Optimal energy providing strategy of micro-grid's operator based on a game theoretical approach
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Accepted Version
Date
2018-06
Authors
Khojasteh, Meysam
Marzband, Mousa
Lightbody, Gordon
Dehghan, Shahab
Journal Title
Journal ISSN
Volume Title
Publisher
Institute of Electrical and Electronics Engineers (IEEE)
Published Version
Abstract
Operators of micro-grid as privately-owned sectors try to optimally determine their energy supply strategy aiming at maximizing their profits. Smart grid infrastructures enable residential consumers to modify their electricity consumption in response to energy prices. Clearly, increasing energy tariffs have positive impacts on the operator's profit. Additionally, sensitivity of consumption to selling prices leads to demand reduction by increasing energy tariffs. Therefore, operators of micro-grids retain a tradeoff between energy tariffs and demand. This paper presents a game theoretical approach for operators of micro-grids to supply the required energy of price-sensitive clients. Additionally, the information-gap decision theory (IGDT) is used to handle the financial risk arising from the uncertain wholesale prices. Simulation results justify the performance of the proposed approach.
Description
Keywords
Uncertainty , Forward contracts , Robustness , Sensitivity , Procurement , Electronic mail
Citation
Dehghan, S., Khojasteh, M., Marzband, M. and Lightbody, G. (2018) 'Optimal energy providing strategy of micro-grid's operator based on a game theoretical approach', 5th International Conference on Control, Decision and Information Technologies (CoDIT), Thessaloniki, Greece, 10-13 April. doi:10.1109/CoDIT.2018.8394804
Copyright
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