NDLI: Multi-objective bi-level optimisation to design real-time pricing for demand response programs in retail markets

Content Provider	IET Digital Library
Author	Karimi, Hamid Jadid, Shahram Saboori, Hedayat
Abstract	Electric energy consumption is progressively increased requiring new investments in the network to meet. Demand response programs (DRPs) are of practical tools to defer and/or decrease these investments. In this study, a real-time DRP is proposed to promote consumer participation in the energy delivery. The proposed DRP is designed on behalf of the Load Serving Entity (LSE) and aims to maximise its profit. The LSE purchases energy from the up-stream wholesale market and offers to the consumers in the retail market. The consumers, with the objective of maximising the profit, have the choice to purchase energy from the retail market or the LSE. The problem is formulated as a mixed integer linear bi-level programming model wherein LSE and aggregators, on behalf of the consumers, act as the leader and followers of the problem. Also, to avoid creating a new peak profile in light load periods promoted by the designed LSE prices, the upper level problem is tailored as a multi-objective formulation wherein flattening load profile in addition to the maximising LSE profit is considered. The proposed model is implemented on a test case and the results show that the both LSE and consumers benefit is increased with a smoother load profile.
Starting Page	1287
Ending Page	1296
Page Count	10
ISSN	17518687
Volume Number	13
e-ISSN	17518695
Issue Number	Issue 8, Apr (2019)
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/iet-gtd/13/8
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/10.1049/iet-gtd.2018.6123
Journal	IET Generation, Transmission & Distribution
Publisher Date	2018-12-10
Access Restriction	Open
Rights Holder	© The Institution of Engineering and Technology
Subject Keyword	Behalf Consumer Participation Consumers Benefit Demand Response Programs Demand Side Management Designed LSE Prices Electric Energy Consumption Energy Delivery Integer Programming Investments Light Load Periods Linear Programming Load Serving Entity LSE Purchases Energy Maximising LSE Profit Mixed Integer Linear Bi-level Programming Model Multiobjective Bi-level Optimisation Multiobjective Formulation Optimisation Optimisation Technique Power Market Power System Economics Power System Managemen Power System Operation Practical Tool Pricing Real-time DRP Real-time Pricing Retail Market Retailing Smoother Load Profile Upper Level Problem Wholesale Market
Content Type	Text
Resource Type	Article
Subject	Control and Systems Engineering Energy Engineering and Power Technology Electrical and Electronic Engineering

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

Energy pricing and demand scheduling in retail market: how microgrids’ integration affects the market

Critical peak pricing with load control demand response program in unit commitment problem

Optimal pricing strategy of power-retailing companies considering demand response in block bidding markets

Optimal wind energy bidding strategies in real-time electricity market with multi-energy sources

Optimal bidding strategy of electricity retailers using robust optimisation approach considering time-of-use rate demand response programs under market price uncertainties

Robust optimisation approach for bidding strategy of renewable generation-based microgrid under demand side management

A bilayer interaction strategy for air-conditioning load aggregators considering market-based demand response

Bilevel approach for optimal location and contract pricing of distributed generation in radial distribution systems using mixed-integer linear programming

Towards a fully integrated market for demand response, energy and reserves

Multi-objective bi-level optimisation to design real-time pricing for demand response programs in retail markets

Similar Documents

Energy pricing and demand scheduling in retail market: how microgrids’ integration affects the market

Critical peak pricing with load control demand response program in unit commitment problem

Optimal pricing strategy of power-retailing companies considering demand response in block bidding markets

Optimal wind energy bidding strategies in real-time electricity market with multi-energy sources

Optimal bidding strategy of electricity retailers using robust optimisation approach considering time-of-use rate demand response programs under market price uncertainties

Robust optimisation approach for bidding strategy of renewable generation-based microgrid under demand side management

A bilayer interaction strategy for air-conditioning load aggregators considering market-based demand response

Bilevel approach for optimal location and contract pricing of distributed generation in radial distribution systems using mixed-integer linear programming

Towards a fully integrated market for demand response, energy and reserves

Multi-objective bi-level optimisation to design real-time pricing for demand response programs in retail markets