Transactive-based control algorithm for real-time energy imbalance minimisation in microgrids

Modern power systems would compose of networked microgrids (MGs) operating independently. Respectively, MGs’ control units (MCUs) are responsible for optimising the operation of independent agents associated with local resources to maximise the social welfare of the system. In this regard, agents schedule their respective resources with the aim of maximising their profits; while MCU as a mediator entity strives to facilitate the flexibility of service exchange among the agents. In MGs, renewable energy sources (RESs) as potential sources of energy confront with uncertainty originated from their dependence on meteorological resources. Consequently, MGs would confront energy imbalance in real time as a result of probable inaccuracies corresponding with forecasting the power production of RESs in the day-ahead market. To tackle this issue, a transactive-based framework is developed in this study that enables MCUs to incentivise the cooperation of agents scheduling flexible resources in minimising energy imbalances in real time. Correspondingly, MCU offers bonuses as transactive signals to local agents to contribute in minimising the energy imbalance; which consequently results in improving the MG flexibility. Finally, the developed framework is implemented on an MG composed of independent agents scheduling flexible resources to investigate its effectiveness in minimising the energy imbalance in MGs.