Nowadays the necessary coordination of trades to clear the energy market, while maintaining network security and adequacy of supply, is carried out centrally by a system operator. This paper examines the idea of an autonomously operating power system where energy trading is conducted in a decentralized manner among market players. A general decentralized solution framework is proposed, the main issues and challenges are discussed, and indicative results are presented to illustrate how the overall concept could work.
|Title of host publication||Bulk Power System Dynamics and Control - IX Optimization, Security and Control of the Emerging Power Grid (IREP), 2013 IREP Symposium|
|Number of pages||1|
|Publication status||Published - 2013|