Optimal demand response based on time-correlated utility in forward power markets

• Published in: 2015 IEEE PES Innovative Smart Grid Technologies Latin America (ISGT LATAM) pp. 597 - 602
• Main Authors: Montes de Oca, Sebastian, Belzarena, Pablo, Monzon, Pablo
• Format: Conference Proceeding
• Language: English
• Published: IEEE 01.10.2015
• Subjects: Batteries; decomposition algorithms; Demand Response; Electricity supply industry; Home appliances; Load management; LSE; Power demand; Real-time systems; Smart Grid; Smart grids

This paper is concerned with integration of demand response from small loads such as residential small appliance into forward electricity market. We use a simple model and formulate the problem as a dynamic program that maximizes social welfare. We focus particularly in those electric appliances wit...