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Conference Paper: An online procurement auction for power demand response in storage-assisted smart grids

TitleAn online procurement auction for power demand response in storage-assisted smart grids
Authors
Issue Date2015
PublisherIEEE. The Journal's web site is located at http://ieeexplore.ieee.org/xpl/conhome.jsp?punumber=1001779
Citation
The 2015 IEEE Conference on Computer Communications Workshops (INFOCOM Wksps), Hong Kong, 26 April-1 May 2015. In Conference Proceedings, 2015, p. 1-9 How to Cite?
AbstractThe quintessential problem in a smart grid is the matching between power supply and demand - a perfect balance across the temporal domain, for the stable operation of the power network. Recent studies have revealed the critical role of electricity storage devices, as exemplified by rechargeable batteries and plug-in electric vehicles (PEVs), in helping achieve the balance through power arbitrage. Such potential from batteries and PEVs can not be fully realized without an appropriate economic mechanism that incentivizes energy discharging at times when supply is tight. This work aims at a systematic study of such demand response problem in storage-assisted smart grids through a well-designed online procurement auction mechanism. The long-term social welfare maximization problem is naturally formulated into a linear integer program. We first apply a primal-dual optimization algorithm to decompose the online auction design problem into a series of one-round auction design problems, achieving a small loss in competitive ratio. For the one round auction, we show that social welfare maximization is still NP-hard, and design a primal-dual approximation algorithm that works in concert with the decomposition algorithm. The end result is a truthful power procurement auction that is online, truthful, and 2-competitive in typical scenarios.
Persistent Identifierhttp://hdl.handle.net/10722/213550

 

DC FieldValueLanguage
dc.contributor.authorZhou, R-
dc.contributor.authorLi, Z-
dc.contributor.authorWu, C-
dc.date.accessioned2015-08-05T04:45:06Z-
dc.date.available2015-08-05T04:45:06Z-
dc.date.issued2015-
dc.identifier.citationThe 2015 IEEE Conference on Computer Communications Workshops (INFOCOM Wksps), Hong Kong, 26 April-1 May 2015. In Conference Proceedings, 2015, p. 1-9-
dc.identifier.urihttp://hdl.handle.net/10722/213550-
dc.description.abstractThe quintessential problem in a smart grid is the matching between power supply and demand - a perfect balance across the temporal domain, for the stable operation of the power network. Recent studies have revealed the critical role of electricity storage devices, as exemplified by rechargeable batteries and plug-in electric vehicles (PEVs), in helping achieve the balance through power arbitrage. Such potential from batteries and PEVs can not be fully realized without an appropriate economic mechanism that incentivizes energy discharging at times when supply is tight. This work aims at a systematic study of such demand response problem in storage-assisted smart grids through a well-designed online procurement auction mechanism. The long-term social welfare maximization problem is naturally formulated into a linear integer program. We first apply a primal-dual optimization algorithm to decompose the online auction design problem into a series of one-round auction design problems, achieving a small loss in competitive ratio. For the one round auction, we show that social welfare maximization is still NP-hard, and design a primal-dual approximation algorithm that works in concert with the decomposition algorithm. The end result is a truthful power procurement auction that is online, truthful, and 2-competitive in typical scenarios.-
dc.languageeng-
dc.publisherIEEE. The Journal's web site is located at http://ieeexplore.ieee.org/xpl/conhome.jsp?punumber=1001779-
dc.relation.ispartofIEEE Conference on Computer Communications Workshops, INFOCOM WKSHPS-
dc.rightsIEEE Conference on Computer Communications Workshops, INFOCOM WKSHPS. Copyright © IEEE.-
dc.rights©2015 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.-
dc.rightsCreative Commons: Attribution 3.0 Hong Kong License-
dc.titleAn online procurement auction for power demand response in storage-assisted smart grids-
dc.typeConference_Paper-
dc.identifier.emailWu, C: cwu@cs.hku.hk-
dc.identifier.authorityWu, C=rp01397-
dc.description.naturepublished_or_final_version-
dc.identifier.hkuros246576-
dc.identifier.spage1-
dc.identifier.epage9-
dc.publisher.placeUnited States-
dc.customcontrol.immutablesml 150805-

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