An upsurge in the electricity demand seems inevitable due to the large-scale deployment of electric vehicles (EVs). Demand response, which is a potential avenue to curb this demand, aims at reduction of power generation costs and electricity bills by allowing control of electricity consumption through electricity prices. This study proposes a holistic approach to combining the behaviour of EV users and customers with other elastic loads participating in demand response to make the scenario more realistic. In this study, various cases with single and multiple utility companies (UCs), which try to set the prices in such a way so as to maximise their profits, have been considered. A Stackelberg game model has been designed to address this conflict of interests between the UCs and the customers. This study considers different utility functions for different types of customers in order to meet their energy requirements meanwhile maximising the profits of the UCs at the Stackelberg equilibrium. The impact of the increase in competition is also studied.
Stackelberg game-based demand response in multiple utility environments for electric vehicle charging
IET Electrical Systems in Transportation ; 8 , 3 ; 167-174
2018-02-26
8 pages
Article (Journal)
Electronic Resource
English
power generation economics , electricity bills , game theory , large-scale EV deployment , profit maximisation , utility functions , electricity prices , electric vehicle charging , electricity consumption , electricity demand , multiple-utility environments , elastic loads , pricing , Stackelberg equilibrium , Stackelberg game-based demand response , Stackelberg game model , EV users , multiple-utility companies , demand side management , power generation costs
Metadata by IET is licensed under CC BY 3.0
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