PROJECT TITLE :

Optimal Bidding Strategy and Intramarket Mechanism of Microgrid Aggregator in Real-Time Balancing Market

ABSTRACT:

Microgrid (MG) system with multienergy resources features a wide and dispatchable generation vary and shows instant response, therefore, constituting a potentially appropriate real-time power balancing resource. In this paper, we have a tendency to introduce the concept of MG aggregator to involve tiny-scale MGs in real-time balancing market bidding via a hierarchical market framework. At the higher real-time market level, the bidding strategy of aggregator is optimized by a risk-constrained mean-variance model to depress the results of renewable energy sources (RES) uncertainty; at the lower intramarket level, an occurrence-driven mechanism is presented to achieve the cleared amount of the higher market whereas realizing maximum economy. Furthermore, the above-centralized self-scheduling problem of MG aggregator is decomposed into individual MG optimization issues to attain an optimal resolution with fast convergence. Simulation results verify that the proposed market framework and also the bidding strategy for MG aggregator are of high applicability in real market environment.