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A mean-field game model for management of distributed storages for the power system

Presented by: 
Clemence Alasseur EDF, France
Friday 11th January 2019 - 09:00 to 10:00
INI Seminar Room 1
Session Title: 
Storage & Data analytics
We consider a stylized model for a power network with distributed local power generation and storage. This system is modeled as a network connection of a large number of nodes, where each node is characterized by a local electricity consumption, has a local electricity production (e.g. photovoltaic panels), and manages a local storage device. Depending on its instantaneous consumption and production rate as well as its storage management decision, each node may either buy or sell electricity, impacting the electricity spot price. The objective at each node is to minimize energy and storage costs by optimally controlling the storage device. In a non-cooperative game setting, we are led to the analysis of a non-zero sum stochastic game with N players where the interaction takes place through the spot price mechanism. For an infinite number of agents, our model corresponds to an Extended Mean-Field Game (EMFG). We are able to compare this solution to the optimal strategy of a central planner and in a linear quadratic setting, we obtain and explicit solution to the EMFG and we show that it provides an approximate Nash-equilibrium for N-player game.
University of Cambridge Research Councils UK
    Clay Mathematics Institute London Mathematical Society NM Rothschild and Sons