Abstract
This paper presents an asynchronous decentralized method to solve the optimization problem of interconnected electricity markets. The proposed method decomposes the optimization problem of combined electricity markets into individual optimization problems. The impact of neighboring markets' information is included in the objective function of the individual market optimization problem by the standard Lagrangian relaxation method. Most decentralized optimization methods use synchronous models of communication to exchange updated market information among markets during the iterative process. In this paper, however, the solutions of the individual optimization problems are coordinated through an asynchronous communication model until they converge to the global optimal solution of combined markets. Numerical examples are presented to demonstrate the advantages of the proposed asynchronous method over the existing synchronous methods.
| Original language | English |
|---|---|
| Pages (from-to) | 283-290 |
| Number of pages | 8 |
| Journal | International Journal of Electrical Power and Energy Systems |
| Volume | 30 |
| Issue number | 4 |
| DOIs | |
| Publication status | Published - 2008 May |
Keywords
- Asynchronous communication
- Decentralized optimization
- Interregional energy trading
- Lagrangian relaxation
ASJC Scopus subject areas
- Energy Engineering and Power Technology
- Electrical and Electronic Engineering