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Determining the optimal trading price of electricity for energy consumers and prosumers

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  • An, Jongbaek
  • Hong, Taehoon
  • Lee, Minhyun

Abstract

This study proposed an optimal trading price of electricity by considering electricity billing system and corresponding government policies in South Korea. To this end, this study calculated the maximum and minimum trading prices of electricity by defining the profit structure from the viewpoint of the energy consumer and prosumer, based on which the optimal trading price of electricity was derived from a genetic algorithm (GA) and Pareto optimal solution.

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  • An, Jongbaek & Hong, Taehoon & Lee, Minhyun, 2022. "Determining the optimal trading price of electricity for energy consumers and prosumers," Renewable and Sustainable Energy Reviews, Elsevier, vol. 154(C).
    • Handle: RePEc:eee:rensus:v:154:y:2022:i:c:s1364032121011187
    DOI: 10.1016/j.rser.2021.111851
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    Cited by:

    1. Zeng, Yu & Wei, Xuan & Yao, Yuan & Xu, Yinliang & Sun, Hongbin & Kin Victor Chan, Wai & Feng, Wei, 2023. "Determining the pricing and deployment strategy for virtual power plants of peer-to-peer prosumers: A game-theoretic approach," Applied Energy, Elsevier, vol. 345(C).

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