Title :
Optimal demand response based on time-correlated utility in forward power markets
Author :
Sebasti?n Montes de Oca;Pablo Belzarena;Pablo Monz?n
Author_Institution :
Facultad de Ingenier?a, Universidad de la Rep?blica, Montevideo, Uruguay
Abstract :
This paper is concerned with integration of demand response from small loads such as residential small appliance into forward electricity market. We use a simple model and formulate the problem as a dynamic program that maximizes social welfare. We focus particularly in those electric appliances with intertemporal consumption constraint. The satisfaction of end-users from operating them are captured through a utility function, which is also time-correlated. We pursued Lagrange decomposition in order to solve the high complexity problem optimization of the complete system. The main purpose is to optimally schedule a day in advance Local Service Entity´s (LSE) procurement and final-users consumption in the forward electricity market.
Keywords :
"Home appliances","Batteries","Power demand","Electricity supply industry","Real-time systems","Smart grids","Load management"
Conference_Titel :
Innovative Smart Grid Technologies Latin America (ISGT LATAM), 2015 IEEE PES
DOI :
10.1109/ISGT-LA.2015.7381222