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In a smart grid, communication technology allows short-term application of incentives in monetary form and thus dynamic pricing to the consumers. Incentives can help to reduce critical situations in grids, but for cost efficient application, they have to be optimized before the most suitable incentive is provided to the consumers. This paper introduces an assessment method for incentives taking into...
This paper proposes a distributed framework for demand response and user adaptation in smart grid networks. In particular, we borrow the concept of congestion pricing in Internet traffic control and show that pricing information is very useful to regulate user demand and hence balance network load. User preference is modeled as a willingness to pay parameter which can be seen as an indicator of differential...
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