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Cooperative day-ahead bidding strategies for demand-side expected cost minimization

Authors Atzeni, Italo
Ordóñez, Luis G.
Scutari, Gesualdo
Perez Palomar, Daniel View this author's profile
Fonollosa, Javier R.
Issue Date 2013
Source ICASSP, IEEE International Conference on Acoustics, Speech and Signal Processing - Proceedings, Vamcouver, Canada , 26-31 May 2013, p. 5224-5228
Summary The envisioned smart grid aims to improve the interaction between the supply- and the demand-side of the electricity network, resulting in a great optimization potential. In this paper, we propose a holistic-based, distributed day-ahead demand-side management method that is suitable for energy markets subject to an external regulation. Here, active subscribers solve the nonconvex problem of deriving the bidding strategies that minimize their overall expected monetary expense and simultaneously optimize eventual dispatchable energy generation and storage strategies. We show that, when such users collaborate, they achieve greater saving with respect to the corresponding user-oriented, selfish optimization. In this setting, we propose a cooperative, distributed, and iterative algorithm providing the optimal bidding, production, and storage strategies of the users, along with its convergence properties. © 2013 IEEE.
ISSN 1520-6149
ISBN 9781479903566
Language English
Format Conference paper
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