Modeling the impact of multi-energy players on electricity market in smart grid environment

2011 ◽

Vol 63-64 ◽

pp. 493-496

Author(s):

Hong Ze Li ◽

Sen Guo ◽

Bao Wang

Keyword(s):

Smart Grid ◽

Power Quality ◽

Electricity Market ◽

Smart Materials ◽

Green Energy ◽

Market Reform ◽

Demand Side ◽

Low Carbon ◽

Interconnected Power System ◽

The Impact

China’s electricity market reform has been on almost 10 years, and the proposition of constructing "Strong Smart Grid” in China has aroused widespread concerns, and also made an impact on electricity market. To assess the impact on electricity market, considering the current situation of China's electricity market, based on smart materials, analyze the risks of electricity market from constructing smart grid in terms of low-carbon power accessing grid, wide-area interconnected power system and large-capacity batch of green energy accessing grid, and also propose some requirements for electricity market from the perspective of power quality, demand side management and trading platform. Developing smart grid will promote China’s electricity market reform.

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Price Discounts and Consumer Load-Shifting Behavior in the Smart Grid

International Journal of Business Analytics ◽

10.4018/ijban.2018010103 ◽

2018 ◽

Vol 5 (1) ◽

pp. 33-54 ◽

Cited By ~ 2

Author(s):

Eeyad Al-Ahmadi ◽

Murat Erkoc

Keyword(s):

Smart Grid ◽

Finite Number ◽

Electricity Market ◽

Stackelberg Game ◽

Electricity Consumption ◽

Game Model ◽

Peak Period ◽

Load Shifting ◽

Price Discounts ◽

The Impact

This paper studies the impact of consumers' individual attitudes towards load shifting in electricity consumption in an electricity market that includes a single electricity provider and multiple consumers. A Stackelberg game model is formulated in which the provider uses price discounts over a finite number of periods in order to induce incentives for consumers to shift their peak period loads to off-peak periods. The equilibrium outcomes are investigated and the analytical results are derived for this type of market, where not only the response behaviors of independent consumers are diverse but also an individual consumer's valuation of electricity consumption varies across periods. The obtained results demonstrate that consumer sensitivities to price discounts significantly impact price discounts and load-shifts, which are not necessarily monotonic. The authors also observe that a diverse market leads to lower peak-to-average values and provider payoffs compared to a homogenous market unless the latter one is composed of consumers with relatively lower inconvenience costs during the peak periods.

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Electricity market price forecasting in a price-responsive smart grid environment

IEEE PES General Meeting ◽

10.1109/pes.2010.5589334 ◽

2010 ◽

Cited By ~ 3

Author(s):

A Motamedi ◽

H Zareipour ◽

W D Rosehart

Keyword(s):

Smart Grid ◽

Electricity Market ◽

Market Price ◽

Price Forecasting ◽

Grid Environment

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Principal Component Analysis of Price Fluctuation in the Smart Grid Electricity Market

Sustainability ◽

10.3390/su10114019 ◽

2018 ◽

Vol 10 (11) ◽

pp. 4019 ◽

Cited By ~ 4

Author(s):

Kun Li ◽

Joseph Cursio ◽

Yunchuan Sun

Keyword(s):

Principal Component Analysis ◽

Smart Grid ◽

Transmission Lines ◽

Electricity Market ◽

Principal Component ◽

Grid System ◽

Price Fluctuations ◽

Electricity System ◽

Smart Grid System ◽

The Impact

Large price fluctuations have become a significant character and impede resource allocation in the electricity market. Negative prices and peak load spike prices coexist and represent over-supply and over-demand, respectively. It is important to interpret the impact of these extreme prices on sustainable power management from the perspective of economics. In this paper, we build a principal component analysis (PCA) to assess the impact of the two opposite phenomena on the smart grid electricity system. We perform a big-data study using intra-day data from the Pennsylvania, New Jersey, and Maryland (PJM) electricity system with over 11,000 transmission lines. As the contribution, this paper (1) measures the price fluctuations from the perspective of economics, (2) captures and observes the full-length behavior of negative and spike pricing in a modern smart grid system with multi-transmission lines and high-frequency price updates, and (3) employs methods with distinctive advantages to bring more in-depth findings to interpret the smart grid system. We find that spike prices hold the principal explanatory power for electricity market fluctuation in all the transmission lines. The results are consistent with previous studies about resolutions such as electrical energy storage, transmission capacity upgrade, and demand response.

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Price Discounts and Consumer Load-Shifting Behavior in the Smart Grid

10.4018/978-1-6684-3666-0.ch052 ◽

2022 ◽

pp. 1148-1169

Author(s):

Eeyad Al-Ahmadi ◽

Murat Erkoc

Keyword(s):

Smart Grid ◽

Finite Number ◽

Electricity Market ◽

Stackelberg Game ◽

Electricity Consumption ◽

Game Model ◽

Peak Period ◽

Load Shifting ◽

Price Discounts ◽

The Impact

This paper studies the impact of consumers' individual attitudes towards load shifting in electricity consumption in an electricity market that includes a single electricity provider and multiple consumers. A Stackelberg game model is formulated in which the provider uses price discounts over a finite number of periods in order to induce incentives for consumers to shift their peak period loads to off-peak periods. The equilibrium outcomes are investigated and the analytical results are derived for this type of market, where not only the response behaviors of independent consumers are diverse but also an individual consumer's valuation of electricity consumption varies across periods. The obtained results demonstrate that consumer sensitivities to price discounts significantly impact price discounts and load-shifts, which are not necessarily monotonic. The authors also observe that a diverse market leads to lower peak-to-average values and provider payoffs compared to a homogenous market unless the latter one is composed of consumers with relatively lower inconvenience costs during the peak periods.

Download Full-text