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In the smart grid environment, demand side management makes it possible to encourage consumers participating more actively via proper pricing schemes. In this paper, we analyze previous real-time pricing models and then provide a comprehensive model. A new criterion for designing real-time pricing models is proposed, which can guarantee that the optimal solution obtained from centralized algorithms...
Large thermal power plants are the main sources of generation for conventional power systems. The traditional scheme will be challenged by new features of future smart grid: renewable energy (RE) sources, distributed generation (DG), energy storage (ES) and new type of loads such as electric vehicles (EV). In all the changes above, the role of modelling and analysis related to security for a large...
In the smart grid environment, customers are offered to participate more actively in the electricity energy market with the promise of demand side management (DSM) with distributed energy resources and energy storage. By utilizing proper incentive scheme such as dynamic pricing, numerous objectives could be achieved so that it could benefit both the utility companies and consumers. In this paper,...
The new dynamic pricing schemes encourage the consumers to participate more actively in the electricity energy market, and the smart meter and demand side management (DSM) make it possible. In this paper, we consider a smart grid environment with multiple users equipped with smart meters and energy management devices (EMD). An improved optimization method is proposed to maximize the social welfare...
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