Residential College | false |
Status | 已發表Published |
Posted-Price Retailing of Transactive Energy: An Optimal Online Mechanism without Prediction | |
Tan Xiaoqi1; Leon-Garcia Alberto1; Wu Yuan2; Tsang Danny H.K.3 | |
2020-01 | |
Source Publication | IEEE Journal on Selected Areas in Communications |
ISSN | 0733-8716 |
Volume | 38Issue:1Pages:5-16 |
Abstract | In this paper, we study a general transactive energy (TE) retailing problem in smart grids: a TE retailer (e.g., a utility company) publishes the energy price, which may vary over time. TE customers arrive in an arbitrary manner and may choose to either purchase a certain amount of energy based on the posted price, or leave without buying. Typical examples of such a setup include a transactive electric vehicle charging platform, or a general market-based demand-side management program, etc. We consider the setting where the customer arrival information is unknown (i.e., without prediction), and focus on maximizing the social welfare of the TE system through a posted-price mechanism (PPM) that runs in an online fashion with causal information only. We quantify the performance of the proposed PPM in the competitive analysis framework, and show that our proposed PPM is optimal in the sense that no other online mechanisms can achieve a better competitive ratio. We evaluate our theoretic results for the case of transactive electric vehicle charging. Our extensive experimental results show that the proposed PPM is competitive and robust against system uncertainties, and outperforms several existing benchmarks. |
Keyword | Competitive Analysis Mechanism Design Pricing Smart Grid Transactive Energy |
DOI | 10.1109/JSAC.2019.2951930 |
URL | View the original |
Indexed By | SCIE |
Language | 英語English |
WOS Research Area | Engineering ; Telecommunications |
WOS Subject | Engineering, Electrical & Electronic ; Telecommunications |
WOS ID | WOS:000510714300002 |
Publisher | IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC, 445 HOES LANE, PISCATAWAY, NJ 08855-4141 USA |
Scopus ID | 2-s2.0-85074846121 |
Fulltext Access | |
Citation statistics | |
Document Type | Journal article |
Collection | University of Macau |
Corresponding Author | Tan Xiaoqi |
Affiliation | 1.Edward S. Rogers Sr. Department of Electrical and Computer Engineering,University of Toronto,Toronto,M5S 1A1,Canada 2.State Key Lab of Internet of Things for Smart City,University of Macau,Macao 3.Department of Electronic and Computer Engineering,Hong Kong University of Science and Technology,Hong Kong,Hong Kong |
Recommended Citation GB/T 7714 | Tan Xiaoqi,Leon-Garcia Alberto,Wu Yuan,et al. Posted-Price Retailing of Transactive Energy: An Optimal Online Mechanism without Prediction[J]. IEEE Journal on Selected Areas in Communications, 2020, 38(1), 5-16. |
APA | Tan Xiaoqi., Leon-Garcia Alberto., Wu Yuan., & Tsang Danny H.K. (2020). Posted-Price Retailing of Transactive Energy: An Optimal Online Mechanism without Prediction. IEEE Journal on Selected Areas in Communications, 38(1), 5-16. |
MLA | Tan Xiaoqi,et al."Posted-Price Retailing of Transactive Energy: An Optimal Online Mechanism without Prediction".IEEE Journal on Selected Areas in Communications 38.1(2020):5-16. |
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