Standardised the smart grid. The smart grid is
Standardised dynamic pricing model for cloud services in smart citiesA smart city is a new concept of cities that apply the new generation of information communication technologies (Smart ICT), such as the Internet-of-Things, cloud computing, big data, to improve and manage the planning, construction and smart services of cities. Developing Smart Cities can benefit synchronized development, industrialization, information sharing, urbanization and agricultural modernization and sustainability of cities development. The utility power system in smart City is highly energy and resource efficient, and is increasingly powered by renewable energy sources; it relies on integrated and resilient resource systems, as well as insight-driven and innovative approaches to strategic planning. The application of information and communication technologies is commonly a means to meet these objectives. One of the major components of smart cities’ utility power system is the smart grid. The smart grid is an electrical grid including a variety of operational and energy measures such as smart meters, smart appliances and allows the integration of various power generation resources.As reported by the Energy Information Administration, the energy provided by fossil fuels accounts for 62% of the total global energy consumption, 38% worldwide energy generation comes from renewables energies. Furthermore, the worldwide energy consumption is expected to increase 82% in the following decade. With the increasing concerns about climate change the interest in integrating renewable resources into the smart grid increases. As these renewable energy sources might be highly intermittent in nature and often uncontrollable, they could produce a significant challenge for the reliability of the grid. It is therefore a challenging task to guarantee that the power demand, load and power generation remain balanced; stressing the need for standardised power allocation and dynamic pricing schemes. There are many challenges and opportunities of emerging and future smart grids and smart cities, which can be addressed by means of cloud computing. For instance, dynamic energy pricing, i.e., shifting the potential peak demand to a different time when the energy price is lower. A cloud-based platform will be instrumental in minimizing network complexity and providing cost-effective solutions as well as increasing the utilization of energy. Smart grid and smart city services/applications may be deployed in various ways, such as in a private cloud, community cloud, or hybrid cloud.As a step into this direction, we study dynamic pricing strategies for brokering, which will be implemented on the cloud service, based upon data collected from smart meters to help the users make the best selection with the energy resources from different energy retailers. In this dynamic pricing scheme, more than one energy retailer is considered and for each retailer, the price for the users can be adjusted dynamically depending on the current energy demand and prices offered by the other retailers in each region; in order to achieve the highest individual or combined revenue. The users’ energy demand changes with the price to maximize their individual utility, and users might choose different retailers based on the provided prices. The brokering will choose the lowest cost of energy resources based on clients’ energy usage demand in real time. Dynamic pricing aims at reducing the overall energy consumption, the capacity of end use customers to change their electricity usage from their normal or current consumption patterns in response to market signals is mainly about shifting consumption to a different point in time.Furthermore, during the analysis, we have come to know that standardization in the area of metering and billing lags behind research. Therefore, in our study we focus on researching the market requirements for cloud service metering and billing to highlight and determine gaps between industry practices, market requirements and current technical standardisation efforts at ISO/IEC JTC 1/SC 38 committee in order to pave the way to establishing standards in metering indicators and billing principles for cloud services this while keeping in mind privacy and data protection risks and regulations enforced by ISO JT1/SC 27 and EU General Data Protection Regulation effective May 2018. Key words: Smart Cities, Smart Meter, Dynamic Pricing, Technical Standardisation, Cloud Computing This research was conducted in collaboration with ILNAS – the Institut Luxembourgeois de la Normalisation, de l’Accréditation, de la Sécurité et qualité des produits et services (ILNAS) under the authority of the Minister of Economy, Luxembourg.