Optimal Balancing Transaction Mechanism for Dynamic Storage Management in Smart Grid

Takayuki Shimizu, Yasuaki Wasa, Kenko Uchida

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

This paper proposes an optimal balancing transaction mechanism for dynamic storage management in smart grids in order to minimize the imbalance penalty charge of the grid in the wholesale electricity market. The proposed mechanism guarantees that the optimal power charge control profiles of the storage devices constitute a dynamic market equilibrium with a real-time pricing mechanism in a distributed fashion. Under the linear-quadratic dynamic grid model, the optimal design of the reference adjustment to modify the real-time pricing mechanism is analytically derived. The effectiveness of our proposed mechanism is also illustrated through simulation with real demand data.

Original languageEnglish
Title of host publication2022 IEEE Conference on Control Technology and Applications, CCTA 2022
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages213-218
Number of pages6
ISBN (Electronic)9781665473385
DOIs
Publication statusPublished - 2022
Event2022 IEEE Conference on Control Technology and Applications, CCTA 2022 - Trieste, Italy
Duration: 2022 Aug 232022 Aug 25

Publication series

Name2022 IEEE Conference on Control Technology and Applications, CCTA 2022

Conference

Conference2022 IEEE Conference on Control Technology and Applications, CCTA 2022
Country/TerritoryItaly
CityTrieste
Period22/8/2322/8/25

ASJC Scopus subject areas

  • Computer Science Applications
  • Automotive Engineering
  • Control and Systems Engineering
  • Control and Optimization

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