Journal article
Strategy-making for a proactive distribution company in the real-time market with demand response
Norwegian University of Science and Technology1
Department of Electrical Engineering, Technical University of Denmark2
Center for Electric Power and Energy, Centers, Technical University of Denmark3
Energy Analytics and Markets, Center for Electric Power and Energy, Centers, Technical University of Denmark4
Argonne National Laboratory5
Southern Methodist University6
This paper proposes a methodology to optimize the trading strategies of a proactive distribution company (PDISCO) in the real-time market by mobilizing the demand response. Each distribution-level demand is considered as an elastic one. To capture the interrelation between the PDISCO and the real-time market, a bi-level model is presented for the PDISCO to render continuous offers and bids strategically.
The upper level problem expresses the PDISCO's profit maximization, while the lower-level problem minimizes the operation cost of the transmission-level real-time market. To solve the proposed model, a primal-dual approach is used to translate this bi-level model into a single-level mathematical program with equilibrium constraints.
Results of case studies are reported to show the effectiveness of the proposed model. (C) 2016 Elsevier Ltd. All rights reserved.
| Language: | English |
|---|---|
| Year: | 2016 |
| Pages: | 540-548 |
| ISSN: | 18729118 and 03062619 |
| Types: | Journal article |
| DOI: | 10.1016/j.apenergy.2016.08.058 |
| ORCIDs: | Wang, Qi |
