The Role of Transactive Energy on Management of Flexible Resources

Sajjad Fattaheian Dehkordi, Mohammad Gholami, Ali Abbaspour, Matti Lehtonen

Research output: Chapter in Book/Report/Conference proceedingChapterScientificpeer-review

Abstract

Introduction and development of the smart city concept require significant transformations of conventional energy systems from the structure and operational and planning aspects. In this respect, distribution systems would be designed as multi-agent systems, where each agent strives to maximize its profit. In this context, the conventional operational management procedures associated with collecting and analyzing the information of all the resources by one entity seem not to be practical in the new structures of energy systems. Consequently, system operators should incorporate novel management strategies in order to procure operational services required for reliable and flexible operation of energy systems in smart cities. In other words, while the increasing trend of integrating local responsive resources such as electric vehicles and storage units could improve flexibility of the system, new operational management procedures should be developed in order to facilitate the efficient management of local flexible resources in smart cities. In this context, transactive energy (TE) is a novel concept which provides the possibility for decentralized operational management of resources in a system, while addressing privacy and security concerns. In this regard, TE would enable operators of energy systems in smart cities to affect the resource scheduling conducted by independent agents utilizing incentive signals. In other words, system operators would offer transactive signals to independent agents responsible for scheduling of flexible resources in order to incentivize their collaboration in providing flexibility services, which would finally lead to improvement of reliability and flexibility of smart energy systems. This chapter aims to review the role of the TE concept in decentralized management of flexible resources in smart energy systems. Moreover, TE-based flexibility management schemes for activating operational services required for addressing ramp-up and congestion issues in energy systems are presented to provide a comprehensive perspective of flexibility service activation by utilizing TE concept in smart cities.
Original languageEnglish
Title of host publicationFlexible Resources for Smart Cities
EditorsMiadreza Shafie-khah, M Hadi Amini
Chapter3
Pages45-65
Edition1
ISBN (Electronic)978-3-030-82796-0
DOIs
Publication statusE-pub ahead of print - Nov 2021
MoE publication typeA3 Part of a book or another research book

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