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

Yoshihiro Okawa, Toru Namerikawa

Research output: Chapter in Book/Report/Conference proceedingConference 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 languageEnglish
Title of host publicationProceedings of the IEEE Conference on Decision and Control
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages7201-7206
Number of pages6
Volume2016-February
ISBN (Print)9781479978861
DOIs
Publication statusPublished - 2016 Feb 8
Event54th IEEE Conference on Decision and Control, CDC 2015 - Osaka, Japan
Duration: 2015 Dec 152015 Dec 18

Other

Other54th IEEE Conference on Decision and Control, CDC 2015
CountryJapan
CityOsaka
Period15/12/1515/12/18

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

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