Revenue optimization in energy networks involving self-scheduled demand and a smart grid

•.A new bilevel model for a day-ahead energy pricing and load balancing problem.•A new reformulation of the mixed integer bilevel model as a single level one•Two new efficient heuristics to produce good solutions in moderate computation time In this paper, we address a day-ahead pricing and load bal...

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Bibliographic Details
Published in:Computers & operations research 2021-10, Vol.134, p.105366, Article 105366
Main Authors: Afşar, Sezin, Brotcorne, Luce, Marcotte, Patrice, Savard, Gilles
Format: Article
Language:English
Subjects:
Algorithms
Computer Science
Day ahead pricing
Demand response
Heuristic methods
Mixed integer
Mixed integer bilevel programming
Operations Research
Optimization
Smart grid
Utilities
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Summary:•.A new bilevel model for a day-ahead energy pricing and load balancing problem.•A new reformulation of the mixed integer bilevel model as a single level one•Two new efficient heuristics to produce good solutions in moderate computation time In this paper, we address a day-ahead pricing and load balancing problem, within an environment involving self-scheduled users whose utilities are optimized via a smart grid. The model is formulated as a mixed integer bilevel program for which we propose a single level reformulation. Next, we design two heuristic algorithms which, by relying on the structure of the problem, provide high quality solutions in moderate computation time.
ISSN:0305-0548
1873-765X
0305-0548
DOI:10.1016/j.cor.2021.105366