Group:Network Science Group
Title: Optimal Residential Load Control with Price Prediction in Real-Time Electricity
Speaker: Chen Zhang University
Time: 2012-04-06 12:00-2012-04-06 13:30
Venue: FIT 1-222

Abstract:
 Chen Zhang will introduce a paper by Amir-Hamed Mohsenian-Rad, on IEEE Trans. on Smart Grid 2010, "Optimal Residential Load Control with Price Prediction in Real-Time Electricity Pricing Environments".

 The abstract of the paper is as following:

 Real-time electricity pricing models can potentially lead to economic and environmental advantages compared to the current common at rates. In particular, they can provide end users with the opportunity to reduce their electricity expenditures by responding to pricing that varies with different times of the day. However, recent studies have revealed that the lack of knowledge among users about how to respond to time- varying prices as well as the lack of effective building automation systems are two major barriers for fully utilizing the potential benets of real-time pricing tariffs. We tackle these problems by proposing an optimal and automatic residential energy con- sumption scheduling framework which attempts to achieve a desired trade-off between minimizing the electricity payment and minimizing the waiting time for the operation of each appliance in household in presence of a real-time pricing tariff combined with inclining block rates. Our design requires minimum effort from the users and is based on simple linear programming computations. Moreover, we argue that any residential load control strategy in real-time electricity pricing environments requires price prediction capabilities. This is particularly true if the utility companies provide price information only one or two hours ahead of time. 



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