Bidding Strategy of Distributed Prosumers in Electricity Reserve Market Based on Information Gap Decision Theory

EasyChair Preprint 11315

Abstract

Distributed prosumers face market risks such as price fluctuations, load demand changes, and renewable energy generation output uncertainties when participating in electricity energy and ancillary service markets. In this paper, a bid decision model for distributed prosumers in the daily electricity and ancillary market is established using the Information Gap Decision Theory (IGDT). First, the agency architecture for distributed prosumers participating in these markets is analyzed. Next, a multi-type distributed resource regulation model is constructed, forming the basis of a decision model for the participation of distributed prosumers in the joint energy and ancillary market. Then, the various uncertainties faced by prosumers in their decision-making process are quantitively modeled using the information entropy theory, and an IGDT-based robust optimization model for deriving bidding strategies is developed. Finally, the proposed model is validated in the modified IEEE 33-node distribution system, and the bidding strategies generated by the proposed model effectively addresses the multiple uncertainties faced by prosumers, safeguarding their profits.

Keyphrases: Electricity energy market, IGDT, Information entropy theory, ancillary services market

@booklet{EasyChair:11315,
  author    = {Yongqing Liu and Zhenkun Zeng and Lei Wan and Bochun Zhan and Qibin Huang and Zhen Wang and Jiajia Yang and Fushuan Wen},
  title     = {Bidding Strategy of Distributed Prosumers in Electricity Reserve Market Based on Information Gap Decision Theory},
  howpublished = {EasyChair Preprint 11315},
  year      = {EasyChair, 2023}}