Modeling economic interactions between microgrids and electric utilities: A regulator's perspective

Chiara Lo Prete, Benjamin F. Hobbs

Research output: Chapter in Book/Report/Conference proceedingConference contribution

4 Citations (Scopus)

Abstract

This paper considers the potential development of a microgrid in a market served by a vertically integrated electric utility, regulated based on cost of service. The interaction among the utility, the microgrid developer and consumers potentially representing the microgrid's load is assessed in the framework of cooperative game theory, assuming exchangeable utility. We present scenarios based on different underlying assumptions, showing when microgrid development might be beneficial and how it would affect market prices, costs and benefits to the various parties in the network. We also discuss possible regulatory tools that could be used to align private objectives with social welfare maximization.

Original languageEnglish (US)
Title of host publication2013 IEEE International Conference on Smart Grid Communications, SmartGridComm 2013
Pages522-527
Number of pages6
DOIs
StatePublished - Dec 1 2013
Event2013 IEEE International Conference on Smart Grid Communications, SmartGridComm 2013 - Vancouver, BC, Canada
Duration: Oct 21 2013Oct 24 2013

Publication series

Name2013 IEEE International Conference on Smart Grid Communications, SmartGridComm 2013

Other

Other2013 IEEE International Conference on Smart Grid Communications, SmartGridComm 2013
CountryCanada
CityVancouver, BC
Period10/21/1310/24/13

Fingerprint

Electric utilities
Economics
Game theory
Costs

All Science Journal Classification (ASJC) codes

  • Hardware and Architecture

Cite this

Lo Prete, C., & Hobbs, B. F. (2013). Modeling economic interactions between microgrids and electric utilities: A regulator's perspective. In 2013 IEEE International Conference on Smart Grid Communications, SmartGridComm 2013 (pp. 522-527). [6688011] (2013 IEEE International Conference on Smart Grid Communications, SmartGridComm 2013). https://doi.org/10.1109/SmartGridComm.2013.6688011
Lo Prete, Chiara ; Hobbs, Benjamin F. / Modeling economic interactions between microgrids and electric utilities : A regulator's perspective. 2013 IEEE International Conference on Smart Grid Communications, SmartGridComm 2013. 2013. pp. 522-527 (2013 IEEE International Conference on Smart Grid Communications, SmartGridComm 2013).
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Lo Prete, C & Hobbs, BF 2013, Modeling economic interactions between microgrids and electric utilities: A regulator's perspective. in 2013 IEEE International Conference on Smart Grid Communications, SmartGridComm 2013., 6688011, 2013 IEEE International Conference on Smart Grid Communications, SmartGridComm 2013, pp. 522-527, 2013 IEEE International Conference on Smart Grid Communications, SmartGridComm 2013, Vancouver, BC, Canada, 10/21/13. https://doi.org/10.1109/SmartGridComm.2013.6688011

Modeling economic interactions between microgrids and electric utilities : A regulator's perspective. / Lo Prete, Chiara; Hobbs, Benjamin F.

2013 IEEE International Conference on Smart Grid Communications, SmartGridComm 2013. 2013. p. 522-527 6688011 (2013 IEEE International Conference on Smart Grid Communications, SmartGridComm 2013).

Research output: Chapter in Book/Report/Conference proceedingConference contribution

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Lo Prete C, Hobbs BF. Modeling economic interactions between microgrids and electric utilities: A regulator's perspective. In 2013 IEEE International Conference on Smart Grid Communications, SmartGridComm 2013. 2013. p. 522-527. 6688011. (2013 IEEE International Conference on Smart Grid Communications, SmartGridComm 2013). https://doi.org/10.1109/SmartGridComm.2013.6688011