A Decision-Making Approach and Updating Strategy for Prosumer Participations in Transactive Energy Markets

Abstract

The concept of transactive energy(TE) markets is proposed to promote the local consumption of renewable energy and stimulate the regulating potential of flexible resources. Some users with distributed resources or regulation capabilities are transformed into prosumers with both production and consumption attributes. They can trade energy through bidding to get more benefits. Limited by information and decision-making capabilities, prosumers do not know how to fully use their resources to maximize the benefits under their personal preferences. This paper proposes a multi-objective segmented quotation and volume distribution approach for prosumers to make trading decisions. It can integrate risk and return and achieve the full deployment of available resources. In addition, an automatic strategy updating rule is also designed for prosumers who are unfamiliar with the market environment. It is conducive to helping producers further understand the market, adjust their strategies, and thus increase their earnings. Finally, examples are presented to demonstrate the effectiveness of the proposed method. It shows that the method can assist prosumers in making trading decisions, adjusting trading strategies and achieving personal income growth eventually.