Bilateral Transactions Research Articles

Research on cross regional green certificate bilateral distributed robust trading strategy based on Bayesian theory

To ensure the effective implementation of the compulsory green certificate transaction in China, a multi-participant cross-regional green certificate bilateral transaction model considering the relevant technical characteristics of the unit is proposed to solve the problems such as the mismatch between the supply and demand of green certificates and the reduction of the transaction plan by the grid operation constraints in the current green certificate transaction. To mobilize the initiative of participants, the model adopts the bilateral transaction of free negotiation. To balance the interests of transaction participants, the paper analyzes the complex interaction of multi participants in cross-regional bilateral transactions by using cooperative game theory. Simultaneously, the model considers multiple uncertainties among participants and takes into account the correlation of photovoltaic power in multiple periods. Based on the distributed robust theory, the multivariate nonlinear model and mixed-effect model of Bayesian are proposed to construct the fuzzy sets of the probability distribution for wind and photovoltaic power. On this basis, the paper analyzes the strategic behaviors of multi participants affected by uncertainty factors in the cross-regional green certificate bilateral trade through a numerical example, and quantitatively analyzes the sensitivity of each participant’s transaction plan affected by uncertainty factors. The results show that the degree of competition will affect the strategic behavior and income of the participants, and the full cooperation mode can not only avoid the risk of fluctuations in the transaction price and transaction power within the alliance but also stabilize the supply and demand of green certificate transactions.

Secured energy data transaction for prosumers under diverse cyberattack scenarios

Due to the increasing use of renewable energy sources and the advancement of smart grid technology, bilateral energy transactions between prosumers have attracted significant interest as a potential solution for efficient and decentralized energy distribution. Prosumers can establish direct energy exchanges by utilizing internet of things (IoT) technologies and arrangements with smart metering capabilities, eliminating the need for middlemen and allowing for more effective use of renewable energy sources. However, these direct energy exchanges between prosumers can be susceptible to cyber-threats, which hinder secure and effective energy transactions while protecting privacy. To enable safe and seamless energy transactions among prosumers and the grid, the cyber-security of IoT devices should be of paramount significance as a possible solution. Therefore, this paper focuses on securing the energy transactions among prosumers facilitated by smart meters. It aims to address potential threats against data integrity, confidentiality, and availability from the prosumers’ point of view and develop a comprehensive framework for securing energy transactions based on artificial intelligence (AI). The proposed structured roadmap not only identifies compromised trading data but also prevents prosumers from reacting to it by replacing the contaminated as well as missing trading data. A comparative analysis on AI-based algorithms indicates that decision tree (DT) outperforms support vector machine (SVM) and multi-layer perceptron (MLP) for the proposed framework to profile the corrupted trading data identification and categorization in order to provide effective outcomes. Additionally, the proposed framework adopts a deep learning (DL)-based model for the replacement of compromised trading data. All the numerical analyses, along with extensive simulation results, justify, the efficacy of the proposed framework.

Determinants of the factors affecting the governance structure choice of the pineapple value chain: A case study on market-based agroforestry in Bangladesh

This study examines the governance structures selected by pineapple farmers in the agroforestry system of Bangladesh and the determinants that impact their choices for these structures. To evaluate the factors influencing farmers' decisions to participate in spot markets, bilateral agreements, or association transactions, the study utilizes both quantitative and qualitative approaches, including surveys of 200 farmers, 15 focus group discussions (FGDs), and 2 key informant interviews (KIIs). In order to choose individual participants, the study employed a stratified random sampling technique. Utilising a multivariate probit (MVP) model, the study reveals crucial factors like age, education, farming experience, farm size, market certainty, weather influence, market connection, and pre-delivery conditions. Analysis indicates that spot market is the most favored governance structure (GS) among the three options in the agroforestry system, followed by bilateral transactions and association agreements. Evidence suggests that younger and less educated farmers tend to favor associations, whereas more experienced farmers tend to favor bilateral partnerships. Farms of bigger size typically refrain from joining groups, and unfavorable weather circumstances decrease the probability of engaging in spot markets. The study also demonstrates that robust market links exert an impact on the selection of governance frameworks. Considering the results, the study suggests enhancing training programs to facilitate farmers' understanding and involvement in associations, motivating farmer associations to appeal to larger farms and small farmers, and enhancing market information systems to establish robust market connections.

