The ISO Problem: Decentralized Stochastic Control via Bidding Schemes
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© 2015 IEEE. We consider a smart-grid connecting several agents, modeled as stochastic dynamical systems, who may be electricity consumers/producers. At each discrete time instant, which may represent a 15 minute interval, each agent may consume/generate some quantity of electrical energy. The Independent System Operator (ISO) is given the task of assigning consumptions/generations to the agents so as to maximize the sum of the utilities accrued to the agents, subject to the constraint that energy generation equals consumption at each time.
author list (cited authors)
Singh, R., Kumar, P. R., & Xie, L. e.