Journal ArticleDOI
Optimal Demand Response Aggregation in Wholesale Electricity Markets
TLDR
The aggregation of DR contracts is considered in the proposed price-based self-scheduling optimization model to determine optimal DR schedules for participants in day-ahead energy markets.Abstract:
Advancements in smart grid technologies have made it possible to apply various options and strategies for the optimization of demand response (DR) in electricity markets. DR aggregation would accumulate potential DR schedules and constraints offered by small- and medium-sized customers for the participation in wholesale electricity markets. Despite various advantages offered by the hourly DR in electricity markets, practical market tools that can optimize the economic options available to DR aggregators and market participants are not readily attainable. In this context, this paper presents an optimization framework for the DR aggregation in wholesale electricity markets. The proposed study focuses on the modeling strategies for energy markets. In the proposed model, DR aggregators offer customers various contracts for load curtailment, load shifting, utilization of onsite generation, and energy storage systems as possible strategies for hourly load reductions. The aggregation of DR contracts is considered in the proposed price-based self-scheduling optimization model to determine optimal DR schedules for participants in day-ahead energy markets. The proposed model is examined on a sample DR aggregator and the numerical results are discussed in the paper.read more
Citations
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Journal ArticleDOI
Energy Pricing and Dispatch for Smart Grid Retailers Under Demand Response and Market Price Uncertainty
Wei Wei,Feng Liu,Shengwei Mei +2 more
TL;DR: This paper proposes a two-stage two-level model for the energy pricing and dispatch problem faced by a smart grid retailer who plays the role of an intermediary agent between a wholesale energy market and end consumers and proposes a heuristic method to select the parameter in disjunctive constraints based on the interpretation of Lagrange multipliers.
Journal ArticleDOI
Optimisation of demand response in electric power systems, a review
TL;DR: This paper aims to review different research works on DR optimisation problems and some directions for future research are proposed.
Journal ArticleDOI
Risk-Constrained Profit Maximization for Microgrid Aggregators With Demand Response
Duong Tung Nguyen,Long Bao Le +1 more
TL;DR: A risk-constrained scenario-based stochastic programming framework is proposed where the MG aggregator's risk aversion is modeled using conditional value at risk method and customers' demand response aggregation is integrated into the operation of theMG aggregator via contractual agreements.
Journal ArticleDOI
Optimal Behavior of Electric Vehicle Parking Lots as Demand Response Aggregation Agents
Miadreza Shafie-khah,Ehsan Heydarian-Forushani,Gerardo J. Osorio,Fabio A. S. Gil,Jamshid Aghaei,Mostafa Barani,Joao P. S. Catalao +6 more
TL;DR: A model is developed to derive optimal strategies of parking lots, as responsive demands, in both price-based and incentive-based demand response programs (DRPs), and indicates that the PEV parking lots can benefit from the selective participation in DRPs.
Journal ArticleDOI
Probabilistic optimal scheduling of networked microgrids considering time-based demand response programs under uncertainty
TL;DR: In this article, a daily optimal scheduling problem of NMGs considering intermittent behavior in generation and load is investigated in a proposed energy management system (EMS), two demand response programs (DRPs) based on time of use (TOU) and real time pricing (RTP) are integrated into the optimal scheduling model and the developed model is solved using a metaheuristic algorithm under uncertainties of RESs and loads.
References
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Journal ArticleDOI
Demand Response as a Market Resource Under the Smart Grid Paradigm
Farrokh Rahimi,Ali Ipakchi +1 more
TL;DR: The main industry drivers of smart grid and the different facets of DER under the smart grid paradigm are explored and the existing and evolving programs at different ISOs/RTOs and the product markets they can participate in are summarized.
ReportDOI
Energy Storage for the Electricity Grid: Benefits and Market Potential Assessment Guide A Study for the DOE Energy Storage Systems Program
James M. Eyer,Garth P. Corey +1 more
TL;DR: In this article, the authors present a high-level, technology-neutral framework for assessing potential benefits from and economic market potential for energy storage used for electric utility-related applications, possibly including distributed and/or modular systems.
Journal ArticleDOI
SCUC With Hourly Demand Response Considering Intertemporal Load Characteristics
TL;DR: The study results show that DR could shave the peak load, reduce the system operating cost, reduce fuel consumptions and carbon footprints, and reduce the transmission congestion by reshaping the hourly load profile.
Journal ArticleDOI
Optimal Demand-Side Bidding Strategies in Electricity Spot Markets
TL;DR: In this paper, a genetic algorithm has been designed to optimize the parameters that define the best purchasing strategy of a retailer who supplies electricity to end-users in the short-term electricity market.