Nash–Cournot Equilibrium and Its Impact on Network Transmission Congestion

This paper evaluates the impact of congestion on transmission lines when the operation cost is minimized using economic dispatch (ED), comparing the results obtained with the Nash–Cournot Equilibrium (NCE). A methodology is developed for the optimal power flow solution through the NCE, considering the network topology (upper and lower generation limits, upper and lower limits of the transmission lines, and power balance) for a nine-node system without and considering two bilateral power transactions. The results show that the operation cost is higher when the NCE is implemented than ED. However, the problem of congestion in the transmission lines is reduced due to the equilibrium obtained in the power dispatch against minimizing the operation cost in the dispatch; the transmission lines with the most significant participation tend to become congested when additional bilateral transactions occur. Finally, the above is verified by obtaining the mean and median of the transmission line percentages used in the two simulations.

The right to protect the image of a minor: methods of implementation and specifics of protection

Relevance. The article analyzes the problems of protecting the image of minors in accordance with Art. 152.1 of the Civil Code of the Russian Federation, including judicial methods of its protection. The inconsistency of judicial practice on the application of provisions on the protection of the right to inviolability of the image of children is noted. An assessment of the norm under consideration in the context of law enforcement is given and legislative solutions are proposed to eliminate the shortcomings of its revision.The purpose of the study is to supplement and develop theoretical provisions that contribute to the deepening of scientific knowledge on the protection of the right to image children and the uniform application of Art. 152.1 of the Civil Code of the Russian Federation.Objectives: to analyze the decisions and decisions of the Supreme Court of the Russian Federation, courts of general jurisdiction in cases of protecting the right to image a minor; identify the reasons for the inconsistency of court decisions that impede the proper protection of this right; clarify the existing gaps in the version of Art. 152.1 of the Civil Code of the Russian Federation; formulate proposals aimed at improving the protection of photographs and video images of minors.Methodology. When writing the article, the author used methods of analysis and synthesis, induction and deduction, as well as dialectical-materialistic, formal-legal, formal-logical, system-analytical, documentary methods, as well as a method for generalizing judicial practice. The results of the study are applied and are reflected in the findings and formulated proposals for solving theoretical and practical problems related to the protection of the image of minors.Conclusion. The norm on the protection of the right to image requires modernization in terms of eliminating gaps that require the attention of the legislator. To overcome the contradictory interpretation of its meaning and the disunity of judicial practice, it is necessary to consolidate the concept of consent as a bilateral civil law transaction, introduce property compensation, and determine the rights of the second parent in case of his disagreement with the use of the child's image.

Shares owned by a limited liability company : grounds and consequences

The object of the study is the legal facts that lead to the emergence of rights to a share in the authorized capital of a limited liability company (hereinafter referred to as the company). The author examines the consequences of the appearance of a share owned by the company. The legislation provides for two types of shares in the authorized capital of the company, which can exist simultaneously. The first type arises as a result of payment by the participant of the authorized capital, which in return for the contributed property receives an indefinite right of participation. It is this right that is hidden behind the share owned by the participant. The second type has a derivative character and arises from the decisions of the supreme governing body or the behavior of the participant and belongs to the company throughout the year. The purpose of the work is to develop and construct new theoretical provisions on the grounds for the emergence and consequences of a share owned by the company. Research objectives: to determine the legal facts of the emergence of rights to a share in the authorized capital of the company, to systematize and classify the grounds for their occurrence and consequences. The following methods were used in conducting a study: permissive regulation, normativism, general contexts of a philosophical and legal nature and national law and order. The science of civil law is closely related to legal regulation, therefore, the doctrinal understanding of some constructions affects the consolidation of certain categories in the rule of law. This is exactly the category of the share owned by the company. It was found that the constructions associated with the transfer or acquisition by the company of rights to a share in its authorized capital are a legal fiction. The grounds for the emergence of a share owned by the company were classified, depending on the will of the latter: the first group consists of bilateral reimbursable transactions, and the second - two unilateral transactions. In both cases, the consequences are the same - the corporate legal relations arising from the right of participation and binding between the company and the participant are terminated. Three options for the sale of the share owned by the company were identified: the division of the former participant's right of participation among the remaining ones, sale to a predetermined buyer and repayment with a simultaneous decrease in the authorized capital and an increase in the size of the participants' shares while maintaining their nominal value.

