A stochastic game for energy resource trading in the context of energy internet

Li, C, Yu, X, Sokolowski, P, Liu, N and Chen, G 2016, 'A stochastic game for energy resource trading in the context of energy internet', in Proceedings of the 2016 Power and Energy Society General Meeting, Boston, United States, 17-21 July 2016, pp. 1-5.


Document type: Conference Paper
Collection: Conference Papers

Title A stochastic game for energy resource trading in the context of energy internet
Author(s) Li, C
Yu, X
Sokolowski, P
Liu, N
Chen, G
Year 2016
Conference name Paving the Way for Grid Modernization
Conference location Boston, United States
Conference dates 17-21 July 2016
Proceedings title Proceedings of the 2016 Power and Energy Society General Meeting
Publisher IEEE
Place of publication United States
Start page 1
End page 5
Total pages 5
Abstract In this paper, the problem of energy resource trading in an Energy Internet context is studied. By collecting information about energy bidding of multiple microgrids, an aggregator aims to maximize each microgrids' profit while minimizing the risk of overbidding for renewable energy resources trading based microgrids. A novel stochastic game-theoretic model and the conditional value-at-risk (CVaR) measurement are introduced to characterize the payoff function of each microgrid. The sample average approximation technique is employed to approximate the stochastic Nash equilibrium. The existence of a sample average approximated (SAA) Nash equilibrium is investigated and the corresponding seeking algorithm is also proposed. The results are illustrated by numerical simulations, which show the SAA Nash equilibrium could reduce the risk of not meeting the demand and improve the economic benefits.
Subjects Power and Energy Systems Engineering (excl. Renewable Power)
Renewable Power and Energy Systems Engineering (excl. Solar Cells)
Copyright notice © 2016 IEEE
ISBN 9781509041671
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