Title :
The role of correlated prices in demand response: A robust optimization approach
Author :
Ferreira, R.S. ; Barroso, L.-A. ; Carvalho, M.M. ; Kelman, R. ; Lino, P.R. ; Valenzuela, P.
Author_Institution :
PSR, Rio de Janeiro, Brazil
Abstract :
The use of robust optimization techniques for scheduling consumption in a demand response context is analyzed in this paper, with aid of results from a particular case study, in which energy prices of different time periods are highly correlated. Results indicate that it is of great importance to employ a solution approach that correctly models the correlation among prices of different periods over which consumption is to be scheduled. One such approach is proposed and investigated in this paper, with positive results.
Keywords :
optimisation; power markets; pricing; scheduling; correlated prices; demand response; energy prices; robust optimization; Correlation; Data models; Electricity; Energy consumption; Load management; Optimization; Robustness; Demand response; correlated price data; principal component analysis; robust optimization;
Conference_Titel :
Innovative Smart Grid Technologies (ISGT Latin America), 2011 IEEE PES Conference on
Conference_Location :
Medellin
Print_ISBN :
978-1-4577-1802-1
DOI :
10.1109/ISGT-LA.2011.6083191
