Real-Time Pricing for Demand Response Based on Stochastic Approximation

  title={Real-Time Pricing for Demand Response Based on Stochastic Approximation},
  author={Pedram Samadi and Hamed Mohsenian Rad and Vincent W. S. Wong and Robert Schober},
  journal={IEEE Transactions on Smart Grid},
In this paper, we propose a new pricing algorithm to minimize the peak-to-average ratio (PAR) in aggregate load demand. The key challenge that we seek to address is the energy provider's uncertainty about the impact of prices on users' load profiles, in particular when users are equipped with automated energy consumption scheduling (ECS) devices. We use an iterative stochastic approximation approach to design two real-time pricing algorithms based on finite-difference and simultaneous… CONTINUE READING
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