Real-time Pricing Mechanism in Smart Grid based on System of Incentive and Penalty
- Mengzhen Li, Yeming Dai, Yan Gao
- Corresponding Author
- Mengzhen Li
Available Online May 2019.
- https://doi.org/10.2991/bems-19.2019.61How to use a DOI?
- PMSC; real-time pricing; penalty mechanism; incentive factor; heuristic algorithm.
- In the smart grid, users, power suppliers and Power Market Scheduling Center are the main participants. In view of the increasing demand response ability of users, an identification mechanism of punishing malicious users and unstable power providers while incenting non-malicious users is proposed, and an optimization model to maximize social welfare is considered to study the real-time pricing problem in smart grid managed by PMSC. The model is analyzed by Lagrange dual method and finally solved by heuristic algorithm to obtain the optimal electricity price and power demand. The simulation results show that the algorithm can converge well and the reliability and stability of power system are optimized under the dual regulation of penalty and incentive. In addition, there is a positive correlation between the incentive factor and users’ utility and social welfare within proper range.
- Open Access
- This is an open access article distributed under the CC BY-NC license.
Cite this article
TY - CONF AU - Mengzhen Li AU - Yeming Dai AU - Yan Gao PY - 2019/05 DA - 2019/05 TI - Real-time Pricing Mechanism in Smart Grid based on System of Incentive and Penalty BT - 1st International Conference on Business, Economics, Management Science (BEMS 2019) PB - Atlantis Press SN - 2352-5428 UR - https://doi.org/10.2991/bems-19.2019.61 DO - https://doi.org/10.2991/bems-19.2019.61 ID - Li2019/05 ER -