Stochastic Short-term Incentive-based Demand Response Scheduling of Load-serving Entities

Mohammad Ali Fotouhi Ghazvini; Pedro Faria; Hugo Morais; Zita Vale

Stochastic Short-term Incentive-based Demand Response Scheduling of Load-serving Entities

Mohammad Ali Fotouhi Ghazvini
, Pedro Faria
, Hugo Morais
, Zita Vale

Instituto Politécnico do Porto
Technical University of Denmark

Research output: Chapter in Book/Report/Conference proceeding › Article in proceedings › Research › peer-review

151 Downloads (Orbit)

Abstract

In competitive electricity markets it is necessary for a profit-seeking load-serving entity (LSE) to optimally adjust the financial incentives offering the end users that buy electricity at regulated rates to reduce the consumption during high market prices. The LSE in this model manages the demand response (DR) by offering financial incentives to retail customers, in order to maximize its expected profit and reduce the risk of market power experience. The stochastic formulation is
implemented into a test system where a number of loads are supplied through LSEs.

Original language	English
Title of host publication	IEEE Power and Energy Society General Meeting 2013
Number of pages	5
Publisher	IEEE
Publication date	2013
Publication status	Published - 2013
Externally published	Yes
Event	2013 IEEE Power and Energy Society General Meeting - Vancouver, Canada Duration: 21 Jul 2013 → 25 Jul 2013 https://ieeexplore.ieee.org/xpl/conhome/6657332/proceeding

Conference

Conference	2013 IEEE Power and Energy Society General Meeting
Country/Territory	Canada
City	Vancouver
Period	21/07/2013 → 25/07/2013
Internet address	https://ieeexplore.ieee.org/xpl/conhome/6657332/proceeding

Keywords

Day-ahead market
Demand response
demandside bidding
Load-serving entities
Stochastic programming.

Access to Document

PESGM2013 AliAccepted author manuscript, 958 KB

OpenUrl availability

Check availability in DTU Findit

Cite this

@inproceedings{ccca50c4af904780bf79429a296dce99,

title = "Stochastic Short-term Incentive-based Demand Response Scheduling of Load-serving Entities",

abstract = "In competitive electricity markets it is necessary for a profit-seeking load-serving entity (LSE) to optimally adjust the financial incentives offering the end users that buy electricity at regulated rates to reduce the consumption during high market prices. The LSE in this model manages the demand response (DR) by offering financial incentives to retail customers, in order to maximize its expected profit and reduce the risk of market power experience. The stochastic formulation is implemented into a test system where a number of loads are supplied through LSEs.",

keywords = "Day-ahead market, Demand response, demandside bidding, Load-serving entities, Stochastic programming.",

author = "Ghazvini, \{Mohammad Ali Fotouhi\} and Pedro Faria and Hugo Morais and Zita Vale",

year = "2013",

language = "English",

booktitle = "IEEE Power and Energy Society General Meeting 2013",

publisher = "IEEE",

address = "United States",

note = "2013 IEEE Power and Energy Society General Meeting, PESGM 2013 ; Conference date: 21-07-2013 Through 25-07-2013",

url = "https://ieeexplore.ieee.org/xpl/conhome/6657332/proceeding",

}

TY - GEN

T1 - Stochastic Short-term Incentive-based Demand Response Scheduling of Load-serving Entities

AU - Ghazvini, Mohammad Ali Fotouhi

AU - Faria, Pedro

AU - Morais, Hugo

AU - Vale, Zita

PY - 2013

Y1 - 2013

N2 - In competitive electricity markets it is necessary for a profit-seeking load-serving entity (LSE) to optimally adjust the financial incentives offering the end users that buy electricity at regulated rates to reduce the consumption during high market prices. The LSE in this model manages the demand response (DR) by offering financial incentives to retail customers, in order to maximize its expected profit and reduce the risk of market power experience. The stochastic formulation is implemented into a test system where a number of loads are supplied through LSEs.

AB - In competitive electricity markets it is necessary for a profit-seeking load-serving entity (LSE) to optimally adjust the financial incentives offering the end users that buy electricity at regulated rates to reduce the consumption during high market prices. The LSE in this model manages the demand response (DR) by offering financial incentives to retail customers, in order to maximize its expected profit and reduce the risk of market power experience. The stochastic formulation is implemented into a test system where a number of loads are supplied through LSEs.

KW - Day-ahead market

KW - Demand response

KW - demandside bidding

KW - Load-serving entities

KW - Stochastic programming.

M3 - Article in proceedings

BT - IEEE Power and Energy Society General Meeting 2013

PB - IEEE

T2 - 2013 IEEE Power and Energy Society General Meeting

Y2 - 21 July 2013 through 25 July 2013

ER -

Stochastic Short-term Incentive-based Demand Response Scheduling of Load-serving Entities

Abstract

Conference

Keywords

Access to Document

OpenUrl availability

Fingerprint

Cite this