2022•Operations Research LettersOpen access

Bilevel aggregator-prosumers' optimization problem in real-time: A convex optimization approach

Koorosh Shomalzadeh, Jacquelien M.A. Scherpen, M. Kanat Camlibel

Abstract

This paper proposes a Real-Time Market (RTM) platform for an aggregator and its corresponding prosumers to participate in the electricity wholesale market. The proposed energy market platform is modeled as a bilevel optimization problem where the aggregator and the prosumers are considered as self-interested agents. We present a convex optimization problem which can capture a subset of the set of global optima of the bilevel problem as its optimal solution.

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Key concepts: News aggregator, Bilevel optimization, Mathematical optimization, Optimization problem, Computer science, Convex optimization, Set (abstract data type), Regular polygon