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Energies 2017, 10(5), 670; doi:10.3390/en10050670

Energy Trading and Pricing in Microgrids with Uncertain Energy Supply: A Three-Stage Hierarchical Game Approach

1
School of Electrical Engineering, Yanshan University, Qinhuangdao 066004, China
2
Department of Energy Technology, Aalborg University, Aalborg 9100, Denmark
Current address: Hebei Avenue 438, Qinhuangdao 066004, China
*
Author to whom correspondence should be addressed.
Academic Editor: Pedro Faria
Received: 5 March 2017 / Revised: 22 April 2017 / Accepted: 6 May 2017 / Published: 11 May 2017
(This article belongs to the Special Issue Distributed Energy Resources Management)
View Full-Text   |   Download PDF [555 KB, uploaded 11 May 2017]   |  

Abstract

This paper studies an energy trading and pricing problem for microgrids with uncertain energy supply. The energy provider with the renewable energy (RE) generation (wind power) determines the energy purchase from the electricity markets and the pricing strategy for consumers to maximize its profit, and then the consumers determine their energy demands to maximize their payoffs. The hierarchical game is established between the energy provider and the consumers. The energy provider is the leader and the consumers are the followers in the hierarchical game. We consider two types of consumers according to their response to the price, i.e., the price-taking consumers and the price-anticipating consumers. We derive the equilibrium point of the hierarchical game through the backward induction method. Comparing the two types of consumers, we study the influence of the types of consumers on the equilibrium point. In particular, the uncertainty of the energy supply from the energy provider is considered. Simulation results show that the energy provider can obtain more profit using the proposed decision-making scheme. View Full-Text
Keywords: microgrid; uncertainty; hierarchical game; non-cooperative game (NCG); energy trading; pricing strategy microgrid; uncertainty; hierarchical game; non-cooperative game (NCG); energy trading; pricing strategy
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MDPI and ACS Style

Ma, K.; Hu, S.; Yang, J.; Dou, C.; Guerrero, J.M. Energy Trading and Pricing in Microgrids with Uncertain Energy Supply: A Three-Stage Hierarchical Game Approach. Energies 2017, 10, 670.

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