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Pool-Based Demand Response Exchange - Concept and Modeling

Citation

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

Abstract

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 and Electronic Engineering
Research Field:Power and Energy Systems Engineering (excl. Renewable Power)
Objective Division:Energy
Objective Group:Energy Storage, Distribution and Supply
Objective Field:Energy Storage, Distribution and Supply not elsewhere classified
Author:Nguyen, Duy Thanh (Dr Thanh Nguyen)
Author:Negnevitsky, M (Professor Michael Negnevitsky)
ID Code:75269
Year Published:2011
Web of Science® Times Cited:72
Deposited By:Centre for Renewable Power Energy Systems
Deposited On:2012-01-19
Last Modified:2017-11-06
Downloads:0

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