Use of prediction based meter reputation factors in power systems

Abstract

Reputation systems provide a protocol for participants to interact based on their past performance. The concept of a prediction based meter reputation factor is introduced as a number between 0.1 and 1 that is assigned to every meter and that varies based on the accuracy of a meter's predictions. A system architecture is presented that allows the instantiation of rules for economic interaction between metered participants in a power system using reputation factors. This will create a system in which individuals are incentivised to provide accurate predictions, giving planners more reliable information. It also provides a basis for the allocation of rewards for flexibility and penalties for inflexibility. Two algorithms to allocate meter reputation factors are presented and assessed using a defined performance index and metering information from the OpenLV project. It is demonstrated that the performance of the meter reputation algorithms can be moderated according to system requirements. It is concluded that instantiation of the algorithms in such a way that makes persecution of individuals impossible is crucial.