A Review on Modeling of Micro Markets

A Review on Modeling of Micro Markets

Author Name : A. Venkata Vinay, G. Ganesh Kumar, R. Prem Naga Sai Kumar, A. Sridhar

ABSTRACT

This paper reviews the modelling of Electricity Markets (Choosing Genco, ISO & Discom) incorporated with microgrids (MG) for real world applications. The penetration of MG with Electricity Markets (EM) which helps for better Unit Commitment and Economic Load Dispatch for consumers & prosumers also. Moreover, the current modellings can help the researchers to enhance the power system structure in an optimal manner. By modelling these commercial market modellings, it can support the resilience scenario for Energy Management Systems. This embedded MG in EM which helps to design the innovative modellings for the future challenges like big data analysis in EM.