A Transactive Network Template for Decentralized Coordination of Electricity Provision and Value

Abstract

While many interesting transactive energy systems have been proposed, few fully decentralize price discovery and price-responsive control. Even fewer plan for extensibility that will be needed for the ultimate growth of transactive networks and for the inclusion of additional and new objectives and new flexible, responsive assets. This paper introduces a transactive network template from which an agent may be configured at its network node to negotiate for electricity with other neighboring network agents, manage a set of locally-owned supply and demand assets, and induce local power balance through price discovery. A set of base object classes defines the template and may be extended. Three important basic computational responsibilities are allocated among the base object classes—scheduling, balancing, and network coordination. These several basic classes and responsibilities may be used to represent the perspective of large and small devices and regions anywhere in the electric power grid because they are based on the self-similarity of these objects and responsibilities. Agents in a transactive network are not at all unique in these basic responsibilities. The template is designed to be further extended to address and monetize still other valuable objectives.