Journal
IEEE TRANSACTIONS ON SMART GRID
Volume 11, Issue 6, Pages 5462-5465Publisher
IEEE-INST ELECTRICAL ELECTRONICS ENGINEERS INC
DOI: 10.1109/TSG.2020.3000651
Keywords
Pricing; Optimization; Tariffs; Probability distribution; Upper bound; Mathematical model; Power systems; Demand response; electricity pricing; bilevel optimization; time-and-level-of-use (TLOU)
Categories
Funding
- NSERC Energy Storage Technology Network
- NSERC-Hydro-Quebec-Schneider Electric Industrial Research Chair on Optimization for Smart Grids
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The Time-and-Level-of-Use (TLOU) system is a recently developed approach for electric energy pricing, extending Time-of-Use with an energy capacity that customers can book in advance for a given consumption time. We define a bilevel optimization model for determining the pricing parameters of TLOU, maximizing the supplier revenue while anticipating an optimal reaction of the customer. A solution approach is built, based on the discrete finite set of optimality candidates of the lower-level customer problem.
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