A Contract-based Trading Model for Electricity Suppliers in Smart Grids
This paper proposes an approach to categorize electricity suppliers (ESs) for energy trading between ESs and a single aggregator. A principal-agents game model is developed to model the interactions between an aggregator and different categories of ESs by considering the benefits of both parties...
| Main Authors: | , , , , |
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| Format: | Conference Paper |
| Published: |
2019
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| Online Access: | http://hdl.handle.net/20.500.11937/81218 |
| _version_ | 1848764336699342848 |
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| author | Amin, Uzma Hossain, M.J. Fernandez, E. Mahmud, K. Tiezheng, G. |
| author_facet | Amin, Uzma Hossain, M.J. Fernandez, E. Mahmud, K. Tiezheng, G. |
| author_sort | Amin, Uzma |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | This paper proposes an approach to categorize
electricity suppliers (ESs) for energy trading between ESs and a
single aggregator. A principal-agents game model is developed to
model the interactions between an aggregator and different
categories of ESs by considering the benefits of both parties. In a
proposed game, the aggregator as a principal will purchase a
certain amount of power from different-category ESs with the
cheapest pricing options available, and at the same time the ESs,
acting as agents will maximize their utilities by selling their power
to the aggregator instead of feeding the grid at a low rate. The
developed optimal contract-based scheme, which can be
implemented distributed manner, allows different-category ESs
to sell their power at different prices based on their unit
production cost to maximize their benefits, and the total cost to
the aggregator is minimized. Numerical analysis confirms the
effectiveness of the proposed ESs categorizing framework in the
development of a contract-based incentive mechanism for energy
trading. |
| first_indexed | 2025-11-14T11:17:44Z |
| format | Conference Paper |
| id | curtin-20.500.11937-81218 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T11:17:44Z |
| publishDate | 2019 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-812182021-02-10T02:47:07Z A Contract-based Trading Model for Electricity Suppliers in Smart Grids Amin, Uzma Hossain, M.J. Fernandez, E. Mahmud, K. Tiezheng, G. This paper proposes an approach to categorize electricity suppliers (ESs) for energy trading between ESs and a single aggregator. A principal-agents game model is developed to model the interactions between an aggregator and different categories of ESs by considering the benefits of both parties. In a proposed game, the aggregator as a principal will purchase a certain amount of power from different-category ESs with the cheapest pricing options available, and at the same time the ESs, acting as agents will maximize their utilities by selling their power to the aggregator instead of feeding the grid at a low rate. The developed optimal contract-based scheme, which can be implemented distributed manner, allows different-category ESs to sell their power at different prices based on their unit production cost to maximize their benefits, and the total cost to the aggregator is minimized. Numerical analysis confirms the effectiveness of the proposed ESs categorizing framework in the development of a contract-based incentive mechanism for energy trading. 2019 Conference Paper http://hdl.handle.net/20.500.11937/81218 10.1109/ISAP48318.2019.9065981 restricted |
| spellingShingle | Amin, Uzma Hossain, M.J. Fernandez, E. Mahmud, K. Tiezheng, G. A Contract-based Trading Model for Electricity Suppliers in Smart Grids |
| title | A Contract-based Trading Model for Electricity Suppliers in Smart Grids |
| title_full | A Contract-based Trading Model for Electricity Suppliers in Smart Grids |
| title_fullStr | A Contract-based Trading Model for Electricity Suppliers in Smart Grids |
| title_full_unstemmed | A Contract-based Trading Model for Electricity Suppliers in Smart Grids |
| title_short | A Contract-based Trading Model for Electricity Suppliers in Smart Grids |
| title_sort | contract-based trading model for electricity suppliers in smart grids |
| url | http://hdl.handle.net/20.500.11937/81218 |