Modeling the cross impact of multi-energy player's price equilibrium in retail and wholesale markets

M.Y. Damavandi; N. Neyestani; S. Bahramara; M. Shafie-khah; J.P.S. Catalão

doi:10.1109/PTC.2017.7981242

Modeling the cross impact of multi-energy player's price equilibrium in retail and wholesale markets

M.Y. Damavandi, N. Neyestani, S. Bahramara, M. Shafie-khah, J.P.S. Catalão

Onderzoeksoutput: Hoofdstuk in Boek/Rapport/Congresprocedure › Conferentiebijdrage › Academic › peer review

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Integration of emerging energy resources in distribution level reveals new opportunities for decision makers to coordinate various energy vectors under the concept of multi-energy system (MES). In this paper, the behavior of a multi-energy player (MEP) who can trade more than one energy carrier to enhance operational flexibility of MES has been investigated. MEP participates in retail and wholesale energy markets to maximize its profit. The strategic behavior of MEP in these two markets is modeled as two synchronized bi-level problems. The problem is linearized and solved through CPLEX 12 solver. Numerical results show the behavior of MEP as a prosumer in the electricity market to make a smother demand and price profile. Moreover, the results reveal a mutual effect of local and wholesale equilibrium prices by increasing the market share of MEP.

Originele taal-2	Engels
Titel	2017 IEEE Manchester PowerTech
Uitgeverij	Institute of Electrical and Electronics Engineers
Pagina's	1-6
Aantal pagina's	6
ISBN van elektronische versie	978-1-5090-4237-1
DOI's	https://doi.org/10.1109/PTC.2017.7981242
Status	Gepubliceerd - 20 jul. 2017
Extern gepubliceerd	Ja
Evenement	2017 IEEE Manchester PowerTech - Manchester, Verenigd Koninkrijk Duur: 18 jun. 2017 → 22 jun. 2017

Congres

Congres	2017 IEEE Manchester PowerTech
Land/Regio	Verenigd Koninkrijk
Stad	Manchester
Periode	18/06/17 → 22/06/17

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@inproceedings{939ef410612b4c2da079cf1bdb60ab41,

title = "Modeling the cross impact of multi-energy player's price equilibrium in retail and wholesale markets",

abstract = "Integration of emerging energy resources in distribution level reveals new opportunities for decision makers to coordinate various energy vectors under the concept of multi-energy system (MES). In this paper, the behavior of a multi-energy player (MEP) who can trade more than one energy carrier to enhance operational flexibility of MES has been investigated. MEP participates in retail and wholesale energy markets to maximize its profit. The strategic behavior of MEP in these two markets is modeled as two synchronized bi-level problems. The problem is linearized and solved through CPLEX 12 solver. Numerical results show the behavior of MEP as a prosumer in the electricity market to make a smother demand and price profile. Moreover, the results reveal a mutual effect of local and wholesale equilibrium prices by increasing the market share of MEP.",

keywords = "Cogeneration, Resistance heating, Electricity supply industry, Decision making, Natural gas, Mathematical model",

author = "M.Y. Damavandi and N. Neyestani and S. Bahramara and M. Shafie-khah and J.P.S. Catal{\~a}o",

year = "2017",

month = jul,

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language = "English",

pages = "1--6",

booktitle = "2017 IEEE Manchester PowerTech",

publisher = "Institute of Electrical and Electronics Engineers",

address = "United States",

note = "2017 IEEE Manchester PowerTech ; Conference date: 18-06-2017 Through 22-06-2017",

}

Damavandi, MY, Neyestani, N, Bahramara, S, Shafie-khah, M & Catalão, JPS 2017, Modeling the cross impact of multi-energy player's price equilibrium in retail and wholesale markets. in 2017 IEEE Manchester PowerTech., 7981242, Institute of Electrical and Electronics Engineers, blz. 1-6, 2017 IEEE Manchester PowerTech, Manchester, Verenigd Koninkrijk, 18/06/17. https://doi.org/10.1109/PTC.2017.7981242

Modeling the cross impact of multi-energy player's price equilibrium in retail and wholesale markets. / Damavandi, M.Y.; Neyestani, N.; Bahramara, S. et al.
2017 IEEE Manchester PowerTech. Institute of Electrical and Electronics Engineers, 2017. blz. 1-6 7981242.

Onderzoeksoutput: Hoofdstuk in Boek/Rapport/Congresprocedure › Conferentiebijdrage › Academic › peer review

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T1 - Modeling the cross impact of multi-energy player's price equilibrium in retail and wholesale markets

AU - Damavandi, M.Y.

AU - Neyestani, N.

AU - Bahramara, S.

AU - Shafie-khah, M.

AU - Catalão, J.P.S.

PY - 2017/7/20

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N2 - Integration of emerging energy resources in distribution level reveals new opportunities for decision makers to coordinate various energy vectors under the concept of multi-energy system (MES). In this paper, the behavior of a multi-energy player (MEP) who can trade more than one energy carrier to enhance operational flexibility of MES has been investigated. MEP participates in retail and wholesale energy markets to maximize its profit. The strategic behavior of MEP in these two markets is modeled as two synchronized bi-level problems. The problem is linearized and solved through CPLEX 12 solver. Numerical results show the behavior of MEP as a prosumer in the electricity market to make a smother demand and price profile. Moreover, the results reveal a mutual effect of local and wholesale equilibrium prices by increasing the market share of MEP.

AB - Integration of emerging energy resources in distribution level reveals new opportunities for decision makers to coordinate various energy vectors under the concept of multi-energy system (MES). In this paper, the behavior of a multi-energy player (MEP) who can trade more than one energy carrier to enhance operational flexibility of MES has been investigated. MEP participates in retail and wholesale energy markets to maximize its profit. The strategic behavior of MEP in these two markets is modeled as two synchronized bi-level problems. The problem is linearized and solved through CPLEX 12 solver. Numerical results show the behavior of MEP as a prosumer in the electricity market to make a smother demand and price profile. Moreover, the results reveal a mutual effect of local and wholesale equilibrium prices by increasing the market share of MEP.

KW - Cogeneration

KW - Resistance heating

KW - Electricity supply industry

KW - Decision making

KW - Natural gas

KW - Mathematical model

U2 - 10.1109/PTC.2017.7981242

DO - 10.1109/PTC.2017.7981242

M3 - Conference contribution

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Y2 - 18 June 2017 through 22 June 2017

ER -

Modeling the cross impact of multi-energy player's price equilibrium in retail and wholesale markets

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