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In this era of advanced distribution automation technologies, demand response is becoming an important tool for electricity network management. The available flexible loads can efficiently help in alleviating the network constraints and achieving demand-supply balance. Therefore, this forms the rationale behind this paper, which aims to implement a multi-agent system framework in order to achieve flexible price-based demand response. A genetic algorithm-based multi-objective optimization technique is applied to determine the optimal locations and the amount of required demand reduction in order to keep the network within statutory limits. The methodology is based on probabilistic estimation of the granularity of total available flexible demand from shiftable home appliances in each low-voltage feeder. Moreover, an optimal decision making for the start time of appliances upon receiving a real-time price signal is proposed. This is accomplished by considering the willingness to participate as well as price demand elasticity of the different clusters of customers. To fully demonstrate the feasibility and effectiveness of the proposed framework, a modified IEEE 69 bus distribution network comprising 1824 low voltage residential customers has been implemented and analyzed.

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