Formal Market Models for Smart Power Grids

A Smart Grid is an electricity network that can intelligently integrate the actions of all users, generators and consumers, in order to efficiently deliver sustainable, economic and secure electricity supplies. The efficiency of a smart power grid is evaluated according to the ability of end-users to either decrease or increase their consumption rate based on the power market condition. The main issue in this talk is to present new solution which helps end-users to optimize their consumption load, and better manage their proper electricity costs. The focus is to change the consumption rate of end-users by taking into account the different costs of the electricity in various time of a day. We propose a solution that in the long run, minimize the energy cost of end-users. We implemented a software agent which dynamically interacts with the power grid and applies our approach. For test-bed, we have chosen the distributed power market model DEZENT which is the result of a joint research and development project between the Technical University of Dortmund, the E.ON Energy and the German Research Foundation. Finally, we formalize the operation of our introduced software agent.