By Topic

Factoring the price elasticity of demand in the optimal power flow

Sign In

Cookies must be enabled to login.After enabling cookies , please use refresh or reload or ctrl+f5 on the browser for the login options.

Formats Non-Member Member
$31 $13
Learn how you can qualify for the best price for this item!
Become an IEEE Member or Subscribe to
IEEE Xplore for exclusive pricing!
close button

puzzle piece

IEEE membership options for an individual and IEEE Xplore subscriptions for an organization offer the most affordable access to essential journal articles, conference papers, standards, eBooks, and eLearning courses.

Learn more about:

IEEE membership

IEEE Xplore subscriptions

2 Author(s)
Jadid, S. ; Electr. Eng. Dept., Iran Univ. of Sci. & Technol. (IUST), Tehran ; Amoli, N.A.

In the traditional optimal power flow, demand sensitivity to price changes is assumed zero but in the new competitive environment, it is necessary to assume that demand is elastic and will vary as a function of price. In this paper, inclusion of price elasticity of demand into the optimal power flow is investigated. It analyzes the effect that the price responsive loads can have on the market operation. These loads can be modeled in the MATPOWER environment. The paper evaluates price elasticity effects on the consumers, generating companies, merchandising surplus, power system security and system operation cost. It shows that the consumers participation in the electricity market can reduce the electricity price that results in enhancing social welfare. These concepts are illustrated using a six-bus system, and numerical results obtained with the IEEE 14- bus system are used to verify the benefits of price responsive loads.

Published in:

Power Engineering Conference, 2007. IPEC 2007. International

Date of Conference:

3-6 Dec. 2007