A Hybrid Real-Time Electricity Pricing Strategy with Carbon Capture, Storage and Trading

Abstract

During the power system low carbonization process, various policies and technologies for low-carbon have been rapidly developed. Real-time demand side management by energy suppliers based on real-time pricing (RTP) has become a reality via smart meter technology. Motivated by this, an RTP mechanism is used to guide users’ demand response, and the carbon trading regulation (CTR) and carbon capture, storage (CCS) technology are used on the supply side. Through these means, we can reduce carbon emissions from the power system and achieve the goal of carbon neutrality. Furthermore, a game model is used to construct the relationship between the energy supplier and users. Since the energy supplier acts first and then the user make their decision, the leader is the energy supplier and the followers are users. Further, to protect the information privacy of them and independently solve the goals of them, a distributed solution approach combining a differential evolutionary (DE) algorithm and Gurobi solver is developed for finding the equilibrium solution. The proposed model’s economic and environmental benefits are verified and the effectiveness of CCS technology and CTR is accessed via the numerical analysis, what means the proposed strategy can serve as a guide for the system’s low-carbon management.