Time-series properties of the power grid with real-time pricing load customers

This study reports agent-based simulation findings regarding the effect of price forecast methods on power market stability. Under the dynamic pricing scheme, the uncleared issue is the emergent behavior of retail customers given the fact that customers have to forecast real-time price to make optimal consumption decisions. The interaction of intelligent retail customers who learn to select forecast methods drives the system dynamics. Simulation results are used to compare with analytical model to draw conclusions on the effect of different factors on the system stability.