Distributed dynamic pricing based on demand-supply balance and voltage phase difference in power grid

Yoshihiro Okawa, Toru Namerikawa

Research output: Contribution to journalArticle

5 Citations (Scopus)

Abstract

This paper discusses a distributed decision procedure for determining the electricity price for a real-time electricity marketin an energy management system. The price decision algorithm proposed in this paper derives the optimal electricity pricewhile considering the constraints of a linearized AC power grid model. The algorithm is based on the power demand-supplybalance and voltage phase differences in a power grid. In order to determine the optimal price that maximizes the social welfare distributively and to improve the convergence speed of the algorithm, the proposed algorithm updates the price through the alternating decision making of market participants. In this paper, we show the convergence of the price derived from our proposed algorithm. Furthermore, numerical simulation results show that the proposed dynamic pricing methodology is effective and that there is an improvement in the convergence speed, as compared with the conventional method.

Original languageEnglish
Pages (from-to)90-100
Number of pages11
JournalControl Theory and Technology
Volume13
Issue number2
DOIs
Publication statusPublished - 2015 May 22

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Keywords

  • AC model of power grid
  • real-time pricing
  • Smart gird

ASJC Scopus subject areas

  • Control and Systems Engineering
  • Aerospace Engineering
  • Control and Optimization

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