineering
curtin.contributor.orcidAmin, Uzma [0000-0003-2932-9507]


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