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Pool-Based Demand Response Exchange - Concept and Modeling


Nguyen, Duy Thanh and Negnevitsky, M and de Groot, M, Pool-Based Demand Response Exchange - Concept and Modeling, IEEE Transactions on Power Systems, 26, (3) pp. 1677-1685. ISSN 0885-8950 (2011) [Refereed Article]

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Copyright Statement

Copyright 2011 IEEE

DOI: doi:10.1109/TPWRS.2010.2095890


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.

Item Details

Item Type:Refereed Article
Keywords:contracts, electricity, load management , power system reliability, assurance contract, demand response, demand response exchange, microeconomic theory, public good, restructured power systems
Research Division:Engineering
Research Group:Electrical engineering
Research Field:Electrical energy generation (incl. renewables, excl. photovoltaics)
Objective Division:Energy
Objective Group:Energy storage, distribution and supply
Objective Field:Energy storage, distribution and supply not elsewhere classified
UTAS Author:Nguyen, Duy Thanh (Dr Thanh Nguyen)
UTAS Author:Negnevitsky, M (Professor Michael Negnevitsky)
ID Code:75269
Year Published:2011
Web of Science® Times Cited:146
Deposited By:Centre for Renewable Power Energy Systems
Deposited On:2012-01-19
Last Modified:2017-11-06

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