Economic Dispatch of Power Retailers: A Bi-Level Programming Approach via Market Clearing Price

For power retailers in a smart grid, it is necessary to design an economic dispatch method maintain balance between supply and demand on the sale side as well obtain better benefits. This study concentrates of dominant retailer regional market. The considered be equipped with generator resources such distributed photovoltaics (PV), wind turbines (WT), microturbines (MT). As one cannot exactly predict market conditions other retailers, retail modeled dichotomous-market model consisting result, bi-level optimal proposed for based model. In model, outer problem aims minimize costs purchases under time-of-use (TOU) price given clearing process, while inner formulated simulate process clearing. Furthermore, converted single-level via Karush–Kuhn–Tucker (KKT) eventually solved by employing YALMIP toolbox Gurobi solver. Finally, case conducted validate effectiveness adaptability analysis variables presented.