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An Agent-based Market-Clearing Scheme for the Exchange of Demand Response
conference contribution
posted on 2023-05-23, 05:41 authored by Michael NegnevitskyMichael Negnevitsky, Nguyen, Duy Thanh, de Groot, MIt 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.
History
Publication title
Proceedings of the IEEE/PES General MeetingPagination
1-6ISBN
978-1-4577-1001-8Department/School
School of EngineeringPublisher
IEEE PESPlace of publication
Detroit, MI, USAEvent title
IEEE PES General MeetingEvent Venue
Detroit, USADate of Event (Start Date)
2011-07-24Date of Event (End Date)
2011-07-28Rights statement
Copyright 2011 IEEERepository Status
- Restricted