In this chapter, an interactive decision-making process between electricity producers is formulated. The interaction is through the market price, the demand (of consumers and prosumers), and the supply (of producers and prosumers). The price dynamics is described by a linear jump-diffusion system of conditional mean-field type where the conditioning is with respect to a common noise representing a global market uncertainty.

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Electricity Price Dynamics in the Smart Grid

  • Tamer Başar,
  • Boualem Djehiche,
  • Hamidou Tembine

摘要

In this chapter, an interactive decision-making process between electricity producers is formulated. The interaction is through the market price, the demand (of consumers and prosumers), and the supply (of producers and prosumers). The price dynamics is described by a linear jump-diffusion system of conditional mean-field type where the conditioning is with respect to a common noise representing a global market uncertainty.