Referenced Items are not available for this document.
As electricity markets are liberalized, consumers become exposed to more volatile electricity prices and may decide to modify the profile of their demand to reduce their electricity costs. This paper analyzes the effect that the market structure can have on the elasticity of the demand for electricity. It then describes how the consumers' behavior can be modeled using a matrix of self- and cross-elasticities. It is shown how these elasticities can be taken into consideration when scheduling generation and setting the price of electricity in a pool based electricity market. These concepts are illustrated using a 26-generator system
Published in:
Power Systems, IEEE Transactions on
(Volume:15
,
Issue:
2
)
Date of Publication: May 2000
- Page(s):
- 612 - 617
- ISSN :
- 0885-8950
- INSPEC Accession Number:
- 6719342
- Digital Object Identifier :
- 10.1109/59.867149
- Product Type:
- Journals & Magazines
- Date of Current Version :
- 06 August 2002
- Issue Date :
- May 2000
- Sponsored by :
- IEEE Power & Energy Society
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