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The transactive energy framework provides value-driven control schemes that facilitate power delivery with higher efficiency, sustainability and economic soundness while ensuring the reliability and security of the energy infrastructure system. This article addresses the challenges and solution frameworks for the short-term operation of distributed energy resources, controllable demands, and microgrids in a transactive energy architecture, with a focus on the distributed energy management of hybrid AC/DC microgrids.

Electricity grid vulnerabilities can lead to outages with prolonged load interruptions. Research activities on the impact of natural disasters on power system are underway to figure out the outage reasons, identify the ways to prepare for preventive actions, and increase the resiliency for the corrective and preventive actions under such scenarios. This paper presented a review of the methods for the electricity grid vulnerability analysis, pre-disaster recovery planning, and post-disaster restoration models.

This paper proposes a novel framework for a distribution level transactive energy system in order to facilitate energy transaction among microgrids while improving efficiency and reliability of distribution system. The proposed market mechanism simultaneously considers competition among participants, distribution network reliability and operation conditions. To improve the reliability of supply, a reputation system is proposed, which ranks energy suppliers according to a reputation index based on their long term energy transaction history. A demand-oriented approach is utilized for extracting local energy prices. The local energy pricing scheme is based on combination of reputation scores, loss reduction indices and demand-side offering prices. A secondary market is proposed to use the capacity of energy suppliers for reliability support service in distribution network. The local pricing scheme for the reliability market is based on outage scenarios and customer interruption penalties. It is shown that the proposed model enforces energy suppliers to honor their generation commitments and prevents them from greedy behavior in the market. The energy market mechanism improves the reliability of supply and intensifies competition among participants. This mechanism directly reduces active power losses in distribution network and indirectly improves nodal voltage and branch loading profile. Moreover, utilizing the capacity of microgrids in improving the reliability of network, postpones network reinforcement investments needed for keeping the service continuity indices in acceptable range.