Friday, 11:30 - 11:55 h, Room: MA 549

 

Deepak Bagchi
Optimal combinatorial auction for smart grids with renewable energy resources

Coauthor: Shantanu Biswas

 

Abstract:
We present an optimal combinatorial auction mechanism for the virtual power plant (VPP) formation problem in a smart grid with renewable energy sources. The VPP planner can source electricity from various suppliers generating electricity from
renewable energy sources. The planner has to solve the VPP formation problem to determines which VPP to form at any given point of time. We take into consideration the uncertainty in availability of renewable energy sources due to changing weather patterns.
To the best of our knowledge this is the first attempt at developing an optimal mechanism for the VPP formation problem. We have incorporated the uncertainty in availability of energy from renewable resources in the auction formulation to minimize the associated risks.We have stated and proved the necessary and sufficient conditions for Myerson optimal auction for VPP formation problem in the presence of single
minded suppliers.

 

Talk 3 of the contributed session Fri.1.MA 549
"Power flow modelling and mechanism design" [...]
Cluster 18
"Optimization in energy systems" [...]

 

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