Two-stage Wasserstein-based DRCCO for coordinated P2P Transactions across multiple distribution networks

Recently, with the increase in the penetration of distributed renewable energy resources (RESs), distribution networks (DNs) poses significant challenges to system operation due to their inherent uncertainty. This paper proposes a novel framework in which a distribution system operator (DSO) actively coordinates peer-to-peer (P2P) energy transactions across multiple DNs to effectively manage these challenges. We formulate a two-stage distributionally robust chance-constrained optimization (DRCCO) model that minimizes the total operational cost of the entire system using a computational efficient robust approach, while simultaneously ensuring network security through Wasserstein-metric-based DRCCs. This advanced methodology robustly manages voltage violations under RES and load uncertainties without relying on specific probability distributions or resorting to overly conservative solutions. A key innovation for ensuring tractability is the linearization of non-linear voltage DRCCs using voltage sensitivity analysis, which transforms the originally intractable problem into an efficient, deterministic equivalent constraint. The effectiveness of the proposed framework are validated through comprehensive case studies on the modified IEEE 85-bus and 69-bus test systems, demonstrating a practical approach to achieving both economic efficiency and operational reliability in interconnected multi-network environments. Numerical results show that the proposed method reduces the total operational cost by 10.7% compared to the base case. Moreover, it achieves an out-of-sample violation rate of 4.8%, satisfying the predefined probability level 5%.