Optimal Real-Time Pricing Algorithm Based on Utility Maximization for Smart Grid

By Pedram Samadi, Amir-Hamed Mohsenian-Rad, Robert Schober, Vincent W. S. Wong, Juri Jatskevich. 2010 First IEEE International Conference on Smart Grid Communications, 2010

1,018 citations recorded by the source corpus.

Subfields: Control and Systems Engineering, Electrical and Electronic Engineering

View Paper: https://www.semanticscholar.org/paper/25ac6d3a6df94c9356ccfe66084502e29b5f4dc3

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Citations in the corpus

Vehicle-to-Aggregator Interaction Game (2012, background): “In [12], Kempton et al. studied the economic and social advantages of V2G systems and markets.”
Demand-Side Management via Distributed Energy Generation and Storage Optimization (2013, neutral): “Finally, we provide some concluding remarks in Section V.”
Energy Pricing and Dispatch for Smart Grid Retailers Under Demand Response and Market Price Uncertainty (2015, background): “1) is consumer i’s daily profit, where Uit(·) denotes his utility function in period t, and is usually assumed to be nondecreasing and concave [22].”
Three-Party Energy Management With Distributed Energy Resources in Smart Grid (2014, background): “In (1), kn ln(1 + en) is the utility that the RU n achieves from consuming energy en, where kn is a preference parameter [35], [36].”
A Survey on Demand Response Programs in Smart Grids: Pricing Methods and Optimization Algorithms (2015, methodology): “as the ones in [114], are needed in the analysis presented in [158], but in the latter case a single type of adjustable load is assumed.”
Demand Response Management via Real-Time Electricity Price Control in Smart Grids (2013, methodology): “The last thread of work is concerned with setting the real-time retail electricity price based on the maximization of the aggregate surplus of users and retailers subject to the supply-demand matching (e.g., [11]–[15]).”
Local flexibility markets: Literature review on concepts, models and clearing methods (2020, background): “[163] proposed a dual decomposition-based pricing strategy to determine prices in a distributed way and maximize the benefits of suppliers while minimizing the cost of consumers.”
Real-Time Pricing by Data Fusion on Networks (2018, methodology): “However, the method in [11] requires the observation of the states of all consumers, and so cannot be applied to the system in Fig.”
A game-theoretic approach for optimal time-of-use electricity pricing (2013, neutral): “These conditions are similar to the conditions for utility functions proposed in [12], but are different because the conditions here are used to model the satisfaction with the difference between demand and actual load.”
Smart Grid — The New and Improved Power Grid: A Survey (2012, neutral): “Researchers realize these objectives in various levels and from various perspectives, such as individual user cost/bill or profit [32], [40], [53], [69], [95], [120], [170], [171], [188], single energy bill or aggregate utility of a group of users [98], [220], cost or utility of electricity industry”
A Survey on Demand Response in Smart Grids: Mathematical Models and Approaches (2015, background): “For example, the energy demand of one user is constrained by lower and upper bounds [28], [32].”
Economics of Electric Vehicle Charging: A Game Theoretic Approach (2012, background): “This is mainly due to the fact that the integration of the PEVs into the network has a major impact on the power grid and can potentially double the average load [4 , 18].”
The Role of Aggregators in Smart Grid Demand Response Markets (2013, background): “The works [7], [8], [11] assume a social-welfare maximizing operator that communicates and negotiates directly with utility-maximizing end-users.”
Peer-to-Peer Energy Trading in a Prosumer-Based Community Microgrid: A Game-Theoretic Model (2019, background): “The responses of different prosumers to various scenarios can be modeled by using the concept of utility function [24].”
Advanced Demand Side Management for the Future Smart Grid Using Mechanism Design (2012, background): “This problem has already been considered for smart grid [20] and in other contexts such as in telecommunication networks [21]–[23].”
Design and Stability of Load-Side Primary Frequency Control in Power Systems (2013, background): “, [5], [27], [28] for other cost functions that satisfy Condition 1.”
Demand Response Optimization for Smart Home Scheduling Under Real-Time Pricing (2012, background): “While the energy consumption of practical electric appliances can be modeled from physical consideration, the corresponding customer’s satisfaction is usually encapsulated using the concept of utility function [5], [6], [11].”