Open Access
Quantifying the Effect of Demand Response on Electricity Markets
Chua-Liang Su,Daniel S. Kirschen +1 more
- Vol. 31, Iss: 20, pp 7-15
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TLDR
In this paper, a new centralized complex-bid market-clearing mechanism has been devised to take into consideration the load shifting behavior of consumers who do submit price-sensitive bids, and the effects of the proportion of demand response on the market are illustrated using a test system with ten generating units scheduled over 24 periods.Abstract:
It is widely agreed that an increased participation of the demand side in the electricity markets would produce benefits not only for the individual consumers but also for the market as a whole. This paper proposes a method for quantifying rigorously the effect that such an increase would have on the various categories of market participants. A new centralized complex-bid market-clearing mechanism has been devised to take into consideration the load shifting behavior of consumers who do submit price-sensitive bids. The effects of the proportion of demand response on the market are illustrated using a test system with ten generating units scheduled over 24 periods.read more
Citations
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Demand response and smart grids—A survey
TL;DR: In this article, a survey of demand response potentials and benefits in smart grids is presented, with reference to real industrial case studies and research projects, such as smart meters, energy controllers, communication systems, etc.
Journal ArticleDOI
Review of energy system flexibility measures to enable high levels of variable renewable electricity
TL;DR: In this paper, the authors review different approaches, technologies, and strategies to manage large-scale schemes of variable renewable electricity such as solar and wind power, considering both supply and demand side measures.
Proceedings ArticleDOI
Optimal demand response based on utility maximization in power networks
Na Li,Lijun Chen,Steven H. Low +2 more
TL;DR: This paper considers households that operate different appliances including PHEVs and batteries and proposes a demand response approach based on utility maximization, which proposes a distributed algorithm for the utility company and the customers to jointly compute this optimal prices and demand schedules.
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Multi-Stage Robust Unit Commitment Considering Wind and Demand Response Uncertainties
TL;DR: In this article, a robust optimization approach was developed to derive an optimal unit commitment decision for the reliability unit commitment runs by ISOs/RTOs, with the objective of maximizing total social welfare under the joint worst-case wind power output and demand response scenario.
Journal ArticleDOI
An overview of Demand Response: Key-elements and international experience
Nikolaos G. Paterakis,Ozan Erdinc,Ozan Erdinc,Joao P. S. Catalao,Joao P. S. Catalao,Joao P. S. Catalao +5 more
TL;DR: In this article, a complete and up-to-date overview of demand response (DR) enabling technologies, programs and consumer response types is presented, as well as the benefits and the drivers that have motivated the adoption of DR programs and the barriers that may hinder their further development.
References
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Book
Power System Economics: Designing Markets for Electricity
TL;DR: In this paper, the authors present a detailed analysis of the real-time power market in theory and in practice, including the day-ahead market and the congestion pricing methods, as well as the two-settlement system.
Book
Fundamentals of power system economics
Daniel S. Kirschen,Goran Strbac +1 more
TL;DR: In this article, the authors discuss the need for a Managed Spot Market for electrical energy markets and present a model of competition in such a market, which is based on the theory of the firm.
Journal ArticleDOI
Measuring Market Inefficiencies in California's Restructured Wholesale Electricity Market
TL;DR: In this paper, the authors present a method for decomposing wholesale electricity payments into production costs, inframarginal competitive rents, and payments resulting from the exercise of market power, and find significant departures from competitive pricing, particularly during the high-demand summer months.
Journal ArticleDOI
Demand-side view of electricity markets
TL;DR: In this paper, the authors argue that increasing the short-run price elasticity of the demand for electrical energy would improve the operation of electricity markets, however, that enhancing this elasticity is not an easy task.