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Incentive Mechanism Design for Electricity Data Trading With Data Valuation-Aware Contract
Ma, Liya; Hui, Hongxun; Song, Yonghua
2024-10
Conference Name2024 IEEE Power & Energy Society General Meeting (PESGM)
Source PublicationIEEE Power and Energy Society General Meeting
Conference Date21-25 July 2024
Conference PlaceSeattle, WA, USA
CountryUSA
PublisherIEEE Computer Society
Abstract

With more generation fluctuations from the high penetration of renewable energies, dispatching large-scale demand-side resources becomes crucial in maintaining the power system balance between supply-side and demand-side. It puts forth significantly greater data requirements compared with traditional power systems, e.g. explosive data volume and highly frequent data collection between the data aggregators (DAs) and the data service operator (DTSO). Preferred by the DTSO, higher-value data with better data quality and timeliness will bring more benefits to the real-time dispatching of the demand-side resources than lower-value data. Thus, the data should be collected, transmitted, and traded in accordance with their varying values across different DAs. To resolve this issue, this paper proposes an incentive mechanism for electricity data trading between DAs and the DTSO, incorporating a data valuation-aware contract. First, we develop a data valuation model considering the data quality and timeliness. Then, taking into account the diverse value of data across DAs, we design a trading volume-reward bundled contract for DAs. The DTSO provides DAs with varying rewards to obtain higher-value data. Finally, the effectiveness of the proposed mechanism is validated using realistic data.

KeywordData Trading Data Valuation Incentive Mechanism Trading Volume-reward Bundled Contract Data Privacy Renewable Energy Sources Electricity Data Integrity Dispatching Data Models Real-time Systems Power Systems Contracts Cost Accounting
DOI10.1109/PESGM51994.2024.10689218
URLView the original
Language英語English
Scopus ID2-s2.0-85207445807
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Document TypeConference paper
CollectionFaculty of Science and Technology
THE STATE KEY LABORATORY OF INTERNET OF THINGS FOR SMART CITY (UNIVERSITY OF MACAU)
DEPARTMENT OF ELECTRICAL AND COMPUTER ENGINEERING
Corresponding AuthorHui, Hongxun
AffiliationUniversity of Macau, State Key Laboratory of Internet of Things for Smart City, Department of Electrical and Computer Engineering, Macau, Macao
First Author AffilicationUniversity of Macau
Corresponding Author AffilicationUniversity of Macau
Recommended Citation
GB/T 7714
Ma, Liya,Hui, Hongxun,Song, Yonghua. Incentive Mechanism Design for Electricity Data Trading With Data Valuation-Aware Contract[C]:IEEE Computer Society, 2024.
APA Ma, Liya., Hui, Hongxun., & Song, Yonghua (2024). Incentive Mechanism Design for Electricity Data Trading With Data Valuation-Aware Contract. IEEE Power and Energy Society General Meeting.
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