NDLI: A new wholesale bidding mechanism for enhanced demand response in smart grids

Content Provider	IEEE Xplore Digital Library
Author	Wang, J. Kennedy, S. Kirtley, J.
Copyright Year	2010
Description	Author affiliation: Massachusetts Institute of Technology, Cambridge, 02139 USA (Wang, J.; Kirtley, J.) \|\| Masdar Institute of Science and Technology, Abu Dhabi, UAE (Kennedy, S.)
Abstract	Calls to improve customer participation as a key element of smart grids have reinvigorated interest in demand-side features such as distributed generation, on-site storage and demand response. In the context of deregulated market structures, these features can improve flexibility of demand, but at the cost of added uncertainty. Therefore, how to implement these features under deregulated power markets is worth consideration. To address the problems induced by the demand-side participation features together with deregulated electricity markets, this paper presents a new bidding mechanism, which uses Price Elasticity Matrices (PEM) to model the concerned features. Three typical traditional bidding mechanisms are reviewed and compared with the proposed bidding mechanism. This paper also presents an algorithm guaranteeing better convergence to carry out the proposed bidding mechanism. The concept of a stepped supply curve's relative slope is defined in the algorithm. Multiple benefits induced are shown by numerical examples in a day-ahead wholesale electricity pool under real-time pricing.
Starting Page	1
Ending Page	8
File Size	1326548
Page Count	8
File Format	PDF
ISBN	9781424462643
e-ISBN	9781424462667
e-ISBN	9781424463336
DOI	10.1109/ISGT.2010.5434766
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2010-01-19
Publisher Place	USA
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Costs Uncertainty Deregulated electricity market Elasticity Price elasticity matrix Electricity supply industry deregulation Demand response Economic dispatch Smart grid Convergence Bidding mechanism Distributed control Load management Electricity supply industry Power markets Smart grids Market equilibrium
Content Type	Text
Resource Type	Article

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