Asymmetric bargaining-based SOP planning considering peer-to-peer electricity trading

Ji, Haoran, Zheng, Yuxin, Yu, Hao, Zhao, Jinli, Song, Guanyu, Wu, Jianzhong ORCID: https://orcid.org/0000-0001-7928-3602 and Li, Peng 2024. Asymmetric bargaining-based SOP planning considering peer-to-peer electricity trading. IEEE Transactions on Smart Grid 10.1109/tsg.2024.3471611

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Abstract

The flexible power distribution devices, represented by soft open points (SOPs), can facilitate power exchange among regional distribution networks. However, given the substantial investment in SOPs, there exists an urgent need for their reasonable configuration and fair allocation among multi-stakeholders. Promisingly, the peer-to-peer (P2P) electricity trading based on SOPs can not only effectively reduce operational cost, but also impart revenue-generating abilities to SOP investment. Aiming at the optimal SOP configuration under multi-stakeholder investment, this paper proposes an asymmetric bargaining-based planning method for SOPs considering P2P trading. First, a planning-operation two-layer coupling framework of SOPs is established under multi-stakeholder games. In the planning layer, analyzing the game behaviors among multiple distribution companies (DISCOs), an asymmetric bargaining-based planning model is formulated to obtain the configuration and investment schemes of SOPs. In the operational layer, the P2P trading and the profitability of multiple DISCOs are driven by price incentives. Then, a two-layer coupling model is built and efficiently solved using the generalized Benders decomposition algorithm. Finally, the effectiveness of the proposed method is validated on a practical distribution network. The proposed method incentivizes investment in SOPs by balancing the interests of multiple DISCOs, while efficiently improving the operational performance of distribution networks.

Item Type:	Article
Date Type:	Published Online
Status:	In Press
Schools:	Engineering
Additional Information:	License information from Publisher: LICENSE 1: URL: https://ieeexplore.ieee.org/Xplorehelp/downloads/license-information/IEEE.html, Start Date: 2024-01-01
Publisher:	Institute of Electrical and Electronics Engineers
ISSN:	1949-3053
Funders:	National Natural Science Foundation of China
Date of First Compliant Deposit:	20 November 2024
Date of Acceptance:	28 September 2024
Last Modified:	20 Nov 2024 15:15
URI:	https://orca.cardiff.ac.uk/id/eprint/173057

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