Bidding strategy in demand response exchange market

Demand response (DR) has many beneficiaries in the electricity market. There are independent players who are interested in DR, which include: transmission system owners, distributors, retailers, and aggregators. In this paper DR is introduced as a tradable commodity that can be exchanged between DR...

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Bibliographic Details
Published in2012 Proceedings of 17th Conference on Electrical Power Distribution pp. 1 - 5
Main Authors Arasteh, H. R., Moghaddam, M. Parsa, Sheikh-El-Eslami, M. K.
Format Conference Proceeding
LanguageEnglish
Published IEEE 01.05.2012
Subjects
ARIMA method
demand response exchange
DR buyers bidding
dynamic participation
Electricity
Electricity supply industry
Forecasting
Load management
Load modeling
Power systems
Reliability
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Summary:Demand response (DR) has many beneficiaries in the electricity market. There are independent players who are interested in DR, which include: transmission system owners, distributors, retailers, and aggregators. In this paper DR is introduced as a tradable commodity that can be exchanged between DR buyers and sellers in a pool-based market which is called demand response exchange (DRX). DRX operator (DRXO) collects DR offers and bids from the buyers and sellers. In this paper, a novel approach has been presented for buyers to bid in a DRX market. Also a dynamic approach has been proposed for DR sellers' participation in DRX market. In the proposed approach, the buyers should forecast their loads and energy market prices. An ARIMA method is used for these forecasts. Then, a dynamic approach is proposed for DR sellers in order to maximize their profits. The proposed scheme is tested using Spain market data. The results show the efficiency and accuracy of the proposed approach.
ISBN:1467314188
9781467314183