Multi-time slots real-time pricing strategy with power fluctuation caused by operating continuity of smart home appliances

Zhu, Hongbo; Gao, Yan; Hou, Yuxin; Li, Tao

doi:10.1016/j.engappai.2018.02.010

Cited by 24 publications

(19 citation statements)

References 21 publications

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“…where  k is the Lagrangian multiplier which denotes the electricity price in time slot k [15] [18]. According to [19], (10) has the following subproblems:…”

Section: Optimal Modelmentioning

confidence: 99%

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Real-time Pricing Mechanism in Smart Grid based on System of Incentive and Penalty

Li¹,

Dai²,

Gao³

2019

Proceedings of the 1st International Conference on Business, Economics, Management Science (BEMS 2019)

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In the smart grid, users, power suppliers and Power Market Scheduling Center are the main participants. In view of the increasing demand response ability of users, an identification mechanism of punishing malicious users and unstable power providers while incenting nonmalicious users is proposed, and an optimization model to maximize social welfare is considered to study the real-time pricing problem in smart grid managed by PMSC. The model is analyzed by Lagrange dual method and finally solved by heuristic algorithm to obtain the optimal electricity price and power demand. The simulation results show that the algorithm can converge well and the reliability and stability of power system are optimized under the dual regulation of penalty and incentive. In addition, there is a positive correlation between the incentive factor and users' utility and social welfare within proper range.

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“…where  k is the Lagrangian multiplier which denotes the electricity price in time slot k [15] [18]. According to [19], (10) has the following subproblems:…”

Section: Optimal Modelmentioning

confidence: 99%

“…According to the above analysis, the optimal power consumption of non-malicious users can be should calculate and store the user's power consumption willing w i1 t1 and w i2 t1 according to (18) and (19).…”

Section: Advances In Economics Business and Management Research Volmentioning

confidence: 99%

Real-time Pricing Mechanism in Smart Grid based on System of Incentive and Penalty

Li¹,

Dai²,

Gao³

2019

Proceedings of the 1st International Conference on Business, Economics, Management Science (BEMS 2019)

Self Cite

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show abstract

“…The main work of the realtime pricing method based on the social welfare maximization model is to compute the shadow price (i.e., the Lagrange multiplier of an optimization problem). The demonstration proves that reasonable pricing can encourage users to actively participate in DR and is effective in shifting consumption from peak to off-peak periods and reducing the pressure on utility-handled equipment [18][19][20][21][22][23]. The government or power companies can set electricity or guidance prices based on the shadow price.…”

Section: Introductionmentioning

confidence: 99%

“…Hence, the dual method is used to solve the real-time pricing problem based on the social welfare maximization model. Asadi et al [17] developed a particle swarm optimization algorithm to determine real-time pricing for smart grids, whereas Zhu et al [21] solved the real-time pricing problem using a simulated annealing algorithm. Song et al [22] applied the gradient projection method to the problem of real-time pricing, and Wang et al [23] used a distributed online algorithm to determine energy distribution in smart grids.…”

Section: Introductionmentioning

confidence: 99%

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Real-time pricing method for smart grids based on complementarity problem

Wang

Gao

2019

J. Mod. Power Syst. Clean Energy

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Considering a demand response (DR) based social welfare maximization model, a complementarity problem based on the Karush-Kuhn-Tuker condition is described, which is a non-dual method for determining real-time price for smart grids. The Lagrange multiplier in the dual method, which is used to determine the basic electricity price, is applied in the model. The proposed method computes the optimal electricity consumption, price and production. According to the electricity price, users can arrange their electricity equipment reasonably to reduce the consumption pressure at peak time. The model aims to encourage users to actively participate in the DR and realize peak cutting and valley filling. In addition, the model considers different utility functions representing three types of users. Finally, a Jacobian smoothing version of Newton method is used to solve the model. Statistical simulations of the model validate the rationality and feasibility of the proposed method.

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Comprehensive evaluation of novel coupon incentive-based demand response for different entities in energy markets

Gul,

Suchitra,

Refaat

et al. 2024

Electr Eng

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Multi-time slots real-time pricing strategy with power fluctuation caused by operating continuity of smart home appliances

Cited by 24 publications

References 21 publications

Real-time Pricing Mechanism in Smart Grid based on System of Incentive and Penalty

Real-time Pricing Mechanism in Smart Grid based on System of Incentive and Penalty

Real-time pricing method for smart grids based on complementarity problem

Comprehensive evaluation of novel coupon incentive-based demand response for different entities in energy markets

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