21st November 2018 - Seminar - Load Process and Price Adjustment for Smart Grid - Prof Junxiang Li - (University of Shanghai for Science & Technology and Newcastle University)

Time: 13:00-14:00

Venue: MATH-211, Second Floor, Department of Mathematical Science Building

Abstract: 

The recent development of smart meters and their incorporation into smart grid systems have allowed the analysis of household electricity consumption requirement in future. This development makes it possible to give a reasonable price in next time slots, which is a good tool to induce users to consume electricity more efficiently and wisely. We obtain the optimal consumption load and prices by establishing the real-time pricing model balancing supply and demand in every time slot. However, in reality, the user’s reserved consumption requirement load is often different from the optimal load. In some time slots, the difference is large considerably, which may result in an overload power system. We propose a bounded adjustment strategy to monitor users’ reserved consumption requirements. Using a price demand response mechanism, the power providers induce the users to adjust their reserved consumption requirements by the change of electricity price in response to variations in the difference between the users’ optimal and reserved consumption requirement loads. An exponential weighted moving average model is used to forecast the load differences in the next time slots. The price is adjusted in the next time slots only when the load difference exceeds a given upper or lower boundary to reduce the frequency of adjustment as far as possible. Our method can ensure the stability of actual consumption loads after adjustment. Numerical results show that when the parameters are set appropriately, the proposed scheme can achieve superior performance characterized by the stable actual consumption load close to the optimal load and balanced energy provision.