Data-Driven Consumption Load Monitoring and Adjustment Strategy in Smart Grid

Abstract

The enhancement of the intelligent construction of the power grid and widespread popularity of smart meters enable large amounts of electrical energy consumption data to be collected and analyzed. Based on the data, the energy provider gives a guiding price in the future periods to users. It encourages users to be more economical and smarter in the process of using electricity. By applying the social welfare model to equate demand and supply in every time interval, we gain the optimal prices and generation capacity. Nevertheless, the truth is that there is a great gap between the consumers’ booked electrical energy consumption and the optimal generation capacity, causing the power system overload and even outage. This article puts forward a novel automatic process control strategy in order to monitor the gap between the consumers’ booked electrical energy consumption and optimal generation capacity by using statistical method to predict the future one. When the predicted value exceeds the boundary, the energy provider adopts the changeable electricity price to stimulate consumers to adjust their electrical energy demands so that it can have smoothly actual electrical energy consumption. Our adjustment method is data-driven exponential function-based adjustment. Case study results show that the strategy can obtain small adjustment times, stable actual consumption load, and controllable prediction errors. Different from the linear monitoring and adjustment strategy, our approach obtains almost the same adjustment frequency, less standard deviation of residuals, and higher total social welfare and energy provider profit.