An extended mean field game for storage in smart grids

DOI10.1007/S10957-019-01619-3MaRDI QIDQ2302762zbMATH OpenOpenAlexWikidataFDO

Authors Clémence Alasseur, Imen Ben Taher, Anis Matoussi

Publication date 26 February 2020

Published in Journal of Optimization Theory and Applications (Search for Journal in Brave)

Full work available at URL https://arxiv.org/abs/1710.08991

zbMATH Keywords

distributed generationmean field gamesNash equilibriumstochastic controlsmart gridoptimal storageextended mean field gamestochastic renewable generation

Mathematics Subject Classification ID

Differential games and control (49N70) Differential games (aspects of game theory) (91A23) Linear-quadratic optimal control problems (49N10) Variational principles of physics (49S05) (n)-person games, (n>2) (91A06) Stochastic games, stochastic differential games (91A15) Optimal stochastic control (93E20)

Abstract: We consider a stylized model for a power network with distributed local power generation and storage. This system is modeled as network connection 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 rates 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). In a linear quadratic setting, we obtain and explicit solution to the EMFG, we show that it provides an approximate Nash-equilibrium for $N$-player game, and we compare this solution to the optimal strategy of a central planner.

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