A Fully Decentralized Distribution Market Mechanism Using ADMM
Conference Publication ResearchOnline@JCUAbstract
his paper proposed a mathematical framework for establishing a fully decentralized distribution market by using the alternating direction method of multipliers (ADMM) method, where no cooperation between market participants is needed. Notably, the proposed decentralized formulation of distribution market is derived based on the centralized nodal pricing model that is widely adopted in existing electricity markets. Therefore, under the proposed market, merits of nodal pricing can still be retained and contribute to the enhancement of the operating efficiency of a distribution network. Under some mild conditions on the choice of parameters, convergence of the decentralized algorithm can be guaranteed. Finally, case studies are carried out to demonstrate the feasibility and efficiency of the developed models and algorithms.
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Publication Name
PESGM 2019: IEEE Power & Energy Society General Meeting
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ISBN/ISSN
978-1-7281-1981-6
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Pages Count
5
Location
Atlanta, GA, USA
Publisher
Institute of Electrical and Electronics Engineers
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Publisher Location
Piscataway, NJ, USA
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DOI
10.1109/PESGM40551.2019.8973905