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Pool-Based Demand Response Exchange—Concept and Modeling

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3 Author(s)
Duy Thanh Nguyen ; Centre for Renewable Energy & Power Syst. (CREPS), Univ. of Tasmania, Hobart, TAS, Australia ; Negnevitsky, M. ; de Groot, M.

In restructured power systems, there are many independent players who benefit from demand response (DR). These include the transmission system operator (TSO), distributors, retailers, and aggregators. This paper proposes a new concept-demand response eXchange (DRX)-in which DR is treated as a public good to be exchanged between DR buyers and sellers. Buyers need DR to improve the reliability of their own electricity-dependent businesses and systems. Sellers have the capacity to significantly modify electricity demand on request. Microeconomic theory is applied to model the DRX in the form of a pool-based market. In this market, a DRX operator (DRXO) collects DR bids and offers from the buyers and sellers, respectively. It then clears the market by maximizing the total market benefit subject to certain constraints including: demand-supply balance, and assurance contracts related to individual buyer contributions for DR. The DRX model is also tested on a small power system, and its efficiency is reported.

Published in:

Power Systems, IEEE Transactions on  (Volume:26 ,  Issue: 3 )