Title :
Two Market Models for Demand Response in Power Networks
Author :
Chen, Lijun ; Li, Na ; Low, Steven H. ; Doyle, John C.
Author_Institution :
Eng. & Appl. Sci. Div., California Inst. of Technol., Pasadena, CA, USA
Abstract :
In this paper, we consider two abstract market models for designing demand response to match power supply and shape power demand, respectively. We characterize the resulting equilibria in competitive as well as oligopolistic markets, and propose distributed demand response algorithms to achieve the equilibria. The models serve as a starting point to include the appliance-level details and constraints for designing practical demand response schemes for smart power grids.
Keywords :
demand side management; load forecasting; oligopoly; power markets; power system economics; smart power grids; distributed demand response algorithms; oligopolistic markets; power market; power networks; power supply demand; smart power grids; Companies; Electricity; Equations; Games; Load management; Nash equilibrium; Optimization;
Conference_Titel :
Smart Grid Communications (SmartGridComm), 2010 First IEEE International Conference on
Conference_Location :
Gaithersburg, MD
Print_ISBN :
978-1-4244-6510-1
DOI :
10.1109/SMARTGRID.2010.5622076
