Presentation 2013-07-04
Smart Pricing Scheme Facilitating Scoring Rule based Incentive Payment
Shantanu CHAKRABORTY, Takayuki ITO,
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Abstract(in English) Defining appropriate pricing strategy for smart environment is important and complex at the same time. In our work, we device an incentive based smart dynamic pricing scheme for consumers facilitating a hierarchical scoring mechanism. This mechanism is applied between consumer agents (CA) to electricity provider agent (EP) and EP to Generation Company (GENCO). Based on the Continuous Ranked Probability Score (CRPS), a hierarchical scoring system is formed among these entities, CA-EP-GENCO. As CA receives the dynamic day-ahead pricing signal from EP, it will schedule the household devices to lower price period and report the prediction in a form of a probability distribution function to EP. EP, in similar way reports the aggregated demand prediction to GENCO. Finally, GENCO computes the base discount after running a cost-optimization problem. GENCO will reward EP with a fraction of discount based on their prediction accuracy. EP will do the same to CA based on how truthful they were reporting their intentions on device scheduling. The method is tested on real data provided by Ontario Power Company and we show that this scheme is capable to reduce energy consumption and consumers' payment.
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Keyword(in English) Smart Grid / Demand Response / Incentive Design / Scoring Rule / Energy Management
Paper # AI2013-5
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Conference Information
Committee AI
Conference Date 2013/6/27(1days)
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Registration To Artificial Intelligence and Knowledge-Based Processing (AI)
Language ENG
Title (in Japanese) (See Japanese page)
Sub Title (in Japanese) (See Japanese page)
Title (in English) Smart Pricing Scheme Facilitating Scoring Rule based Incentive Payment
Sub Title (in English)
Keyword(1) Smart Grid
Keyword(2) Demand Response
Keyword(3) Incentive Design
Keyword(4) Scoring Rule
Keyword(5) Energy Management
1st Author's Name Shantanu CHAKRABORTY
1st Author's Affiliation Nagoya Insitute of Technology()
2nd Author's Name Takayuki ITO
2nd Author's Affiliation Nagoya Insitute of Technology
Date 2013-07-04
Paper # AI2013-5
Volume (vol) vol.113
Number (no) 113
Page pp.pp.-
#Pages 6
Date of Issue