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arXiv · 2108.06251

Bilevel Aggregator-Prosumers' Optimization Problem in Real-Time: A Convex Optimization Approach

Koorosh Shomalzadeh·Jacquelien M. A. Scherpen·M. Kanat Camlibel
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Abstract

This paper proposes a Real-Time Market (RTM) platform for an aggregator and its corresponding prosumers to participate in the electricity wholesale market. The proposed energy market platform is modeled as a bilevel optimization problem where the aggregator and the prosumers are considered as self-interest agents. The current state-of-the-art Mathematical Programming with Equilibrium Constraints (MPEC) and Mixed-Integer Programming (MIP) based approaches to solve bilevel optimization problems are not satisfactory for real-time applications. The computation time for such approaches grows exponentially as the number of prosumers and decision variables increase. This paper presents a convex optimization problem which can capture a subset of the set of global optima of the bilevel problem as its optimal solution.

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Koorosh Shomalzadeh, Jacquelien M. A. Scherpen, M. Kanat Camlibel. 2021-08-13. Bilevel Aggregator-Prosumers' Optimization Problem in Real-Time: A Convex Optimization Approach. https://doi.org/10.1016/j.orl.2022.08.008

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