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| Main Authors: | , |
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| Format: | Preprint |
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2023
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| Online Access: | https://arxiv.org/abs/2306.12644 |
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| _version_ | 1866917598734581760 |
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| author | Ding, Yifu Hobbs, Benjamin |
| author_facet | Ding, Yifu Hobbs, Benjamin |
| contents | Microgrids incorporate distributed energy resources (DERs) and flexible loads, which can provide energy and reserve services for the main grid. However, due to uncertain renewable generations such as solar power, microgrids might under-deliver reserve services and breach day-ahead contracts in real-time. If multiple microgrids breach their reserve contracts simultaneously, this could lead to a severe grid contingency. This paper designs a distributionally robust joint chance-constrained (DRJCC) game-theoretical framework considering uncertain real-time reserve provisions and the value of lost load (VoLL). Leveraging historical error samples, the reserve bidding strategy of each microgrid is formulated into a two-stage Wasserstein-metrics distribution robust optimization (DRO) model. A JCC is employed to regulate the under-delivered reserve capacity of all microgrids in a non-cooperative game. Considering the unknown correlation among players, a novel Bayesian optimization method approximates the optimal individual violation rates of microgrids and market equilibrium. The proposed game framework with the optimal rates is simulated with up to 14 players in a 30-bus network. Case studies are conducted using the California power market data. The proposed Bayesian method can effectively regulate the joint violation rate of the under-delivered reserve and secure the profit of microgrids in the reserve market. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2306_12644 |
| institution | arXiv |
| publishDate | 2023 |
| record_format | arxiv |
| spellingShingle | Joint Chance-constrained Game for Coordinating Renewable Microgrids with Service Delivery Risk: A Bayesian Optimization Approach Ding, Yifu Hobbs, Benjamin Optimization and Control Computational Engineering, Finance, and Science Microgrids incorporate distributed energy resources (DERs) and flexible loads, which can provide energy and reserve services for the main grid. However, due to uncertain renewable generations such as solar power, microgrids might under-deliver reserve services and breach day-ahead contracts in real-time. If multiple microgrids breach their reserve contracts simultaneously, this could lead to a severe grid contingency. This paper designs a distributionally robust joint chance-constrained (DRJCC) game-theoretical framework considering uncertain real-time reserve provisions and the value of lost load (VoLL). Leveraging historical error samples, the reserve bidding strategy of each microgrid is formulated into a two-stage Wasserstein-metrics distribution robust optimization (DRO) model. A JCC is employed to regulate the under-delivered reserve capacity of all microgrids in a non-cooperative game. Considering the unknown correlation among players, a novel Bayesian optimization method approximates the optimal individual violation rates of microgrids and market equilibrium. The proposed game framework with the optimal rates is simulated with up to 14 players in a 30-bus network. Case studies are conducted using the California power market data. The proposed Bayesian method can effectively regulate the joint violation rate of the under-delivered reserve and secure the profit of microgrids in the reserve market. |
| title | Joint Chance-constrained Game for Coordinating Renewable Microgrids with Service Delivery Risk: A Bayesian Optimization Approach |
| topic | Optimization and Control Computational Engineering, Finance, and Science |
| url | https://arxiv.org/abs/2306.12644 |