DocumentCode :
3013538
Title :
Optimal implementation strategies for critical peak pricing
Author :
Zhang, Qin ; Wang, Xifan ; Fu, Min
Author_Institution :
Dept. of Electr. Power Eng., Jiaotong Univ., Xi´´an, China
fYear :
2009
fDate :
27-29 May 2009
Firstpage :
1
Lastpage :
6
Abstract :
Critical peak pricing (CPP) is an important means of demand response in electricity markets. As a flexible tariff mechanism, making rational CPP implementation strategies and selecting suitable critical days are crucial to its successful implementation. Based on an analysis of tariff scheme and implementation process of CPP, customer response to CPP is described by a price elasticity matrix of demand, and electricity prices are forecasted by a hybrid electricity price model. Furthermore, a CPP decision model which considers the interests of both customers and load serving entity (LSE) is introduced and then solved by 0-1 integer programming. Numerical results are finally used to prove the effectiveness of the proposed model, which is beneficial to saving customer electricity bills, reducing electricity purchase cost of LSE, hedging against electricity purchasing risk for LSE in wholesale market, and realizing multi-party win.
Keywords :
integer programming; power markets; pricing; critical peak pricing; customer electricity bills; electricity markets; flexible tariff mechanism; hybrid electricity price model; integer programming; load serving entity; optimal implementation strategies; Costs; Economic forecasting; Elasticity; Electricity supply industry; Linear programming; Load management; Power generation economics; Power system dynamics; Predictive models; Pricing; Critical peak pricing (CPP); critical days; demand response; electricity markets; time-of-use (TOU) pricing;
fLanguage :
English
Publisher :
ieee
Conference_Titel :
Energy Market, 2009. EEM 2009. 6th International Conference on the European
Conference_Location :
Leuven
Print_ISBN :
978-1-4244-4455-7
Type :
conf
DOI :
10.1109/EEM.2009.5207139
Filename :
5207139
Link To Document :
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