Hybrid day-ahead and real-time energy trading of renewable-based multi-microgrids: A stochastic cooperative framework

This paper proposes a multi-objective optimization framework to model the energy trading between microgrids and microgrid communities in the distribution systems. To this end, a hybrid cooperative and non-cooperative algorithm is presented where the microgrid community leads the optimization problem. The microgrid community performs a multi-objective optimization to determine the transactive retail prices to simultaneously improve its operation cost and system flexibility. However, the microgrids, as the followers of the problem, receive the retail prices from the microgrid community to decide on the amount of hourly trading with the microgrid community. The main objective of microgrids is to reduce their cost as much as possible. For this reason, they cooperate to form several coalitions to enhance their bargaining power in the market. Real-time scheduling will be done to increase the reliability of the proposed model and reduce the imbalance costs of the microgrid community and microgrids. The proposed model is tested on a general case study, and the simulation results show that the cooperation among microgrids reduces their operation costs from $ 3453.66 to $ 2984.33. Also, the multi-objective scheduling increases the flexibility by 28.5 %.