Abstract
The main pillar of a smart grid setup is the evolution from a vertically integrated, partially-automated and producer-controlled electric power network to a decentralized one that enables interactions among customers, network operators, and power producers. Accordingly, the existing and emerging stakeholders will change their roles. Furthermore, the smart networks are characterized by paradigm shift from exclusively ac to dc and hybrid ac/dc networks. In this work, the economic model among the producers/consumers (prosumers) in the hybrid networks is developed based on the mathematical formulation of their interactions along with the network technical aspects. The results demonstrate the effectiveness and validity of the proposed scheme in realizing possible buying/selling alternatives among the prosumers.