Energy trading and markets in microgrids

Zhou, Yue ORCID: https://orcid.org/0000-0002-6698-4714 2023. Energy trading and markets in microgrids. Wang, Chengshan, Xu, Tao and Liu, Yixin, eds. Microgrid Methodologies and Emergent Applications, Academic Press, pp. 117-142. (10.1016/B978-0-323-95349-8.00006-0)

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Abstract

Microgrid (MG) energy trading is about the transfer of energy within or at the boundary of a MG, in exchange of money or other in-kind returns. MG energy trading spans across a wide range of temporal scales, from years/months/day/hours-ahead to the real time as well as the post-delivery stage, and can be conducted through bilateral contracts or on exchange (i.e., through intermediary marketplace). MG energy trading also spans across multiple spatial scales and has a hierarchical energy market structure. Proper energy and digital infrastructure are necessary for enabling MG energy trading. Relevant commercial and regulatory arrangements need to be in place for deploying MG energy trading commercially on a large scale in practice. Ultimately, MG energy trading can provide proper short-term (operational) and long-term (planning) incentive signals to reach reliable, cost-effective, environment-friendly and socially equitable energy supply in the long run, which benefits the customers, MGs, and wider energy systems.

Item Type:	Book Section
Date Type:	Publication
Status:	Published
Schools:	Engineering
Publisher:	Academic Press
ISBN:	978-0323953498
Last Modified:	24 Apr 2024 16:15
URI:	https://orca.cardiff.ac.uk/id/eprint/166156

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