A Game-Theoretical Decision-Making Scheme for Electricity Retailers in the Smart Grid with Demand-Side Management

Bu, S. , Yu, F.R. and Liu, P.X. (2011) A Game-Theoretical Decision-Making Scheme for Electricity Retailers in the Smart Grid with Demand-Side Management. In: IEEE SmartGridComm, Brussels, Belgium, 17-20 Oct 2011, pp. 387-391. ISBN 9781457717048 (doi:10.1109/SmartGridComm.2011.6102353)

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Abstract

In the smart grid, demand-side management (DSM) is an important mechanism for improving the reliability of the grid by dynamically changing or shifting electricity consumption. Real-time pricing is one of the most important DSM strategies. Moreover, in an electricity market, retailers procure electricity from various electricity sources, and then sell it to customers. Therefore, it is critical for retailers to make effective procurement and price decisions. In this paper, we propose a novel game-theoretical decision-making scheme for electricity retailers in the smart grid using real-time pricing DSM. We model and analyze the interactions between the retailer and electricity customers as a four-stage Stackelberg game. Simulation results show the effectiveness of the proposed scheme and how the system parameters affect the procurement and price decisions.

Item Type:Conference Proceedings
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:Bu, Dr Shengrong
Authors: Bu, S., Yu, F.R., and Liu, P.X.
College/School:College of Science and Engineering > School of Engineering > Systems Power and Energy
ISBN:9781457717048
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