A hierarchical, market-based, non-cooperative game-theoretic approach to projecting flexible demand-side resources: Towards more realistic demand response-integrated, long-term energy planning models

Mohseni, S; Brent, AC; Kelly, S

A hierarchical, market-based, non-cooperative game-theoretic approach to projecting flexible demand-side resources: Towards more realistic demand response-integrated, long-term energy planning models

Mohseni, S Brent, AC Kelly, S

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Publisher:: IEEE
Publication Type:: Conference Proceeding
Citation:: International Conference on the European Energy Market, EEM, 2020, 2020-September, pp. 1-6
Issue Date:: 2020-09-01

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Field	Value	Language
dc.contributor.author	Mohseni, S
dc.contributor.author	Brent, AC
dc.contributor.author	Kelly, S https://orcid.org/0000-0002-8454-6144
dc.date	2020-09-16
dc.date.accessioned	2021-04-08T06:50:49Z
dc.date.available	2021-04-08T06:50:49Z
dc.date.issued	2020-09-01
dc.identifier.citation	International Conference on the European Energy Market, EEM, 2020, 2020-September, pp. 1-6
dc.identifier.isbn	9781728169194
dc.identifier.issn	2165-4077
dc.identifier.issn	2165-4093
dc.identifier.uri	http://hdl.handle.net/10453/147903
dc.description.abstract	This paper presents a non-cooperative, zero-sum, symmetric game approach to projecting the flexible demand-side resources to improve the reliability and robustness of long-term strategic energy planning models. A specifically devised distributed algorithm is put forward to determine the unique, pure-strategy Nash equilibrium of a non-cooperative game formulated for the delivery of aggregator-mediated demand response resources, at which no player can yield a higher payoff by deviating from its best-response strategy. The simulation for the operation of renewable energy systems is run over the course of a year. Furthermore, using a metaheuristic-based solution algorithm proposed for the optimal capacity planning of microgrids, the model was satisfactorily applied to the energy infrastructure planning of a test-case system conceptualized for the town of Ohakune, in New Zealand. The simulation results suggest that not only does the proposed market-directed, incentive-based, strategic demand-side management planning framework help elicit further contributions from the customers, which, in turn, reduces the reserve capacity requirements to meet the peak demand, it also guarantees the highest possible payoff for all players of the game. According to the simulation results, the test-case system's life-cycle cost can be reduced by up to ~29% compared to the case, where no demand response is considered.
dc.language	en
dc.publisher	IEEE
dc.relation.ispartof	International Conference on the European Energy Market, EEM
dc.relation.ispartof	International Conference on the European Energy Market
dc.relation.isbasedon	10.1109/EEM49802.2020.9221977
dc.rights	© 2020 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.	en_US
dc.rights	info:eu-repo/semantics/closedAccess
dc.title	A hierarchical, market-based, non-cooperative game-theoretic approach to projecting flexible demand-side resources: Towards more realistic demand response-integrated, long-term energy planning models
dc.type	Conference Proceeding
utslib.citation.volume	2020-September
utslib.location.activity	Stockholm, Sweden
utslib.for	080110 Simulation and Modelling
utslib.for	0907 Environmental Engineering
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/DVC (Research)
pubs.organisational-group	/University of Technology Sydney/DVC (Research)/Institute For Sustainable Futures
pubs.organisational-group	/University of Technology Sydney/Strength - ISF - Institute for Sustainable Futures
utslib.copyright.status	closed_access	*
pubs.consider-herdc	false
dc.date.updated	2021-04-08T06:50:22Z
pubs.finish-date	2020-09-18
pubs.place-of-publication	Piscataway, USA
pubs.publication-status	Published
pubs.start-date	2020-09-16
pubs.volume	2020-September
dc.location	Piscataway, USA

Abstract:

This paper presents a non-cooperative, zero-sum, symmetric game approach to projecting the flexible demand-side resources to improve the reliability and robustness of long-term strategic energy planning models. A specifically devised distributed algorithm is put forward to determine the unique, pure-strategy Nash equilibrium of a non-cooperative game formulated for the delivery of aggregator-mediated demand response resources, at which no player can yield a higher payoff by deviating from its best-response strategy. The simulation for the operation of renewable energy systems is run over the course of a year. Furthermore, using a metaheuristic-based solution algorithm proposed for the optimal capacity planning of microgrids, the model was satisfactorily applied to the energy infrastructure planning of a test-case system conceptualized for the town of Ohakune, in New Zealand. The simulation results suggest that not only does the proposed market-directed, incentive-based, strategic demand-side management planning framework help elicit further contributions from the customers, which, in turn, reduces the reserve capacity requirements to meet the peak demand, it also guarantees the highest possible payoff for all players of the game. According to the simulation results, the test-case system's life-cycle cost can be reduced by up to ~29% compared to the case, where no demand response is considered.

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http://hdl.handle.net/10453/147903