Optimal Bidding Strategy of Responsive Demands in a New Decentralized Market-Based Scheme

• Type: Article in International Conference Proceedings Book
• Date: 2017

Authors

Garcia, TS (Author) Other; Shafie khah, M (Author) Other; Osorio, GJ (Author) Other; Calalao, JPS (Author) FEUP

Conference proceedings International

Title: 2017 1ST IEEE INTERNATIONAL CONFERENCE ON ENVIRONMENT AND ELECTRICAL ENGINEERING AND 2017 17TH IEEE INDUSTRIAL AND COMMERCIAL POWER SYSTEMS EUROPE (EEEIC / I&CPS EUROPE)

17th IEEE International Conference on Environment and Electrical Engineering (IEEE EEEIC) / 1st IEEE Industrial and Commercial Power Systems Europe (IEEE I&CPS Europe)

Milan, ITALY, JUN 06-09, 2017

Indexing

ISI Web of Knowledge - 0 Citations

Scopus - 4 Citations

Other information

Authenticus ID: P-00N-7R0

DOI: 10.1109/eeeic.2017.7977700

Abstract (EN): ' In this paper, a market-based control scheme is proposed to determine the minimum billing cost of responsive demands with the minimum impact on their satisfaction. For this purpose, the responsive demands are modeled as agents who bid to the energy market. In the model, the financial compensation provided by the market motivates the responsive demands to shift their load to off-peak periods. Since dissatisfaction is caused by the deviation from the reference consumption, the responsive demands' bids are dependent on the level of satisfaction that consumers are willing to have. Numerical results reveal that the billing cost of these customers is meaningfully decreased compared to the uncontrolled approaches. In addition, the results are compared to the centralized aggregation-based approach, in which a demand response aggregation entity directly buys energy on behalf of responsive demands in the market. The results indicate the effectiveness of the proposed decentralized market-based scheme.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 5