DOI:https://doi.org/10.1007/s40565-018-0426-0 |
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Personalized real time pricing for efficient and fair demand response in energy cooperatives and highly competitive flexibility markets |
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Page view: 0
Net amount: 723 |
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Author:
Georgios TSAOUSOGLOU1, Nikolaos EFTHYMIOPOULOS1, Prodrommos MAKRIS1, Emmanouel VARVARIGOS1,2
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Author Affiliation:
1. Department of Electrical and Computer Engineering, Institute
of Communication and Computer Systems, National
Technical University of Athens, Athens, Greece
2. Electrical and Computer Systems Engineering, Monash
University, Melbourne, Australia
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Foundation: |
This work was supported by the European Union’s Horizon 2020 Research and Innovation Program through the SOCIALENERGY Project (No. 731767). |
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Abstract: |
This paper contributes to the well-known challenge
of active user participation in demand side management
(DSM). In DSM, there is a need for modern
pricing mechanisms that will be able to effectively incentivize
selfishly behaving users in modifying their energy
consumption pattern towards system-level goals like
energy efficiency. Three generally desired properties of
DSM algorithms are: user satisfaction, energy cost minimization
and fairness. In this paper, a personalized–real
time pricing (P-RTP) mechanism design framework is
proposed that fairly allocates the energy cost reduction
only to the users that provoke it. Thus, the proposed
mechanism achieves significant reduction of the energy
cost without sacrificing at all the welfare (user satisfaction)
of electricity consumers. The business model that the
proposed mechanism envisages is highly competitive
flexibility market environments as well as energy
cooperatives. |
Keywords: |
Demand response, Smart grid, Electricity
pricing, Scheduling, Demand side management,
Personalized–real time pricing, Energy cooperative |
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Online Time:2019/01/28 |
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