Journal
IEEE TRANSACTIONS ON SMART GRID
Volume 12, Issue 3, Pages 2736-2740Publisher
IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC
DOI: 10.1109/TSG.2020.3040084
Keywords
Load modeling; Generators; Real-time systems; Load management; Mathematical model; Electricity supply industry; Electrical engineering; Security constrained economic dispatch~(SCED); demand response; locational marginal price (LMP); equilibrium point; bi-level optimization
Categories
Funding
- National Natural Science Foundation of China [51977166]
- Natural Science Foundation of Shaanxi Province [2020KW-022]
- China Postdoctoral Science Foundation [2017T100748]
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This letter proposes a model for tracking the equilibrium point of the real-time locational marginal price based residential demand response program, where demand elasticity is modeled as a monotonically decreasing linear function of the LMP. The dual model, formulated as a convex quadratic problem using duality, is shown to be tractable to solve and find the global optimum. Numerical results on the IEEE 30-bus system verify the effectiveness of the demand response model.
This letter proposes a model for tracking the equilibrium point of the real-time locational marginal price (LMP) based residential demand response program, where elastic demand is modeled as a monotonously decreasing linear function of the LMP. The resulting bi-level model contains both primary and dual variables, making it difficult to solve. Using duality, the dual model is formulated as a convex quadratic problem which is tractable to solve and find the global optimum. Furthermore, the condition for the existence of the equilibrium point is given. Numerical results on the IEEE 30-bus system verifies the effectiveness of the demand response model.
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