Back to Search
Start Over
Stackelberg–Nash game approach for price-based demand response in retail electricity trading.
- Source :
-
International Journal of Electrical Power & Energy Systems . Jan2024:Part B, Vol. 155, pN.PAG-N.PAG. 1p. - Publication Year :
- 2024
-
Abstract
- This paper studies the price-based demand response problem in a deregulated retail electricity trading, aiming to coordinate the energy consumption behavior of end-users under dynamic retail prices. The challenge here is that in addition to the hierarchical decision-making process between utility company and end-users considered in existing works, the non-cooperative and competitive interdependence among end-users cannot be ignored. To address this issue, we first construct a novel Stackelberg–Nash game, in which the Stackelberg game is used to capture the hierarchical decision-making process between utility company and end-users, while the Nash game is dedicated to describing the interdependence among end-users. Then the existence and uniqueness of the Stackelberg–Nash equilibrium is provided along with theoretical analysis. On the basis of the analysis of equilibrium, we propose a distributed iterative algorithm with an adaptive step size, which is benchmarked with a fixed step-size algorithm. The comparison results on a real-life residential retail electricity market show that our proposed algorithm has better performance in terms of effectiveness and scalability. • Develop a Stackelberg—Nash game model to characterize the interactive relationship. • Proof the existence and uniqueness of Stackelberg–Nash equilibrium. • Propose a distributed iterative algorithm with an adaptive step size. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 01420615
- Volume :
- 155
- Database :
- Academic Search Index
- Journal :
- International Journal of Electrical Power & Energy Systems
- Publication Type :
- Academic Journal
- Accession number :
- 174339563
- Full Text :
- https://doi.org/10.1016/j.ijepes.2023.109577