Design of user-oriented market operations in a smart grid ecosystem

Abstract

Focusing on newly building smart grid power transaction system, we provide a novel market structure and operation processes. A recent development in the building smart grid system exhibits rapid growth of infrastructure with the potential to create extraordinary chance toward a huge value-added industry. Our objective is finding the effective market structure and operation processes on the power transaction. We suggest the market-based evaluation of the relative value of the power for each player in the power market, and develop a whole new power transaction framework. To prove the applicability of the proposed operation process and market structure, we design a mathematical evaluation method for electric power of each player. The developed mathematical evaluation shows the effectiveness and balance in the power transactions. Also, we illustrate a design of large-scale transaction test-bed system. By the designed test-bed, we can easily test the various transaction scenarios in smart grid.