NDLI: Integrated pricing framework for optimal power and semi-dynamic traffic flow problem

Content Provider	IET Digital Library
Author	Zhou, Zhe Zhang, Xuan Guo, Qinglai Sun, Hongbin
Abstract	Large-scale fast charging of electric vehicles inextricably entwines the operation of power and transportation systems. This study examines the integrated pricing of electricity and roads to maximise the social welfare associated with the coupled systems, i.e. minimising the total travel time and energy generation costs. While electric demand and transportation network conditions vary significantly over the day, most of the work, however, considers only static network flows for a single time period. This study proposes a multi-period integrated pricing model that can describe the variations of electricity and travel demands. Specifically, the distribution of traffic flows is characterised by a semi-dynamic traffic assignment model to consider flow propagation between adjacent time periods. To determine the optimal prices of electricity and road tolls, a marginal-cost pricing scheme based on the first-best tolls and locational marginal prices is developed. Mathematically, the multi-period pricing model is formulated as a convex optimisation problem. Moreover, a decentralised collaborative pricing framework is developed for independent power and transportation system operators to attain the optimal pricing strategies. Numerical experiments are conducted to demonstrate the effectiveness of the pricing method.
Starting Page	3636
Ending Page	3643
Page Count	8
ISSN	17521416
Volume Number	14
e-ISSN	17521424
Issue Number	Issue 18, Dec (2020)
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/10.1049/iet-rpg.2020.0150
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/iet-rpg/14/18
Journal	IET Renewable Power Generation
Publisher Date	2020-12-18
Access Restriction	Open
Rights Holder	© The Institution of Engineering and Technology
Subject Keyword	Adjacent Time Periods Automobile Electronics Automotive Transportation (energy Utilisation) Convex Optimisation Problem Coupled System Decentralised Collaborative Pricing Framework Electric Demand Electric Vehicle Electric Vehicle Charging Electricity Demands Energy Generation Cost Flow Propagation Independent Power System Operators Integrated Pricing Framework Large-scale Fast Charging Load Forecasting Locational Marginal Prices Marginal-cost Pricing Scheme Multiperiod Integrated Pricing Model Multiperiod Pricing Model Optimal Power Optimal Pricing Strategy Optimisation Optimisation Technique Power System Economics Power System Managemen Power System Operation Power System Planning And Layout Road Tolls Road Traffic Control Road Traffic System Control Semidynamic Traffic Assignment Model Semidynamic Traffic Flow Problem Single Time Period Social Welfare Static Network Flows Total Travel Time Transportation Network Condition Transportation System Operators Travel Demands
Content Type	Text
Resource Type	Article
Subject	Renewable Energy, Sustainability and the Environment

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