Short-term valuation of demand response

• Published in: 2012 IEEE Power and Energy Society General Meeting pp. 1 - 8
• Main Authors: Duy Thanh Nguyen, Negnevitsky, M., de Groot, M.
• Format: Conference Proceeding
• Language: English
• Published: IEEE 01-07-2012
• Subjects: Demand Response (DR); DR assessment; DR scheduling schemes; Electricity; Estimation; Generators; Power system reliability; Reliability; reliability assessment; Security; spot price volatility
• ISBN: 1467327271; 9781467327275
• ISSN: 1932-5517
• DOI: 10.1109/PESGM.2012.6344783

This paper proposes a novel assessment framework for estimating short-term financial benefits of demand response (DR) to be delivered to a deregulated power system. First, the framework analyzes DR costs and benefits for participants in a DR market, and for generators and retailers in the electricity trading market. Based on these local analyses, a global evaluation is performed to determine whether the optimized DR can produce a positive social surplus. If so, the DR will be dispatched during the time period under consideration. Case study is given on the Roy Billinton test system (RBTS) to show the usefulness of the proposed assessment framework and to examine its scalability.