Regional demand-supply management based on dynamic pricing in multi-period energy market

Yoshihiro Okawa; Toru Namerikawa

doi:10.1109/CDC.2015.7403355

Regional demand-supply management based on dynamic pricing in multi-period energy market

Yoshihiro Okawa, Toru Namerikawa

Department of System Design Engineering

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

3 Citations (Scopus)

Abstract

This paper deals with a regional demand response method based on dynamic electricity pricing in a multi-period energy market. In the proposed method, first, the power demand and supply in each area are determined considering power flow using the retail and wholesale electricity prices in a day-ahead market. Next, to adjust for power deviations caused by errors in power generation, our proposed method solves the problem of optimal allocation between power demand reduction by consumers and increased power supply from balancing generators in a real-time market. This paper also shows a distributed algorithm for obtaining the optimal values of each market player in both the day-ahead and real-time markets, and finally, numerical simulation results demonstrate the effectiveness of the proposed method.

Original language	English
Title of host publication	54rd IEEE Conference on Decision and Control,CDC 2015
Publisher	Institute of Electrical and Electronics Engineers Inc.
Pages	7201-7206
Number of pages	6
ISBN (Electronic)	9781479978861
DOIs	https://doi.org/10.1109/CDC.2015.7403355
Publication status	Published - 2015 Feb 8
Event	54th IEEE Conference on Decision and Control, CDC 2015 - Osaka, Japan Duration: 2015 Dec 15 → 2015 Dec 18

Publication series

Name	Proceedings of the IEEE Conference on Decision and Control
Volume	54rd IEEE Conference on Decision and Control,CDC 2015
ISSN (Print)	0743-1546
ISSN (Electronic)	2576-2370

Other

Other	54th IEEE Conference on Decision and Control, CDC 2015
Country/Territory	Japan
City	Osaka
Period	15/12/15 → 15/12/18

Keywords

Generators
ISO
Power demand
Power grids
Pricing
Real-time systems

ASJC Scopus subject areas

Control and Systems Engineering
Modelling and Simulation
Control and Optimization

Access to Document

10.1109/CDC.2015.7403355

Cite this

Okawa, Y., & Namerikawa, T. (2015). Regional demand-supply management based on dynamic pricing in multi-period energy market. In 54rd IEEE Conference on Decision and Control,CDC 2015 (pp. 7201-7206). [7403355] (Proceedings of the IEEE Conference on Decision and Control; Vol. 54rd IEEE Conference on Decision and Control,CDC 2015). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/CDC.2015.7403355

Regional demand-supply management based on dynamic pricing in multi-period energy market. / Okawa, Yoshihiro; Namerikawa, Toru.
54rd IEEE Conference on Decision and Control,CDC 2015. Institute of Electrical and Electronics Engineers Inc., 2015. p. 7201-7206 7403355 (Proceedings of the IEEE Conference on Decision and Control; Vol. 54rd IEEE Conference on Decision and Control,CDC 2015).

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

Okawa, Y & Namerikawa, T 2015, Regional demand-supply management based on dynamic pricing in multi-period energy market. in 54rd IEEE Conference on Decision and Control,CDC 2015., 7403355, Proceedings of the IEEE Conference on Decision and Control, vol. 54rd IEEE Conference on Decision and Control,CDC 2015, Institute of Electrical and Electronics Engineers Inc., pp. 7201-7206, 54th IEEE Conference on Decision and Control, CDC 2015, Osaka, Japan, 15/12/15. https://doi.org/10.1109/CDC.2015.7403355

@inproceedings{ce47701e0ce345b9916c21aef4927fce,

title = "Regional demand-supply management based on dynamic pricing in multi-period energy market",

abstract = "This paper deals with a regional demand response method based on dynamic electricity pricing in a multi-period energy market. In the proposed method, first, the power demand and supply in each area are determined considering power flow using the retail and wholesale electricity prices in a day-ahead market. Next, to adjust for power deviations caused by errors in power generation, our proposed method solves the problem of optimal allocation between power demand reduction by consumers and increased power supply from balancing generators in a real-time market. This paper also shows a distributed algorithm for obtaining the optimal values of each market player in both the day-ahead and real-time markets, and finally, numerical simulation results demonstrate the effectiveness of the proposed method.",

keywords = "Generators, ISO, Power demand, Power grids, Pricing, Real-time systems",

author = "Yoshihiro Okawa and Toru Namerikawa",

note = "Publisher Copyright: {\textcopyright} 2015 IEEE.; 54th IEEE Conference on Decision and Control, CDC 2015 ; Conference date: 15-12-2015 Through 18-12-2015",

year = "2015",

month = feb,

day = "8",

doi = "10.1109/CDC.2015.7403355",

language = "English",

series = "Proceedings of the IEEE Conference on Decision and Control",

publisher = "Institute of Electrical and Electronics Engineers Inc.",

pages = "7201--7206",

booktitle = "54rd IEEE Conference on Decision and Control,CDC 2015",

}

TY - GEN

T1 - Regional demand-supply management based on dynamic pricing in multi-period energy market

AU - Okawa, Yoshihiro

AU - Namerikawa, Toru

PY - 2015/2/8

Y1 - 2015/2/8

N2 - This paper deals with a regional demand response method based on dynamic electricity pricing in a multi-period energy market. In the proposed method, first, the power demand and supply in each area are determined considering power flow using the retail and wholesale electricity prices in a day-ahead market. Next, to adjust for power deviations caused by errors in power generation, our proposed method solves the problem of optimal allocation between power demand reduction by consumers and increased power supply from balancing generators in a real-time market. This paper also shows a distributed algorithm for obtaining the optimal values of each market player in both the day-ahead and real-time markets, and finally, numerical simulation results demonstrate the effectiveness of the proposed method.

AB - This paper deals with a regional demand response method based on dynamic electricity pricing in a multi-period energy market. In the proposed method, first, the power demand and supply in each area are determined considering power flow using the retail and wholesale electricity prices in a day-ahead market. Next, to adjust for power deviations caused by errors in power generation, our proposed method solves the problem of optimal allocation between power demand reduction by consumers and increased power supply from balancing generators in a real-time market. This paper also shows a distributed algorithm for obtaining the optimal values of each market player in both the day-ahead and real-time markets, and finally, numerical simulation results demonstrate the effectiveness of the proposed method.

KW - Generators

KW - ISO

KW - Power demand

KW - Power grids

KW - Pricing

KW - Real-time systems

UR - http://www.scopus.com/inward/record.url?scp=84962013243&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=84962013243&partnerID=8YFLogxK

U2 - 10.1109/CDC.2015.7403355

DO - 10.1109/CDC.2015.7403355

M3 - Conference contribution

AN - SCOPUS:84962013243

T3 - Proceedings of the IEEE Conference on Decision and Control

SP - 7201

EP - 7206

BT - 54rd IEEE Conference on Decision and Control,CDC 2015

PB - Institute of Electrical and Electronics Engineers Inc.

T2 - 54th IEEE Conference on Decision and Control, CDC 2015

Y2 - 15 December 2015 through 18 December 2015

ER -

Regional demand-supply management based on dynamic pricing in multi-period energy market

Abstract

Publication series

Other

Keywords

ASJC Scopus subject areas

Access to Document

Other files and links

Fingerprint

Cite this