Journal
IEEE TRANSACTIONS ON POWER SYSTEMS
Volume 24, Issue 3, Pages 1199-1207Publisher
IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC
DOI: 10.1109/TPWRS.2009.2023259
Keywords
Demand response; demand-side participation; electricity markets; global welfare maximization; load shifting; mixed-integer linear programming
Categories
Funding
- Engineering and Physical Science Research Council (UK) [TPWRS-00694-2008]
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It is widely agreed that an increased participation of the demand side in the electricity markets would produce benefits not only for the individual consumers but also for the market as a whole. This paper proposes a method for quantifying rigorously the effect that such an increase would have on the various categories of market participants. A new centralized complex-bid market-clearing mechanism has been devised to take into consideration the load shifting behavior of consumers who do submit price-sensitive bids. The effects of the proportion of demand response on the market are illustrated using a test system with ten generating units scheduled over 24 periods.
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