Joint energy market design for local integrated energy system service procurement considering demand flexibility

Abstract Electric power system reform and innovative energy transaction policies have become increasingly common. In view of the fact that research on today’s multi-energy coupled market have not yet incorporated multi-energy substitution characteristics on the supply and demand sides, nor the coordination between regional and user level markets. A joint energy market was developed in this study for the procurement of local integrated energy system services considering demand flexibility. The transaction mechanisms of the regional level energy coupled market and user level Peer-to-Peer (P2P) distributed transaction market were determined accordingly. The multi-energy and complementary regional energy market was coupled with the user-level distributed transaction market that considering flexible demand response characteristics to establish a regional integrated energy system joint market. The electricity, gas, and heat markets in the regional market were modeled separately, then a joint clearing mechanism of the energy coupled market was established. An autonomous scheduling model for distributed market participants at the user level and a P2P transaction mechanism considering multi-agent non-cooperative game was proposed. The bidding behaviors of different energy operators in the regional level market were simulated to assess the influencing factors. The economic and technical benefits of P2P transactions at the user level as remitted to market participants were quantitatively determined with specific indexes. The correlations and interactions between the region level and user level markets were also analyzed.