A Market Mechanism to Quantify Emergency Energy Transactions Value in a Multi-Microgrid System

In this paper, a new market mechanism is proposed to quantify the value of emergency energy transactions in renewable-based multi-microgrid (MMG) systems. To reach this goal, main requirements and features of such emergency market are identified. Subsequently, a hybrid market framework is proposed which integrates pool emergency transactions and bilateral contracts in order to reduce the system risk in face of different contingency events. For settling different transactions in this market, the main procedure which should be followed by distribution system operator to properly address bidding of microgrids (MGs) as well as system technical constraints is introduced. In addition, a simple and efficient method is introduced to determine MGs' purchase/sell bids considering available resources and flexible demands. Market settling process and MGs bidding procedure are represented using efficient optimization models and effectiveness of the proposed framework is demonstrated via implementation on a test MMG system.