Real-Time Pricing Strategy Considering the Risk of Smart Grid

Authors

Hongbo Zhu, 1. School of Management, University of Shanghai for Science and Technology, Shanghai 200093, China; ;2.Faculty of Mathematics and Physics, Huaiyin Institute of Technology, Huai’an 223003, China; ;
Gao Yan, 1. School of Management, University of Shanghai for Science and Technology, Shanghai 200093, China; ;
Yeming Dai, 3.School of Mathematics and Statistics, Qingdao University, Qingdao 266071, China;

Abstract

Abstract: The real-time electricity price mechanism is an ideal method to adjust the power balance between supply and demand in smart grid. Its implementation has profound impacts on the users' behavior and the operation and management of electricity power grid’s safety. The users’ demand behavior plays a regulatory role in designing real-time electricity pricing strategy. Aiming at maximizing social welfare, the dynamic change of users’ aggregate demand is analyzed, which corrects the electricity risk items in online real-time risk model in the way of changing the individual user’s power fluctuations to all the users’ demand power fluctuations, and the optimization model is rebuilt. An algorithm is presented to overcome the existing online one without computing the overall power consumption by equivalently conversing the optimization problem through dual method. The algorithm will help to get real-time electricity price. The model rationality and the proposed algorithm validity and feasibility are verified by numerical simulation results.

Recommended Citation

Zhu, Hongbo; Yan, Gao; and Dai, Yeming (2019) "Real-Time Pricing Strategy Considering the Risk of Smart Grid," Journal of System Simulation: Vol. 30: Iss. 4, Article 20.
DOI: 10.16182/j.issn1004731x.joss.201804020
Available at: https://dc-china-simulation.researchcommons.org/journal/vol30/iss4/20

First Page

1376

Revised Date

2016-05-28

DOI Link

https://doi.org/10.16182/j.issn1004731x.joss.201804020

Last Page

1383

CLC

TP391.9;TM743

Recommended Citation

Zhu Hongbo, Gao Yan, Dai Yeming. Real-Time Pricing Strategy Considering the Risk of Smart Grid[J]. Journal of System Simulation, 2018, 30(4): 1376-1383.

DOI

10.16182/j.issn1004731x.joss.201804020