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Soft Computing

, Volume 23, Issue 4, pp 1393–1405 | Cite as

A genetic algorithm approach to the smart grid tariff design problem

  • Will Rogers
  • Paula CarrollEmail author
  • James McDermott
Methodologies and Application
  • 134 Downloads

Abstract

Smart metering in electricity markets offers an opportunity to explore more diverse tariff structures. In this article residential electricity demand and the System Marginal Price of Ireland’s Single Electricity Market are simulated to estimate the wholesale risk associated with possible tariffs. A genetic algorithm (GA) with a stochastic fitness function is proposed to search for time-of-use tariffs that minimise wholesale risk to the supplier in residential markets. Alternative search algorithms and fitness functions are investigated in detail, as well as trade-offs in GA and simulation parameter settings.

Keywords

Smart grid tariff design Genetic algorithm Stochastic fitness function 

Notes

Compliance with ethical standards

Conflict of interest

Will Rogers worked for Bord Gáis (an Irish electricity supply company) and declares that he has no conflict of interest. Paula Carroll and James McDermott declare that they have no conflict of interest.

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Copyright information

© Springer-Verlag GmbH Germany, part of Springer Nature 2017

Authors and Affiliations

  1. 1.School of BusinessUniversity College DublinDublinIreland

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