• Journal of Terahertz Science and Electronic Information Technology
  • Vol. 21, Issue 1, 112 (2023)
CAO Jun*, SUN Yingying, and ZHAO Hang
Author Affiliations
  • [in Chinese]
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    DOI: 10.11805/tkyda2020178 Cite this Article
    CAO Jun, SUN Yingying, ZHAO Hang. Reinforcement Learning-based Optimizing Dynamic Pricing algorithm in smart grid[J]. Journal of Terahertz Science and Electronic Information Technology , 2023, 21(1): 112 Copy Citation Text show less

    Abstract

    Dynamic pricing is one of the most effective ways to encourage customers to change their consumption pattern. Therefore, Reinforcement Learning-based Optimizing Dynamic Pricing(RLODP) algorithm is proposed for energy management in a hierarchical electricity market by considering both service provider's profit and customers' costs. Using Reinforcement Learning, the SP can adaptively determine the retail electricity price. Dynamic pricing problem is formulated as a discrete finite Markov Decision Process(MDP), and Q-learning is adopted to solve this decision-making problem. Simulation results show that the RLODP algorithm can reduce energy costs for customers, balance the energy supply and the demands in the electricity market.
    CAO Jun, SUN Yingying, ZHAO Hang. Reinforcement Learning-based Optimizing Dynamic Pricing algorithm in smart grid[J]. Journal of Terahertz Science and Electronic Information Technology , 2023, 21(1): 112
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