A Stackelberg-Cournot model to harmonize participants' interests in a smart grid
- Authors
- Seok, Hyesung; Kim, Sang-Phil
- Issue Date
- Jan-2024
- Publisher
- Elsevier Ltd
- Keywords
- Cost-effectiveness; Demand management; Distributed decision making; Fairness; Nash Equilibrium
- Citation
- Computers and Industrial Engineering, v.187
- Journal Title
- Computers and Industrial Engineering
- Volume
- 187
- URI
- https://scholarworks.bwise.kr/hongik/handle/2020.sw.hongik/32417
- DOI
- 10.1016/j.cie.2023.109772
- ISSN
- 0360-8352
1879-0550
- Abstract
- A “smart grid” refers to an advanced and modernized electrical grid system that incorporates various digital technologies, communication networks, and automation. In a smart grid, each subscriber's energy consumption is monitored and updated by their smart meter, and cost-effective energy consumption scheduling is determined by two-way communication with other participants. In general, the interests among participants are naturally conflicted, and therefore the game-theoretic approach is frequently used to solve the problem. However, most previous studies focused on the game between a service provider and subscribers or game among service providers or subscribers. In this study, we propose an extended model consisting of two sub-games: 1) the Stackelberg game between a service provider (a leader) and subscribers (followers), and 2) the Cournot game among subscribers. Our model conducts an innovative energy consumption scheduling (ECS), especially harmonizing all participants’ aspects. It draws a unique Nash Equilibrium and achieves a more balanced and cost-effective demand management in the smart grid. Compared to the non-scheduling, our model reduces the subscriber's cost and its standard deviation, on average, 20.5 % and 12.7 %, respectively. Also, the peak-to-average ratio (PAR) of energy consumption, the ratio between the highest energy consumption and the average energy consumption within a certain time frame, is decreased, on average, 24.3 %. © 2023 Elsevier Ltd
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