Pool-based Demand Response Exchange: Concept and modeling

In restructured power systems there are many independent players who benefit from Demand Response (DR). These include the Transmission System Operator (TSO), distributors, retailers, and aggregators. This paper proposes a new concept-Demand Response exchange (DRX)-in which DR is treated as a public...

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Bibliographic Details
Published in2011 IEEE Power and Energy Society General Meeting p. 1
Main Authors Thanh Nguyen, Negnevitsky, M., de Groot, M.
Format Conference Proceeding
LanguageEnglish
Published IEEE 01.07.2011
Subjects
Contracts
Electricity
Load management
Power system reliability
Reliability
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ISBN9781457710001
1457710005
ISSN1932-5517
DOI10.1109/PES.2011.6039051

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Summary:In restructured power systems there are many independent players who benefit from Demand Response (DR). These include the Transmission System Operator (TSO), distributors, retailers, and aggregators. This paper proposes a new concept-Demand Response exchange (DRX)-in which DR is treated as a public good to be exchanged between DR buyers and sellers. Buyers need DR to improve the reliability of their own electricity dependent businesses and systems. Sellers have the capacity to significantly modify electricity demand on request. Microeconomic theory is applied to model the DRX in the form of a pool-based market. In this market, a DRX Operator (DRXO) collects DR bids and offers from the buyers and sellers respectively. It then clears the market by maximizing the total market benefit subject to certain constraints including: demand-supply balance, and assurance contracts related to individual buyer contributions for DR. The DRX model is also tested on a small power system, and its efficiency is reported.
ISBN:9781457710001
1457710005
ISSN:1932-5517
DOI:10.1109/PES.2011.6039051