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A New and Separated Market for Demand Response in Restructured Power Systems
conference contribution
posted on 2023-05-23, 05:41 authored by Nguyen, Duy Thanh, Michael NegnevitskyMichael Negnevitsky, de Groot, MThis paper introduces a new and separated market for the trading of Demand Response (DR) in a restructured power system. This market is called Demand Response eXchange or shortly DRX, in which DR is treated as a virtual resource to be exchanged between DR buyers and sellers. Buyers - including the Transmission System Operator (TSO), distributors, and retailers - need DR to improve the efficiency and reliability of their own businesses and systems. Sellers - including consumers through an aggregator - negotiate DR with those buyers. The DRX is modeled in the form of a pool-based market using microeconomic theory. In this market, a DRX Operator (DRXO) collects bids and offers from DR buyers and sellers respectively. It then clears the market by maximising the total market benefit subject to certain operational constraints. The DRX model is also tested on a small power system in comparison to conventional DR approaches, and its advantages are reported.
History
Publication title
Proceedings of the 2011 IEEE PES Power Systems Conference and ExpositionEditors
Power and Energy SocietyPagination
867-874ISBN
978-1-61284-787-0Department/School
School of EngineeringPublisher
IEEE PESPlace of publication
Phoenix, Arizona, USAEvent title
2011 IEEE PES Power Systems Conference and ExpositionEvent Venue
Phoenix, Arizona, USADate of Event (Start Date)
2011-03-20Date of Event (End Date)
2011-03-23Rights statement
Copyright 2011 IEEERepository Status
- Restricted