TY - GEN
T1 - A Fully Decentralized Distribution Market Mechanism Using ADMM
AU - Yang, Jiajia
AU - Dong, ZhaoYang
AU - Chen, Guo
AU - Wen, Fushuan
AU - Li, Chen
PY - 2019/8
Y1 - 2019/8
N2 - This 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. © 2019 IEEE.
AB - This 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. © 2019 IEEE.
KW - ADMM
KW - decentralized market mechanism
KW - Electricity distribution market
UR - https://www.scopus.com/pages/publications/85095451733
UR - https://www.scopus.com/record/pubmetrics.uri?eid=2-s2.0-85095451733&origin=recordpage
U2 - 10.1109/PESGM40551.2019.8973905
DO - 10.1109/PESGM40551.2019.8973905
M3 - RGC 32 - Refereed conference paper (with host publication)
T3 - IEEE Power and Energy Society General Meeting
BT - 2019 IEEE Power and Energy Society General Meeting (PESGM)
PB - IEEE
T2 - 2019 IEEE Power and Energy Society General Meeting (PESGM 2019)
Y2 - 4 August 2019 through 8 August 2019
ER -