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    Real-time price savings through price suggestions for the smart grid demand response model

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    Authors
    Mahmud, ASM Ashraf
    Sant, Paul
    Affiliation
    University of Bedfordshire
    Issue Date
    2017-06-15
    Subjects
    price suggestion unit
    real-time
    demand response
    smart grid
    stochastic process
    
    Metadata
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    Abstract
    The smart grid is the solution for the outdated current state of the power grid. An Energy Provider (EP) and Energy User (EU) are both looking to achieve savings. A Real-Time (RT) Demand Response (DR) pricing mechanism can reduce an EUs' bill and at the same time reduce the overall peak demand and Peak to Average Ratio (PAR) so that EP save their cost. In this paper, we will provide a model that uses a Price Suggestion Unit (pSU) and Price Control Unit (PCU) that provides Real-Time Price suggestions in the SG; we tested the model with a simultaneous perturbation stochastic approximation (SPSA) algorithm considering the threshold energy consumption with real data by using a stochastic iterative process. The EU has a choice to respond to the price suggestion. However, if they are non-responsive still they can still save on their bill in terms of taking advantage of the overall responses of other EUs.
    Citation
    Mahmud A, Sant P (2017) 'Real-time price savings through price suggestions for the smart grid demand response model', 2017 5th International Istanbul Smart Grid and Cities Congress and Fair (ICSG) - Istanbul, Institute of Electrical and Electronics Engineers Inc..
    Publisher
    Institute of Electrical and Electronics Engineers Inc.
    URI
    http://hdl.handle.net/10547/623889
    DOI
    10.1109/SGCF.2017.7947603
    Additional Links
    https://ieeexplore.ieee.org/document/7947603
    Type
    Conference papers, meetings and proceedings
    Language
    en
    ISBN
    9781509059386
    ae974a485f413a2113503eed53cd6c53
    10.1109/SGCF.2017.7947603
    Scopus Count
    Collections
    Computing

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