GTES: An optimized game-theoretic demand-side management scheme for smart grid

Fadlullah, Zubair Md, Quan, Duong M, Kato, Nei and Stojmenovic, Ivan 2014, GTES: An optimized game-theoretic demand-side management scheme for smart grid, IEEE systems journal, vol. 8, no. 2, pp. 588-597, doi: 10.1109/JSYST.2013.2260934.

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Title GTES: An optimized game-theoretic demand-side management scheme for smart grid
Author(s) Fadlullah, Zubair Md
Quan, Duong M
Kato, Nei
Stojmenovic, Ivan
Journal name IEEE systems journal
Volume number 8
Issue number 2
Start page 588
End page 597
Total pages 10
Publisher IEEE
Place of publication Piscataway, N.J.
Publication date 2014-06
ISSN 1932-8184
Keyword(s) Energy optimization
game theory
real-time pricing
smart grid
Summary Demand-side management in smart grids has emerged as a hot topic for optimizing energy consumption. In conventional research works, energy consumption is optimized from the perspective of either the users or the power company. In this paper, we investigate how energy consumption may be optimized by taking into consideration the interaction between both parties. We propose a new energy price model as a function of total energy consumption. Also, we propose a new objective function, which optimizes the difference between the value and cost of energy. The power supplier pulls consumers in a round-robin fashion and provides them with energy price parameter and current consumption summary vector. Each user then optimizes his own schedule and reports it to the supplier, which, in turn, updates its energy price parameter before pulling the next consumers. This interaction between the power company and its consumers is modeled through a two-step centralized game, based on which we propose our game-theoretic energy schedule (GTES) method. The objective of our GTES method is to reduce the peak-to-average power ratio by optimizing the users' energy schedules. The performance of the GTES approach is evaluated through computer-based simulations. © 2014 IEEE.
Language eng
DOI 10.1109/JSYST.2013.2260934
Field of Research 080501 Distributed and Grid Systems
Socio Economic Objective 970108 Expanding Knowledge in the Information and Computing Sciences
HERDC Research category C1.1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2014, IEEE
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