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Transactive energy is a novel concept and emerging techniques for the resource coordination of electric power systems. By negotiating contracts between various devices, units and resources, transactive control techniques are believed to enable the optimal integration of distributed resources while maintaining the power system reliability. Due to its competitive advantages as a regulatory model for power grids, transactive energy and transactive control techniques have received enormous attention from both academia and industry. In the article, the concepts and basic idea of transactive energy and transactive control are introduced. Meanwhile, the state-of-the-art of the transactive energy research and implementation is presented. Further, the price-based mechanism of transactive energy techniques for optimal coordination and control is demonstrated in detail with an optimization model based transactive control solution for a flexible demand management problem. The detailed design of the transactive energy model for the optimal coordination of flexible demand in the demand management system is described. How the two-stage scheduling and operation problem of the flexible demand can b

Author

Zhaoxi Liu; Qiuwei Wu

Publisher

Elsevier

Published

2023

Language

EN

ISBN

9780128232118

Updated

2026-03-24