Abstract
To address the problem of rich electric energy resale and complete the reallocation of power resources in the smart grid environment, an incentive mechanism is designed in this paper from the perspective of economics to encourage users with rich electricity to provide power resources for those facing power shortages. The double auction mechanism designed in this paper includes a power resource allocation method using the concept of padding and an effective pricing strategy to ensure the desired performance of power resource allocation in the smart grid environment. The mechanism takes into account the relationship between the transmission cost of power resources and the distance, and the supply-demand matching relationship is designed. Regarding the allocation method, the padding method based on linear programming is used to obtain the resource allocation results in polynomial time with a near-optimal approximation algorithm. In terms of pricing, critical-value-based and VCG-based pricing strategies are used respectively to calculate the payment price of the winning buyer user and the receiving price of the winning seller user, thus realizing the truthfulness, individual rationality, and budget balance in the double auction. The simulation results demonstrate that the auction mechanism designed in this paper ensures a series of desirable economic properties, including truthfulness, budget balance, and individual rationality. Furthermore, it can obtain the approximate optimal solution in polynomial time, thus offering an effective solution to the problem of power resource reallocation in the smart grid environment.
| Translated title of the contribution | Padding Method-Based Double Auction for Power Resource Reallocation in the Smart Grid |
|---|---|
| Original language | Chinese (Traditional) |
| Pages (from-to) | 138-147 |
| Number of pages | 10 |
| Journal | Hsi-An Chiao Tung Ta Hsueh/Journal of Xi'an Jiaotong University |
| Volume | 58 |
| Issue number | 4 |
| DOIs | |
| State | Published - Apr 2024 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
-
SDG 7 Affordable and Clean Energy
Fingerprint
Dive into the research topics of 'Padding Method-Based Double Auction for Power Resource Reallocation in the Smart Grid'. Together they form a unique fingerprint.Cite this
- APA
- Author
- BIBTEX
- Harvard
- Standard
- RIS
- Vancouver