Real‐time pricing for smart grid with multiple energy coexistence on the user side

Abstract With the development of new technology for multiple energy applications, household appliances using electricity and other energy sources are becoming increasingly abundant. Users can freely choose the way of energy consumption based on the price of electricity and other energy sources. The phenomenon has become one of the important factors affecting real‐time pricing. This study considers real‐time pricing in the case of multiple energy coexistence on the user side. According to the spatiotemporal coupling of electricity and other energy sources and the relationship between other energy sources and total energy consumption, an optimization model that satisfies the actual situation is established. By using the relaxation theory and dual decomposition technology, a partially distributed algorithm is proposed for multi‐period coupling and finding the optimal energy scheduling scheme for the energy company and each user, so as to maximize social welfare. In addition, under the background of multiple energy coupling, real‐time pricing can guide users to adjust their electricity consumption behaviour vertically and horizontally, change the type of energy, meet energy demand for end users and effectively reduce the peak‐to‐average ratio. Simulation results verify the rationality of the model and the effectiveness of the algorithm.