An Electricity Trade Model for Microgrid Communities in Smart Grid

Distributed microgrid network is the major trend of future smart grid, which contains various kinds of renewable power generation centers and a small group of energy users. In the distributed power system, each microgrid acts as a “Prosumer” (producer and consumer) and maximizes its own social welfare. In addition, different microgrids can interact among each other through trading over a marketplace. In this paper, two models are introduced for microgrids to deal with the welfare maximization problems. In the model, a microgrid is considered as a closed economy group and decides the optimal power generation distribution in terms of time.

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University of Southampton