Market-based prosumer participation in the smart grid

Abstract-Power balancing is an important issue when microgrids in island mode are considered. It requires active, real-time decision making to minimise the imbalances. El Farol Bar and Potluck problems are artificial problems designed to challenge the decision making process in a situation of limited information. They are theoretical, ill-defined problems designed to show that rational decision making in a situation of scarce information can give worse results than non-rational behavior. Potluck problem can be compared to electric power balancing in microgrids. But due to reduced complexity and constraints of theoretical problems and differences in goal functions the approach has to be in each case different. The study of these differences in this paper shows the importance of exchange of information between participants (or agents); it also suggest what type of information are necessary in what conditions. The amount of information that needs to be exchanged depends on the relation between participants (agents): the less cooperating their relation is, the less information they are willing to exchange.

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“…more expensive power systems). Presentation of market based energy control systems can be found in [6], [9], [14].…”

Section: Methods Of Power Balancingmentioning

confidence: 99%

“…General architectures of energy management systems might be found in [6], [7] and [8]. Details of the algorithm of the market based short-time balancing can be found in [9].…”

Section: Balancing Electric Energy In Microgridsmentioning

confidence: 99%

El Farol Bar problem, Potluck problem and electric energy balancing - on the importance of communication

Radziszewska¹,

Kowalczyk²,

Nahorski³

2014

Annals of Computer Science and Information Systems

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“…The term prosumer is defined as an entity that is a producer and a consumer simultaneously [19][20][21][22][23]. We investigate a regional prosumers' decentralized smart grid, called an inter-intelligent renewable energy network (i-Rene) [21,24].…”

Section: Prosumers' Decentralized Smart Gridmentioning

confidence: 99%

Convergent Double Auction Mechanism for a Prosumers’ Decentralized Smart Grid

et al. 2015

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Abstract:In this paper, we propose a novel automated double auction mechanism called convergent linear function submission-based double-auction (CLFS-DA) for a prosumers' decentralized smart grid. The target decentralized smart grid is a regional electricity network that consists of many prosumers that have a battery and a renewable energy-based generator, such as photovoltaic cells. In the proposed double-auction mechanism, each intelligent software agent representing each prosumer submits linear demand and supply functions to an automated regional electricity market where they are registered. It is proven that the CLFS-DA mechanism is guaranteed to obtain one of the global optimal price profiles in addition to it achieving an exact balance between demand and supply, even through the learning period. The proof of convergence is provided on the basis of the theory of LFS-DA, which gives a clear bridge between a function submission-based double auction and a dual decomposition (DD)-based real-time pricing procedure. The performance of the proposed mechanism is demonstrated numerically through a simulation experiment.

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“…This data is from a smart meter installed in an office of two people [42]. Measurements are done every second.…”

Section: Office Datasetmentioning

confidence: 99%

A time-series compression technique and its application to the smart grid

Eichinger

Efros

Karnouskos³

et al. 2014

The VLDB Journal

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Time-series data is increasingly collected in many domains. One example is the smart electricity infrastructure, which generates huge volumes of such data from sources such as smart electricity meters. Although today this data is used for visualization and billing in mostly 15-min resolution, its original temporal resolution frequently is more finegrained, e.g., seconds. This is useful for various analytical applications such as short-term forecasting, disaggregation and visualization. However, transmitting and storing huge amounts of such fine-grained data is prohibitively expensive in terms of storage space in many cases. In this article, we present a compression technique based on piecewise regression and two methods which describe the performance of the compression. Although our technique is a general approach for time-series compression, smart grids serve as our running example and as our evaluation scenario. Depending on the data and the use-case scenario, the technique compresses data by ratios of up to factor 5,000 while maintaining its usefulness for analytics. The proposed technique has outperformed related work and has been applied to three real-world energy datasets in different scenarios. Finally, we show that the proposed compression technique can be implemented in a state-of-the-art database management system.

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Market-based prosumer participation in the smart grid

Cited by 31 publications

References 9 publications

El Farol Bar problem, Potluck problem and electric energy balancing - on the importance of communication

El Farol Bar problem, Potluck problem and electric energy balancing - on the importance of communication

Convergent Double Auction Mechanism for a Prosumers’ Decentralized Smart Grid

A time-series compression technique and its application to the smart grid

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