A Preliminary Implementation on Pricing Mechanisms for Electric Resource Control Markets

In this paper, I discuss about a preliminary idea and its implementation of an auction-based dynamic electric power resource allocation framework that utilizes certain tractable pricing mechanisms, which can cover middle-scale smart grids, e.g., grids for manufacturing industries in a small city with several power suppliers. I illustrate how such an auction-based pricing mechanism can be modeled as a variant of reserve price biddings on multi-unit combinatorial auctions when we consider the allocation of aggregated electricity in a day, considering electricity generation costs on the power suppliers.