Optimized power grid operations for negative pricing using collective intelligence

Electricity pricing in the market has been going negative in recent days due to lower demand or Net Demand Variability (NDV) in the instances of surplus supply due to variable additional sources in the market. The WG (Working Group) analysis reflects the same as fossil fuels like coal/gas are relieved by renewable energy like wind/solar. Negative pricing (NP) is a market-based methodology to administrate excess supply to electric grid as this excess supply imbalances the supply/demand curve.NP is predominant in western countries like Europe, Americas & Australia. But it is getting more common these days in Indian grid. Mere cutting off the source may help the administration manage the situation, but NP, if used with a Collective Intelligence (CI) can help both suppliers, users & the overall economy of the nation. Here CI refers to the data interaction among suppliers, users & power grid administrators with the aid of AI. CI here helps industries consuming power to get prepared in advance to use the available power or subsidized power to keep up the demand and avoid the grid operation in NP regime. The way of dealing with NP & utilizing a catastrophe as an opportunity is discussed in this paper. CI has been implemented in many countries among various electricity suppliers, but not among the various users of industry. Observed energy savings ranging from 10~30% ($220~$1.7 billion) has been experienced by various countries. If CI is extended among these industrial stakeholders with effective planning and implementation mentioned in this article, the % savings could even exceed above 30% in energy and $1.7 billion.