Distributed dynamic pricing with alternating decision making of market players

Yoshihiro Okawa; Toru Namerikawa

doi:10.1109/SICE.2015.7285432

Distributed dynamic pricing with alternating decision making of market players

Yoshihiro Okawa, Toru Namerikawa

Department of System Design Engineering

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

2 Citations (Scopus)

Abstract

This paper deals with a distributed decision procedure for determining the electricity price for a future smart grid. In order to derive the optimal regional prices and improve the convergence speed of the algorithm without private information of market players, we propose a price decision algorithm with an alternating decision making of market players. In this paper, we show that the optimal regional prices derived by using our proposed algorithm maximize the social welfare of power networks which includes profits of power consumers and power suppliers with renewable energy generators. Also, we discuss the convergence property of the proposed price decision algorithm. Finally, the feasibility of our proposed dynamic pricing methodology is shown with numerical simulation results.

Original language	English
Title of host publication	2015 54th Annual Conference of the Society of Instrument and Control Engineers of Japan, SICE 2015
Publisher	Institute of Electrical and Electronics Engineers Inc.
Pages	888-893
Number of pages	6
ISBN (Print)	9784907764487
DOIs	https://doi.org/10.1109/SICE.2015.7285432
Publication status	Published - 2015 Sept 30
Event	54th Annual Conference of the Society of Instrument and Control Engineers of Japan, SICE 2015 - Hangzhou, China Duration: 2015 Jul 28 → 2015 Jul 30

Other

Other	54th Annual Conference of the Society of Instrument and Control Engineers of Japan, SICE 2015
Country/Territory	China
City	Hangzhou
Period	15/7/28 → 15/7/30

Keywords

Alternating decision making
Distributed dynamic pricing
Real-time pricing
Smart gird

ASJC Scopus subject areas

Control and Systems Engineering

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1109/SICE.2015.7285432

Cite this

Distributed dynamic pricing with alternating decision making of market players. / Okawa, Yoshihiro; Namerikawa, Toru.

2015 54th Annual Conference of the Society of Instrument and Control Engineers of Japan, SICE 2015. Institute of Electrical and Electronics Engineers Inc., 2015. p. 888-893 7285432.

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution

Okawa, Y & Namerikawa, T 2015, Distributed dynamic pricing with alternating decision making of market players. in 2015 54th Annual Conference of the Society of Instrument and Control Engineers of Japan, SICE 2015., 7285432, Institute of Electrical and Electronics Engineers Inc., pp. 888-893, 54th Annual Conference of the Society of Instrument and Control Engineers of Japan, SICE 2015, Hangzhou, China, 15/7/28. https://doi.org/10.1109/SICE.2015.7285432

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abstract = "This paper deals with a distributed decision procedure for determining the electricity price for a future smart grid. In order to derive the optimal regional prices and improve the convergence speed of the algorithm without private information of market players, we propose a price decision algorithm with an alternating decision making of market players. In this paper, we show that the optimal regional prices derived by using our proposed algorithm maximize the social welfare of power networks which includes profits of power consumers and power suppliers with renewable energy generators. Also, we discuss the convergence property of the proposed price decision algorithm. Finally, the feasibility of our proposed dynamic pricing methodology is shown with numerical simulation results.",

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Distributed dynamic pricing with alternating decision making of market players

Abstract

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Keywords

ASJC Scopus subject areas

UN SDGs

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