Sharif Digital Repository

Among the different options available for market clearing mechanisms, offer cost minimisation mechanism is being used in most electric power markets. The payments are then calculated based on locational marginal prices (LMPs). The payments can be significantly higher due to the inconsistency of the clearing and pricing mechanisms. Payment cost minimisation (PCM) mechanism which directly minimises the total payment has been recently proposed to solve this issue. In this study, an auction mechanism is proposed for payment to suppliers minimisation (PSM) based on the LMPs instead of consumers payment minimisation (CPM). Using a proper formulation for the supply side reserve LMPs, the complete... 

Uncoordinated adoption of plug-in electric vehicles (PEVs) imposes further load on the distribution network, and therefore may result in disruptive impacts on the grid. Transactive coordination of PEVs has been introduced as an effective approach to mitigate these negative consequences. This paper furthers efforts enabling PEVs to participate in a real-time retail electricity market under a transactive energy (TE) paradigm. In this regard, PEV owners will estimate their willingness to pay/accept using a user-friendly strategy and submit the estimated values to the retail market operator. Then using a network-constrained market clearing mechanism, the clearing prices, i.e., dual variables of...