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Conference Paper: A price-based demand response scheduling model in day-ahead electricity market

TitleA price-based demand response scheduling model in day-ahead electricity market
Authors
Keywordssocial welfare
Day-ahead scheduling
demand response
demand variation
price-elastic demand bid
Issue Date2016
PublisherIEEE.
Citation
IEEE Power and Energy Society General Meeting (PESGM), Boston, MA, 17-21 July 2016 How to Cite?
AbstractThe variation of power consumption on the demand side is a challenging issue for the real time balancing of power systems. To tackle this problem, various demand response programs have been introduced to help the Independent System Operator (ISO) in mitigating the demand fluctuation. Typically, they include demand curtailment programs and price responsive demand programs. This paper presents a scheduling model at the day-ahead stage incorporating the price-based demand bidding that enables the price-elastic feature of demand. The bidding mechanism is visualized and the mathematical representation of the scheduling model are presented. By simulating the model on the IEEE 30-bus system, it is shown that integrating price-elastic demand bids into day-ahead scheduling can effectively reduce the demand to average demand ratio. In addition, the proposed model not only brings surplus to the participating load serving entities (LSEs), but also increase the social welfare of the power system.
Persistent Identifierhttp://hdl.handle.net/10722/253795
ISSN

 

DC FieldValueLanguage
dc.contributor.authorDuan, Q-
dc.date.accessioned2018-05-29T07:09:25Z-
dc.date.available2018-05-29T07:09:25Z-
dc.date.issued2016-
dc.identifier.citationIEEE Power and Energy Society General Meeting (PESGM), Boston, MA, 17-21 July 2016-
dc.identifier.issn1944-9933-
dc.identifier.urihttp://hdl.handle.net/10722/253795-
dc.description.abstractThe variation of power consumption on the demand side is a challenging issue for the real time balancing of power systems. To tackle this problem, various demand response programs have been introduced to help the Independent System Operator (ISO) in mitigating the demand fluctuation. Typically, they include demand curtailment programs and price responsive demand programs. This paper presents a scheduling model at the day-ahead stage incorporating the price-based demand bidding that enables the price-elastic feature of demand. The bidding mechanism is visualized and the mathematical representation of the scheduling model are presented. By simulating the model on the IEEE 30-bus system, it is shown that integrating price-elastic demand bids into day-ahead scheduling can effectively reduce the demand to average demand ratio. In addition, the proposed model not only brings surplus to the participating load serving entities (LSEs), but also increase the social welfare of the power system.-
dc.languageeng-
dc.publisherIEEE.-
dc.relation.ispartofIEEE Power and Energy Society General Meeting (PESGM)-
dc.rightsIEEE Power and Energy Society General Meeting (PESGM). Copyright © IEEE.-
dc.rights©20xx IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.-
dc.subjectsocial welfare-
dc.subjectDay-ahead scheduling-
dc.subjectdemand response-
dc.subjectdemand variation-
dc.subjectprice-elastic demand bid-
dc.titleA price-based demand response scheduling model in day-ahead electricity market-
dc.typeConference_Paper-
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1109/PESGM.2016.7741812-
dc.identifier.hkuros281184-
dc.publisher.placeBoston, MA-

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