Hierarchically structured energy markets as novel smart grid control approach

Authors:
Jörg Lässig;Benjamin Satzger;Oliver Kramer
Affiliations:
Enterprise Application Development Group, University of Applied Sciences, Zittau/Görlitz, Germany;Distributed Systems Group, Vienna University of Technology, Austria;Algorithms Group, ICSI Berkeley
Venue:
KI'11 Proceedings of the 34th Annual German conference on Advances in artificial intelligence
Year:
2011

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Abstract

The paper investigates the self-stabilization of hierarchically structured markets. We propose a new approach that is motivated by the physical structure of the energy grid and generalizes classical market structures in a natural way. Hierarchical markets have several advantages compared to monolithic markets, i.e., improved reliability and scalability, locality of information, and proximity of energy production and consumption. By simulating scenarios based on real world consumption and production data including households, different renewable energy sources, and other plant types, we present a proof-of-concept of stability of the hierarchical markets in various simulations.