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An Agent-based Market-Clearing Scheme for the Exchange of Demand Response


Negnevitsky, M and Nguyen, Duy Thanh and de Groot, M, An Agent-based Market-Clearing Scheme for the Exchange of Demand Response, Proceedings of the IEEE/PES General Meeting, 24-28 July, Detroit, USA, pp. 1-6. ISBN 978-1-4577-1001-8 (2011) [Refereed Conference Paper]

Copyright Statement

Copyright 2011 IEEE

DOI: doi:10.1109/PES.2011.6039075


It is widely agreed that Demand Response (DR), in the form of load curtailments in power systems, not only improve the system reliability but also the market efficiency through the mitigation of spot price volatility. This panel paper introduces a novel agent-based market-clearing scheme for fairly distributing the benefits of such DR's on various categories of market participants (as agents). The proposed scheme is called Demand Response eXchange (DRX), in which DR is treated as a virtual resource to be exchanged between two groups of participating agents, namely DR buyers and sellers. While buyers demand DR and are willing to pay for it, sellers have the capability to curtail customer loads to supply this DR on request. Core concepts and are developed in this paper.

Item Details

Item Type:Refereed Conference Paper
Keywords:Demand Response, Demand Response Exchange, Walrasian auctions, market equilibrium, Pareto optimality
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:Negnevitsky, M (Professor Michael Negnevitsky)
UTAS Author:Nguyen, Duy Thanh (Dr Thanh Nguyen)
ID Code:75326
Year Published:2011
Deposited By:Centre for Renewable Power Energy Systems
Deposited On:2012-01-24
Last Modified:2017-11-06

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