TY - GEN
T1 - Cooperatives for demand side management
AU - Kota, Ramachandra
AU - Chalkiadakis, Georgios
AU - Robu, Valentin
AU - Rogers, Alex
AU - Jennings, Nicholas R.
PY - 2012
Y1 - 2012
N2 - We propose a new scheme for efficient demand side management for the Smart Grid. Specifically, we envisage and promote the formation of cooperatives of medium-large consumers and equip them (via our proposed mechanisms) with the capability of regularly participating in the existing electricity markets by providing electricity demand reduction services to the Grid. Based on mechanism design principles, we develop a model for such cooperatives by designing methods for estimating suitable reduction amounts, placing bids in the market and redistributing the obtained revenue amongst the member agents. Our mechanism is such that the member agents have no incentive to show artificial reductions with the aim of increasing their revenues.
AB - We propose a new scheme for efficient demand side management for the Smart Grid. Specifically, we envisage and promote the formation of cooperatives of medium-large consumers and equip them (via our proposed mechanisms) with the capability of regularly participating in the existing electricity markets by providing electricity demand reduction services to the Grid. Based on mechanism design principles, we develop a model for such cooperatives by designing methods for estimating suitable reduction amounts, placing bids in the market and redistributing the obtained revenue amongst the member agents. Our mechanism is such that the member agents have no incentive to show artificial reductions with the aim of increasing their revenues.
U2 - 10.3233/978-1-61499-098-7-969
DO - 10.3233/978-1-61499-098-7-969
M3 - Conference contribution
SN - 9781614990970
T3 - Frontiers in Artificial Intelligence and Applications
BT - 20th European Conference on Artificial Intelligence, ECAI 2012
PB - IOS Press
ER -
