Residential Electricity Pricing Based on Multi-Agent Simulation

Kaile Zhou (zhoukaile@hfut.edu.cn) and Lulu Wen (wenlulu1002@163.com)
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Kaile Zhou: Hefei University of Technology
Lulu Wen: Hefei University of Technology

Chapter Chapter 8 in Smart Energy Management, 2022, pp 183-202 from Springer

Abstract: Abstract The multi-agent system (MAS) can simulate the operating mechanism of electric power system; thus, it plays an important role in solving Demand Response (DR) problems. This chapter presents a multi-agent model of a residential power market based on a multi-agent simulation as well as the satisfaction function of residential users on electricity cost. It investigates the interaction process among all agents in the power supply, selling, and demand sides. It discusses the simulation that performed to obtain the selection and decision-making processes of residential users on the electricity pricing schemes. The results show that MAS is effective in analyzing, simulating, and solving the DR problems in the power market. In addition, the satisfaction function of residential users on the electricity price can support power-selling enterprises to better understand residential users in selecting the electricity-cost schemes and participation in the DR program.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-9360-1_8

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DOI: 10.1007/978-981-16-9360-1_8

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