Actions sequence for the market operation in the time domain and Powerflows and bids in the microgrid

The overall procedure is the following:

1. The Market Operator (MO) announces the prices for selling (SP) or buying (BP) energy to the Microgrid. Normally it is SP>BP.
2. The local loads announce their demands for the next 15 minutes and an initial price (DP) for the kWh. It is DP>BPand DP<SP.
3. The production units accept or decline the load offer according to an Auction Price (AP).
4. The negotiation continues for a specific time (5 min).
5. After the end of the negotiation time, all the units have adjusted their set points. If there is no production unit within the Microgrid to satisfy the load demand, the power is bought from the grid. In addition, the grid can be considered as a load too, so the production or storage units can sell energy to the grid.

Source:
Aris L. Dimeas, Nikos D. Natziargyriou “Operation of Multiagent System for Microgrid Control” IEEE Transactions on Power Systems, Vol. 20, No. 3, August 2005.




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