Distributed optimal storage strategy in the ADMM-based peer-to-peer energy trading considering degradation cost

The increasing installed capacity of distributed energy resources (DERs) allows prosumers to have a more flexible and proactive role in power system operation. At the same time, it may affect the stability of the power grid. To reduce the DERs penetration in the main grid and maximize the profit of the end-users, a new energy trading paradigm called peer-to-peer (P2P) energy trading emerges in the area of the local community microgrid. However, few of the previous works combine types of energy generation and storage equipment to the microgrid framework and propose a throughout distributed optimization solution to this scalable framework considering the impact of battery degradation cost. In this paper, a novel parallel market clearing mechanism is proposed for P2P energy trading with end-users in a highly scalable residential community microgrid. The proposed mechanism takes into account a variety of realistic factors such as household privacy, user preferences, peak shaving services, community power grid-related usage fees, point-to-point bilateral transaction weights, and battery degradation costs. To make the microgrid more scalable, each household in the community is designed with different household energy generation and storage appliances including photovoltaic panels, wind turbines, plug-in electrical vehicles, and various household batteries with different capacities. A distributed approach based on the alternating direction method of multiplier (ADMM) algorithm is presented to solve the energy pricing problem while guaranteeing the privacy of all participants. The designed comparative case studies take into consideration the types of users, grid transaction methods, the influence of peak shaving fee, the impact of energy storage equipment, and the effect of battery degradation costs. The results show a significant reduction of both the cost of each user and the total cost in the P2P energy market while considering the degradation cost of home energy management systems and plug-in electric vehicles. The case studies also present that prosumers have greater advantages than consumers in P2P energy transactions. Peak shaving service and home energy storage devices can distribute and utilize energy more efficiently.

PUF-Based Digital Money with Propagation-of-Provenance and Offline Transfers Between Two Parties

Building on prior concepts of electronic money (eCash), we introduce a digital currency where a physical unclonable function (PUF) engenders devices with the twin properties of being verifiably enrolled as a member of a legitimate set of eCash devices and of possessing a hardware-based root-of-trust. A hardware-obfuscated secure enclave (HOSE) is proposed as a means of enabling a PUF-based propagation-of-provenance (POP) mechanism, which allows eCash tokens ( eCt ) to be securely signed and validated by recipients without incurring any third party dependencies at transfer time. The POP scheme establishes a chain of custody starting with token creation, extending through multiple bilateral in-field transactions, and culminating in redemption at the token-issuing authority. A lightweight mutual-zero-trust (MZT) authentication protocol establishes a secure channel between any two fielded devices. The POP and MZT protocols, in combination with the HOSE, enables transitivity and anonymity of eCt transfers between online and offline devices.

Electric vehicle participation for optimized load frequency control in a multi-area restructured power system

ABSTRACT Electric vehicles (EVs) can be employed intelligently in Vehicle-to-Grid (V2G) and Grid-to-Vehicle (G2V) modes for Load Frequency Control (LFC) in the power grid. Due to the rapid variation of charging or discharging power, EVs can perform frequency regulation tasks and serve as distributed energy storage devices. In this paper, a linearized model of an interconnected multi-area power system is formulated in the restructured environment to include Electric Vehicle Aggregators (EVA). The DISCO Participation Matrix (DPM) is used to model Poolco and bilateral contracts in restructured multi-area power systems along with the participation of EVs. The faster dynamic response of EVs can effectively control the deviations in area frequencies imposed by the DISCOs load demand. The gains of the integral controller employed in each area are tuned by Real Coded Genetic Algorithm (RGA) by minimizing the integral square error function for area frequency deviations. The efficacy of power support from the EVs for load frequency control is validated by simulating different Poolco and bilateral transactions. It is shown that the EVs have a significant impact on obtaining optimal transient response for area frequencies, tie-line powers and power generation of conventional thermal generating units for any type of transaction in a restructured environment.

