Enhancing Distribution System Resilience with Peer-to-Peer Transactions

To enhance the resilience of distribution systems, with improving the ability to withstand and rapidly recover in the face of high-impact, low-probability (HILP) events, has become increasingly essential. This paper explores the potential efficacy of peer-to-peer (P2P) transactions in enhancing distribution system resilience. Prosumers equipped with distributed energy resources (DERs) could support power supply in a local manner by forming P2P transactions to improve distribution system resilience. To describe the problem, we present a novel bi-level two-stage robust model considering both the pre-event and post-event stages, in which the distribution system operator (DSO) level generates the distribution locational marginal prices (DLMPs) and the prosumers level conducts P2P transactions incentivized by the DLMPs. The proposed solution draws upon the nested column-and-constraint generation (CCG) algorithm, further coupled with a bi-level interaction method by introducing deviation penalty functions. The case studies validate the effectiveness of the proposed approaches, demonstrating the multifaceted benefits of P2P transactions in enhancing distribution system resilience by reducing load shedding cost and quantity facing the HILP events as well as the operation cost.