Main Challenges of Implementing Penalty Mechanisms in Transactive Electricity Markets
| Autor: | Mahmud Fotuhi-Firuzabad, Rahim Ghorani, Moein Moeini-Aghtaie |
|---|---|
| Rok vydání: | 2019 |
| Předmět: |
business.industry
Unintended consequences 020209 energy Energy Engineering and Power Technology Transactive energy 02 engineering and technology Market liquidity Transactive memory 0202 electrical engineering electronic engineering information engineering Business Electricity Electrical and Electronic Engineering Mechanism (sociology) Industrial organization |
| Zdroj: | IEEE Transactions on Power Systems. 34:3954-3956 |
| ISSN: | 1558-0679 0885-8950 |
| DOI: | 10.1109/tpwrs.2019.2908587 |
| Popis: | Efficient operation of electricity markets necessitates a penalty mechanism to penalize market participants who do not fulfill their market obligations. However, the traditional penalty mechanisms that have been successfully implemented in wholesale electricity markets may result in unintended consequences in transactive markets where the participants have uncertain supply or demand. In this regard, this letter investigates main challenges of applying traditional penalty mechanisms in transactive energy markets. Some efficient strategies are also proposed to operate the transactive markets in such a way that guarantees its security as well as liquidity. |
| Databáze: | OpenAIRE |
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