Enhancement of ATC with FACTS Devices in Deregulated Power System Considering Various Contingency and Benefit Margins

The global electric power systems are under stressed condition because of increased per capita power consumption and ever-growing load demand. It is difficult to modify existing infrastructure of transmission systems to meet increasing load demand. The volume of electric power transmitted depends on the real and reactive power supply and the availability of margin in transmission system. Available Transfer Capability is an estimation of additional power transfer capability of the existing transmission system for a further market activity over and above the already committed power transactions. Factors such as weather, line and generator outages must be taken into account when computing the rigorous value of ATC. This paper focuses on enhancing the ATC limit of a system by employing STATCOM and Whale Optimization Algorithm for tuning system variables and to determine optimal size and location. An investigation has been carried out to understand the impacts of ATC by implementing line and generator outages in the test system. Additionally, an investigation has been done to realise the various benefit margins like ETC, TRM and CBM. The competence of the proposed methodology is validated by conducting different case studies on IEEE-30 bus test system using MATLAB for various bilateral and multilateral transactions.

Drivers of bilateral FDI inflows in North Africa region: a gravity model approach

Purpose- This paper aims to explore the main determinants of bilateral foreign direct investment (FDI) and investigate the relationship between bilateral trade and FDI inflows in five North African countries with 25 investment partners. Methodology- The study employs a gravity model and pooled time-series-cross-sectional regression method, utilizing a 10-year average over the period 2001-2010, the significance of this research lies in its contribution to the existing literature as the first study to analyze the factors influencing bilateral FDI inflows between North African countries and their primary investing partners. Findings- The results indicate that bilateral trade, economic size, financial development, and common language of host countries are key drivers of bilateral FDI inflows between North African countries and other nations. Furthermore, the presence of a common language between host and home countries has a significant and positive impact on bilateral FDI. However, the distance between host and home countries has a negative effect on FDI. Conclusion- This paper concludes that foreign direct investment (FDI) between North Africa and other nations was influenced positively by the economic sizes of both the home and host countries while being negatively affected by the physical distance between them. Additionally, the results demonstrate that the presence of a common language and bilateral trade play crucial roles, with their effects being highly positive and significant. This suggests that FDI flows tend to be greater between North African countries and those with whom they already have substantial bilateral trade transactions. Furthermore, the study concludes that France, the United Arab Emirates, Spain, and Kuwait are the most significant investing countries in the North African region in terms of FDI, surpassing other nations. Keywords: Bilateral FDI inflows, bilateral trade, gravity model, North Africa, geographical and culture factors. JEL Codes: F14, F21, F40, F30, F15

Integrating hydro and wind resources for effective congestion management in a hybrid electricity market

Congestion management in deregulated electricity systems threatens system security and reliability. Integration of renewable energy sources, unpredictable wind power, load demand, and the requirement for quickly deployable reserves make congestion management more difficult. While deciding the dispatch of the generating units, many factors have to be considered for the economic, secure, and reliable operation of the power system. This study presents a congestion management strategy that has been developed specifically for hybrid power systems. Within a pool and bilateral power supply market structure, it introduces a generator rescheduling-based congestion management technique. Ensuring safe bilateral transactions between these companies is crucial. Renewable sources affect congestion management dynamics, according to the research. The optimization issue includes operational limitations for scenarios with and without renewable source units. Monte Carlo simulation (MCS) was used to sample hourly wind speed from the Weibull PDF wind model. GAMS CONOPT solver used the model. General Algebraic Modeling System (GAMS)-MATLAB interface imported the model into MATLAB to extract the response. The best combination of renewable sources is 2 hydro + 1 wind unit as savings of congestion cost are $1403.6/h and $1855.18/h in case 1 (3-line congestion) and case 2 (2-line congestion), respectively. Results were accomplished by updating the IEEE-24 bus reliability test system with hydro and wind generators.

Трансформация договорных правоотношений в эпоху цифровизации

In modern society, multi-level changes are taking place in different areas of human activity due to the digitalization of social relations and the emergence of digital technologies. These processes do not bypass private law. In contract law, metamorphoses are manifested with the external expression of the will of the parties to bilateral and multilateral transactions, in connection with the transition to the digital space.

