Optimal Day-Ahead Decision-Making Scheduling of Multiple Interruptible Load Schemes for Retailer With Price Uncertainties

The interruptible load contract is a flexible and reliable resource that can help retailers reduce market risk in the form of an option contract. However, the mechanism of IL contract price formation and the representation of value are rarely considered in the study of interruptible load contracts, which helps reduce the contract price. It is studied in the paper that the optimal decisions by retailer in the day-ahead spot market under multiple types of interruptible load contracts. Four IL contracts are proposed considering the possibility of consumers' participation in demand response at different periods. The uncertain spot price is simulated by the stochastic scenario method, and a model for retailer's decision under multiple contracts is proposed by Conditional Value-at-risk assessment to maximize the expected profit. The presented model is a mixed-integer nonlinear programming problem, which is solved by CPLEX solver of GAMS software. The feasibility of the given decision strategy is verified through the numerical results.