Auction-Based Single-Sided Bidding Electricity Market: An Alternative to the Bilateral Contractual Energy Trading Model in a Grid-Tied Microgrid

Auction-Based Single-Sided Bidding Electricity Market: An Alternative to the Bilateral Contractual Energy Trading Model in a Grid-Tied Microgrid

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An auction-based single-sided bidding energy transaction mechanism in a grid-connected microgrid (MG) using a multi-agent system allows for better profit sharing for all stakeholders.This can replace existing bilateral contractual trade between the stakeholders.In the bilateral contractual energy trade model, energy transactions are either long-term, medium-term, or short-term agreements or bilateral negotiations between the stakeholders based on physical limits.Whereas in an auction-based mechanism, the energy transaction altitude sunscreen is in real time based on bidding strategies and supply-demand mismatches among the stakeholders.This work proposes a single-sided auction mechanism (SSAM) to clear the market based on the asking price of the seller and the supply-demand mismatch of the microgrid.

In addition, the new two bidding algorithms, namely the linear bidding algorithm (LBA) and the fuzzy logic-based bidding algorithm (FLBA), are developed for sellers to select the ‘ask’ quotes.The proposed auction-based, single-sided swisse high strength magnesium powder berry bidding energy transaction mechanism is tested and validated in the existing Malnad College of Engineering (MCE) grid-tied MG (bilateral contractual) trading model, Hassan-573201, Karnataka, India.The energy market simulation results yield promising findings, highlighting the advancement of proposed SSAM and bidding strategies in boosting the profit margin of sellers.