Research on an Improved Carbon Emission Flow Model Considering Electric Vehicle Charging Fluctuation and Hybrid Power Transaction

With the update of the power transaction mode and the access of increasing electric vehicles with high randomness to the power grid, the existing carbon emission flow calculation method cannot consider the influence of carbon emission due to the fluctuation in electric vehicle charging and various transaction modes. Given the above shortcomings, this paper proposes an improved carbon emission flow model considering electric vehicle charging fluctuations and hybrid power transactions. The model first considers different transaction modes, allocates the network loss to both sides of power generation, and forms a lossless network, realizing the decoupling of the bilateral transaction mode, pool transaction mode, and network loss and then calculating the day-ahead network’s carbon emission. Then, the changes in different transaction modes caused by the fluctuation in electric vehicle charging under different transaction modes are analyzed and the nodes of ‘spontaneous change’ are found to form a day-ahead intra-day deviation network and calculate its carbon emission flow. Finally, the calculation results are combined to obtain an improved power system carbon emission flow considering electric vehicle charging fluctuations and transaction modes. In this paper, the 33-node system is used for verification.

Bi-Level Emission Reduction Model of the Hybrid Power Market Based on Carbon Emission Flow Theory and Source–Load Coordination

Limited by the influence of network topology and other factors, the theory of carbon emission flow is unreasonable in the allocation of carbon responsibility on the user side, which leads to the low enthusiasm of users to respond to emission mitigation. The emergence of bilateral transactions provides users with the freedom to choose the type of power supply which is of great significance to exploring the potential of users to reduce emissions and promote the consumption of new energy. For this reason, this paper proposes a bi-level emission reduction model of the hybrid electricity market considering carbon emission flow and source–load coordination. The upper level aims to maximize the revenue of wind, photovoltaic, and thermal power generators and establishes a market-clearing model based on the trading rules of the hybrid electricity market to obtain the bid-winning power of each generator and the hybrid market electricity price. After the market is cleared, the carbon emission liability of the user side is calculated by using the carbon emission flow theory. The lower level takes the minimum cost of electricity consumption as the target and uses electricity price and carbon responsibility as incentives to establish a decision-making model for users to purchase electricity and guide users to actively choose green energy for consumption. The results of the example show that compared with the single pool market trading model the carbon emissions of the system are reduced by 11.9% while the income of the new energy power generations is increased by 9.84% and the electricity cost of the user is reduced by 21.2%, which underlines a mutually beneficial outcome for all stakeholders in the market.

Peran Pemerintah Dalam Meningkatkan Transaksi Dan Kerjasama Ekonomi

In connection with the development of the times, Indonesia is currently conducting international transactions and cooperation that aims to be able to prosper the community. This research was conducted with the aim of knowing the government's role in international economic transactions and cooperation. The research was carried out in the form of descriptive qualitative by collecting data using literature and summarizing the results of theories or opinions that had been done previously. The results show that Indonesia has made progress in the economic sector which has made the country prosperous. In connection with the existence of bilateral transactions and cooperation, the government plays an active role in this cooperation, where the exports and imports that can be carried out by the government to establish this cooperation make all parties mutually beneficial. The government uses fiscal policy by imposing tariffs on every exported or imported goods. Keywords: role of government, transactions, international cooperation

Microscopic, mesoscopic, and macroscopic structural correlations between the international energy “investment–trade” networks based on network motifs

In recent years, international energy investment and energy trade activities have developed rapidly. Because energy has commodity and financial product attributes, there is often a correlation between international energy trade and investment. This correlation has regional specificity due to the uneven geographical distribution of energy production and consumption. The existing literature mainly studies the correlation between the international energy “investment–trade” systems from a macroscopic or microscopic perspective. However, the relationship between them among countries from a mesoscopic perspective has not been fully demonstrated. With the development of economic globalization, we need to pay attention to whether the energy trade model of countries can reflect their preference for choosing investment partners and whether the energy investment model can reflect energy trade cooperation. In this paper, by taking the frontier approach of network motifs, we analyzed the correlation between international energy trade and investment from more than 200 economies worldwide from the macroscopic perspective, microscopic perspective, and local structure from a mesoscopic perspective. Meanwhile, we compared the results of the study in 2018 with those in 2022 to obtain the impact of international events on the international energy “investment–trade” networks. We found that 1) the structures of energy trade and investment networks are similar from a macroscopic perspective, which is the basis for exploring the correlation between energy trade and investment. 2) Bilateral cooperation and transaction transmission are important local structures of energy trade and energy investment activities. 3) The formation of an equal and close local structure among economies in energy trade is more likely to be preferred for investment cooperation, and forming a representative local structure with statistical significance among economies in energy investment is more likely to obtain energy trade cooperation. This work innovatively adopts motifs to study the correlation between energy investment and trade, which can help energy investors predict the direction of investment and provide guidance to governments in formulating energy trade policies.

