Pricing Mechanism and Trading Strategy Optimization for Microgrid Cluster Based on CVaR Theory

Author:

Chen Wengang1ORCID,Zhang Ying1,Chen Jiajia1,Xu Bingyin1

Affiliation:

1. School of Electrical and Electronic Engineering, Shandong University of Technology, Zibo 255049, China

Abstract

With the increasing penetration rate of renewable energy generation, the uncertainty of renewable energy output in microgrid cluster (MGC) leads to significant fluctuations in transaction volume, which may lead to the risk of transaction default. This paper proposes a day-ahead two layer trading model for microgrid cluster based on price trading mechanism and Conditional value-at-risk (CVaR) theory. Firstly, the upper-layer establishes an objective to minimize the overall power fluctuation of the microgrid cluster using Demand response (DR) with a penalty mechanism. The microgrid cluster adopts an internal pricing mechanism and adjusts transaction prices based on internal supply-demand conditions to guide microgrids’ participation in intracluster trading, thereby encouraging the microgrid to use the flexible resources to reduce power fluctuation. Secondly, the lower-layer optimization establishes an optimization model with the objective of minimizing the comprehensive operating cost of the microgrid cluster. The model employs backward scenario reduction techniques to obtain multiple sets of typical scenarios for renewable energy generation, and the CVaR theory is introduced to quantify the potential risk of transaction default. Finally, the effectiveness of the proposed models is verified through case studies considering various application scenarios.

Publisher

MDPI AG

Subject

Electrical and Electronic Engineering,Computer Networks and Communications,Hardware and Architecture,Signal Processing,Control and Systems Engineering

Reference32 articles.

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