A Two-Stage Game Model for Combined Heat and Power Trading Market

The proliferation of technologies such as combined heat and power systems and smart meters has accelerated the multienergy trading. A two-stage game model is built in this paper to analyze the optimal strategy of each player and their interactions. Specifically, in consumer game model, we present an...

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Bibliographic Details
Published in:IEEE transactions on power systems Vol. 34; no. 1; pp. 506 - 517
Main Authors: Wu, Chenyu, Gu, Wei, Bo, Rui, Jiang, Ping, Wu, Zhi, Lu, Shuai, Yao, Shuai
Format: Journal Article
Language:English
Published: New York IEEE 01.01.2019
The Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subjects:
Algorithms
Cogeneration
Companies
Computer simulation
Demand side management
distributed algorithm
Distributed algorithms
Economic models
Energy consumption
Energy management
Game theory
Games
Home appliances
Markets
Measuring instruments
micro energy management system
Schedules
ISSN:0885-8950, 1558-0679
Online Access:Get full text
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Summary:The proliferation of technologies such as combined heat and power systems and smart meters has accelerated the multienergy trading. A two-stage game model is built in this paper to analyze the optimal strategy of each player and their interactions. Specifically, in consumer game model, we present an autonomous and distributed micro energy management system among users in which power and heat are traded at the same time. In supplier game model, integrated energy suppliers receive energy demand information and share the market according to the game result. In addition, we present a detailed proof of the existence and uniqueness of the Nash equilibrium, which lays the foundation for researchers to build an effective model using game theory. Further, a distributed algorithm specifically designed for this model is proposed. The players can retain a certain level of anonymity without revealing the details of their energy consumption or generation schedules to other players. Lastly, simulation results confirm the feasibility of two-stage game model and the effectiveness of the proposed distributed algorithm.
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ISSN:0885-8950
1558-0679
DOI:10.1109/TPWRS.2018.2864190