Flexibility Analysis for Multi-Energy Microgrid and Distribution System Operator under a Distributed Local Energy Market Framework

Increasing the penetration rate of microgrids (MGs) for Local Energy Market (LEM) participation creates new challenges for the market-clearing process under a large number of requests for energy transactions. The market-clearing process for decentralized market frameworks is dependent on participants’ flexibility in negotiations for bilateral energy transactions. Multi-energy microgrids (MEMGs) include combined heat and power units which can be less dependent on electricity prices because of energy conversion equipment, gas infrastructure, and combined heat and power loads. In this regard, to evaluate prosumers’ flexibility role in market negotiations, a new analysis based on energy scheduling of MEMG considering a Demand-Response Program (DRP) model is executed under a distributed market structure. Moreover, two new flexibility indexes for market participants with attention to prosumers’ adaption capabilities are proposed. The results show that, under a 9.35% flexibility index improvement for the entire system, the social welfare function improved by 2.75%. Moreover, the results show that the DRP model for changeable and shiftable loads can improve the flexibility of the entire system by 35.82%. Combined heat and power load are considered as the resource of flexibility for system evaluations.

Liberalized automatic generation control of interconnected thermal‐hydro‐gas system using firefly algorithm optimized PID controller

AbstractIn liberalized power system, the distribution companies are free to choose the contracts with all available generating companies (GENCOs), while the independent system operator acting as regulatory authority. In this article, the liberalized automatic generation control problem is studied for a two‐area interconnected power system. The studies are divided into two parts. In first part, the investigations are carried out with only thermal generations in each area. In second part, the multi‐diverse sourced thermal‐hydro‐gas GENCOs are assumed in each control area. For damping out the system frequency and tie‐line power dynamics, the popularly known PI and PID controllers are employed considering poolco, bilateral and contract violation transactions. In both the parts, the comparative performance between PI/PID controllers is made. Studies reveal that PID outperforms PI controller. A case study with introduction of time delay in the system is performed as the open communication infrastructure introduces inherent time delay in the smart grid scenario. To understand the impact of frequency sensitive loads on system dynamics, the effect of variation in damping coefficient (D) is studied and it is shown how the D is influencing the dynamics. The effect of double reheat turbines is also studied and found that they deteriorate the dynamics when compared to single reheat turbines. In all the above studies, the powerful nature inspired firefly algorithm is employed to optimize the parameters of controllers using the integral squared error method.

A streamlined and enhanced iterative method for analysing power system available transfer capability and security

Available Transfer Capability (ATC) is a crucial indicator for ensuring the reliable and efficient electric grid as it helps to manage congestion and ensure that the power flows are kept within safe operating limits. This article presents a novel approach named as modified repeated alternating current power flow (MRACPF) with step-size control mechanism and compares it with the existing techniques like direct current power transfer distribution factors (DCPTDF) and repeated alternating current power flow (RACPF) for analyzing the ATC of the power system during bilateral wheeling transactions in MATLAB environment. The study further assesses the ATC in different multilateral wheeling transactions of two standard test systems (IEEE 30-bus and IEEE 118-bus) and evaluates inter-area ATCs for the IEEE 118-bus system under various operational scenarios. The Composite Security Index (CSI) which is based on both line flow limit and bus voltage limit violations is used to identify and rank the most severe (k-1) line contingencies, and is able to differentiate between secure and insecure state of the power system and furthermore, MRACPF with step-size control mechanism is used to assess ATC during the severe (k-1) line outage and generator outage scenarios for various power transactions. The MRACPF method produces comparable results to the RACPF method for obtaining the Available Transfer Capability (ATC), but it takes less time. This time savings can be significant, especially for larger power systems, where the execution time can be reduced by more than 50%.