 A closed-loop energy price controlling method for real-time energy balancing in a smart grid energy marketB. Baykant Alagoz, Asim Kaygusuz, Murat Akcin and Serkan Alagoz Energy, 2013, vol. 59, issue C, 95-104 Abstract: Future smart grids will require a flexible, observable, and controllable network for reliable and efficient energy delivery under uncertain generation and demand conditions. One of the mechanisms for efficient and reliable energy generation is dynamic demand-responsive generation management based on energy price adjustments that creates a balance in energy markets. This study presents a closed-loop PID (proportional–integral–derivative) controller-based price control method for autonomous and real-time balancing of energy demand and generation in smart grid electricity markets. The PID control system can regulate energy prices online to respond dynamically and instantaneously to the varying energy demands of grid consumers. Independent energy suppliers in the smart grid decide whether to sell their energy to the grid according to the energy prices declared by the closed-loop PID controller system. Energy market simulations demonstrate that PID-controlled energy price regulation can effectively maintain an energy balance for hourly demand fluctuations of consumers. Keywords: Demand responsive generation; Closed-loop PID-based price control; Energy balance; Smart grid energy market management (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:59:y:2013:i:c:p:95-104 DOI: 10.1016/j.energy.2013.06.074 Access Statistics for this article Energy is currently edited by Henrik Lund and Mark J. Kaiser More articles in Energy from Elsevier |
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