Optimal pricing algorithm in the electricity market with battery and accumulator and demand-supply balancing

Yuki Miyano; Toru Namerikawa

doi:10.1541/ieejeiss.133.1855

Optimal pricing algorithm in the electricity market with battery and accumulator and demand-supply balancing

Yuki Miyano, Toru Namerikawa

Department of System Design Engineering

Research output: Contribution to journal › Article › peer-review

Abstract

This paper considers Day-Ahead Market with battery and accumulator to level power generation. First, we model consumer with battery, generator with battery and accumulator to maximize their own profit. Then, the optimal pricing algorithm based on dual decomposition and Steepest Descent Method and proof the stability of the algorithm is proposed. Finally, we show the effectiveness of the algorithm with some numerical simulations which indicate that the proposed algorithm achieves the demand-supply balancing.

Original language	English
Pages (from-to)	1855-1863
Number of pages	9
Journal	IEEJ Transactions on Electronics, Information and Systems
Volume	133
Issue number	10
DOIs	https://doi.org/10.1541/ieejeiss.133.1855
Publication status	Published - 2013

Keywords

Demand response
Dual decomposition
Electricity liberalization
Steepest descent method

ASJC Scopus subject areas

Electrical and Electronic Engineering

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10.1541/ieejeiss.133.1855

Cite this

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abstract = "This paper considers Day-Ahead Market with battery and accumulator to level power generation. First, we model consumer with battery, generator with battery and accumulator to maximize their own profit. Then, the optimal pricing algorithm based on dual decomposition and Steepest Descent Method and proof the stability of the algorithm is proposed. Finally, we show the effectiveness of the algorithm with some numerical simulations which indicate that the proposed algorithm achieves the demand-supply balancing.",

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AB - This paper considers Day-Ahead Market with battery and accumulator to level power generation. First, we model consumer with battery, generator with battery and accumulator to maximize their own profit. Then, the optimal pricing algorithm based on dual decomposition and Steepest Descent Method and proof the stability of the algorithm is proposed. Finally, we show the effectiveness of the algorithm with some numerical simulations which indicate that the proposed algorithm achieves the demand-supply balancing.

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KW - Dual decomposition

KW - Electricity liberalization

KW - Steepest descent method

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Optimal pricing algorithm in the electricity market with battery and accumulator and demand-supply balancing

Abstract

Keywords

ASJC Scopus subject areas

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