Power System Analysis: Competitive Markets, Demand Management, and Security

Anibal Sanjab () and Walid Saad ()
Additional contact information
Anibal Sanjab: Virginia Tech
Walid Saad: Virginia Tech

Chapter 27 in Handbook of Dynamic Game Theory, 2018, pp 1185-1222 from Springer

Abstract: Abstract In recent years, the power system has undergone unprecedented changes that have led to the rise of an interactive modern electric system typically known as the smart grid. In this interactive power system, various participants such as generation owners, utility companies, and active customers can compete, cooperate, and exchange information on various levels. Thus, instead of being centrally operated as in traditional power systems, the restructured operation is expected to rely on distributed decisions taken autonomously by its various interacting constituents. Due to their heterogeneous nature, these constituents can possess different objectives which can be at times conflicting and at other times aligned. Consequently, such a distributed operation has introduced various technical challenges at different levels of the power system ranging from energy management to control and security. To meet these challenges, game theory provides a plethora of useful analytical tools for the modeling and analysis of complex distributed decision making in smart power systems. The goal of this chapter is to provide an overview of the application of game theory to various aspects of the power system including: i) strategic bidding in wholesale electric energy markets, ii) demand-side management mechanisms with special focus on demand response and energy management of electric vehicles, iii) energy exchange and coalition formation between microgrids, and iv) security of the power system as a cyber-physical system presenting a general cyber-physical security framework along with applications to the security of state estimation and automatic generation control. For each one of these applications, first an introduction to the key domain aspects and challenges is presented, followed by appropriate game-theoretic formulations as well as relevant solution concepts and main results.

Keywords: Smart grid; Electric energy markets; Demand-side management; Power system security; Energy management; Distributed power system operation; Dynamic game theory (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-44374-4_28

Ordering information: This item can be ordered from
http://www.springer.com/9783319443744

DOI: 10.1007/978-3-319-44374-4_28

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().