A novel pricing scheme for the future smart grid: a preliminary study

• Main Author: Huang, Yi
• Other Authors: Xiao Gaoxi
• Format: Final Year Project
• Language: English
• Published: 2014
• Subjects: DRNTU::Engineering::Electrical and electronic engineering
• Online Access: http://hdl.handle.net/10356/61480
• Institution: Nanyang Technological University

Energy is the important material basis, on which the human depends for survival and development, but the energy will be exhausted gradually and the environment has been worsened increasingly with the progress and development of human society. Smart Grid becomes the present trend of the power grids all over the world. It will supply more reliability, efficiency, flexibility, quality and security of service than the current grids. This paper gives an introduction of the emerging power grid and the function of Smart Grid as well as smart meter. Then a new pricing scheme in Smart Grid system is proposed. Using mathematical model and simulations of MATLAB, behaviors of customers in this new pricing system have been analyzed to conclude some significant results.