A demand, load and power generation remain balanced; stressing

A smart city is a new concept of cities thatapply 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 ofcities. Developing Smart Cities can benefit synchronized development,industrialization, information sharing, urbanization and agriculturalmodernization and sustainability of cities development. The utility powersystem in smart City is  highly  energy  and  resource efficient,  and  is   increasingly  powered by  renewable  energy   sources; it relies onintegrated and resilient  resource  systems,  as  well as  insight-driven   and  innovative  approaches to  strategic  planning. The application of information andcommunication technologies is commonly a means to meet these objectives. One ofthe major components of smart cities’ utility power system is the smart grid.

The smart grid is an electrical grid including a variety of operational andenergy measures such as smart meters, smart appliances and allows theintegration of various power generation resources. As reported by the Energy InformationAdministration, the energy provided by fossil fuels accounts for 62% of thetotal global energy consumption, 38% worldwide energy generation comes fromrenewables energies. Furthermore, the worldwide energy consumption is expectedto increase 82% in the following decade. Withthe increasing concerns about climate change the interest in integratingrenewable resources into the smart grid increases. As these renewable energysources might be highly intermittent in nature and often uncontrollable, theycould produce a significant challenge for the reliability of the grid. It istherefore a  challenging  task  to  guarantee  that  the power  demand,  load and power generation remain balanced;stressing the need for standardised power allocation and dynamic pricingschemes.

There are many challenges and opportunities of emerging and futuresmart grids and smart cities, which can be addressed by means of cloudcomputing. For instance, dynamic energy pricing, i.e., shifting the potentialpeak demand to a different time when the energy price is lower. A cloud-basedplatform will be instrumental in minimizing network complexity and providingcost-effective solutions as well as increasing the utilization of energy. Smartgrid and smart city services/applications may be deployed in various ways, suchas in a private cloud, community cloud, or hybrid cloud. As a step into this direction, we study dynamic pricingstrategies for brokering, which will be implemented on the cloud service, basedupon data collected from smart meters to help the users make the best selectionwith the energy resources from different energy retailers. In this dynamicpricing scheme, more  than  one  energy  retailer isconsidered and for each retailer, the price  for  the users  can be  adjusted  dynamically  depending on the current energydemand  and  prices  offered  by the other retailers ineach region; in order to achieve the highest individual or combined revenue.

Theusers’ energy demand changes  with  the  price  to maximize  their  individual  utility, and  users might  choose  different  retailers  based  onthe  provided  prices. The brokering will choose the lowest cost of energyresources based on clients’ energy usage demand in real time. Dynamic pricingaims at reducing the overall energy consumption, the capacity of end usecustomers 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 thatstandardization in the area of metering and billing lags behind research.Therefore, in our study we focus on researching the market requirements forcloud service metering and billing to highlight and determine gaps betweenindustry practices, market requirements and current technical standardisationefforts at ISO/IEC JTC 1/SC 38 committee in order to  pave the way toestablishing standards in metering indicators and billing principles for cloudservices this while keeping in mind privacy and data protection risks andregulations enforced by ISO JT1/SC 27 and EU General Data Protection Regulationeffective 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 laSécurité et qualité des produits et services (ILNAS) under the authority of theMinister of Economy, Luxembourg.