Analysis of Electricity Market Model with Demand Response in Distribution Network

Sekizaki, Shinya; Nishizaki, Ichiro; Hayashida, Tomohiro

doi:10.1541/ieejeiss.135.292

Cited by 7 publications

(14 citation statements)

References 18 publications

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“…Retailers purchase a set amount of power at a set price from forward contracts, and any surplus or deficiency is adjusted for on the day‐ahead market, the price of which fluctuates in an uncertain manner. In this paper, we assume TOU pricing in which the electricity price is divided into 48 terms, but it is possible to deal with fixed prices (as in prior studies) by partially modifying the constraint equations …”

Section: Power Trading Model In Competitive Environmentmentioning

confidence: 99%

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A development of an equilibrium analysis model between electricity retailers under competitive environment

Sekizaki

Nishizaki

Hayashida

2019

Electrical Engineering Japan

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This paper provides a novel equilibrium model for analyzing behaviors of the electric retailers under competitive environment. In the deregulated electricity retail market, the retailers purchase the electricity power and sell it to consumers at the competitive prices. According to their risk attitudes, the retailers optimize the selling prices and the purchase allocation between a day-ahead market and forward contracts. Without the regulation, an equilibrium by those selfish decision-making processes of multiple retailers would cause an adverse impact on the electricity market and also the power system. From stable and economical viewpoints, it is important to analyze the unfavorable equilibrium. The selfish behaviors of retailers are modeled as an equilibrium problem with equilibrium constraints in this paper and formulated as a mixed integer linear programming problem to obtain a generalized Nash equilibrium by commercial solvers efficiently. Through computational examples, the proposed model and formulation are validated. K E Y W O R D Selectricity retail market, equilibrium model, equilibrium problem with equilibrium constraints, retailer 24

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Section: Power Trading Model In Competitive Environmentmentioning

confidence: 99%

“…In the power transaction model discussed in Section 2, in cases in which the consumer makes peak cuts or peak shifts in response to the electricity price, the retailer and the consumer can, respectively, be modeled as the leader and the follower of a Stackelberg game …”

Section: Formulationmentioning

confidence: 99%

A development of an equilibrium analysis model between electricity retailers under competitive environment

Sekizaki

Nishizaki

Hayashida

2019

Electrical Engineering Japan

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“…Thus, the total cost shows a V-shaped trend of declining firstly and ascending then. According to Table 4, there should exist an optimum point located in the interval of $ (10,15). To present the total cost trend, a few more data points are extracted every $0.5 from $10 to $15 for calculating the total cost.…”

Section: Effect Of Dr On Operation Without Reliability Measuresmentioning

confidence: 99%

“…Furthermore, with the increasing wind capacity integrated into the power grid, it is hardly realistic to coordinate the conventional units for dispatch invariably. Demand response (DR), as an effective means for load scheduling, plays an important role in the electricity market [9][10][11]. Therefore, a novel method on the unit commitment should be developed considering DR and reliability measures due to the errors of prediction on the load and wind power, as well as generation outages.…”

Section: Introductionmentioning

confidence: 99%

An Optimal Dispatch Model of Wind-Integrated Power System Considering Demand Response and Reliability

Ding

Zheng

2017

Sustainability

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Demand response (DR) has become an impressive option in the deregulated power system due to its features of availability, quickness and applicability. In this paper, a novel economic dispatch model integrated with wind power is proposed, where incentive-based DR and reliability measures are taken into account. Compared with the conventional models, the proposed model considers customers' power consumption response to the incentive price. The load profile is optimized with DR to depress the influence on the dispatch caused by the anti-peak-shaving and intermittence of wind generation. Furthermore, a probabilistic formulation is established to calculate the expected energy not supplied (EENS). This approach combines the probability distribution of the forecast errors of load and wind power, as well as the outage replacement rates of units into consideration. The cost of EENS is added into the objective to achieve an optimal equilibrium point between economy and reliability of power system operation. The proposed model is solved by mixed integer linear programming (MILP). The applicability and effectiveness of this model is illustrated by numerical simulations tested on the IEEE 24-bus Reliability Test System. Sustainability 2017, 9, 758 2 of 20 with a certain proportion of the forecast load or the maximum capacity of the operating units. This deterministic means has left out multiple uncertainties, such as the wind forecast error, the load forecast error, and the forced outage rate of units [12,13]. During recent years, the stochastic assessment of the spinning reserve has been applied in many articles [14][15][16]. With this approach, the spinning reserve is optimized to satisfy the expected energy not supplied (EENS). In [17], a triangular approximate distribution model is used to quantify EENS due to the stochastic feature of wind. Then, a security-constrained unit commitment algorithm is proposed to schedule conventional units and wind generation considering probabilistic forecast models of wind power. Another day-head scheduling model involving reliability criteria is described in [18]. EENS is calculated with the historical outage replacement rates of generators or lines. MILP is utilized to deal with the proposed model. In [19], the forecast errors of both wind power and load are supposed to follow normal distributions. These errors are discretized into several intervals for a new formulation of reliability measures. In [20,21], a two-stage stochastic problem is formulated to address various uncertainties in the system, such as wind power, solar generation, loads and even electric vehicles. The sample average approximation, which is a Monte Carlo simulation technique, is utilized to deal with uncertainties for scenario generation purposes. These works have integrated the system with distribution-free uncertainties, but given a rise to the computational burden.As an effective way for peak load shedding and shaving, DR has been widely investigated in the electricity market. Consuming wind power with DR will re...

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“…12,14,[21][22][23] The power procured from forward contracts does not necessarily match real demand, and as such, any imbalance is adjusted for on the day-ahead market. In Section 4, we present analysis results of our proposed model using numerical calculation examples and, finally, in Section 5, we summarize our conclusions.…”

Section: Introductionmentioning

confidence: 99%

A Development of an Equilibrium Analysis Model between Electricity Retailers under Competitive Environment

2018

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Analysis of Electricity Market Model with Demand Response in Distribution Network

Cited by 7 publications

References 18 publications

A development of an equilibrium analysis model between electricity retailers under competitive environment

A development of an equilibrium analysis model between electricity retailers under competitive environment

An Optimal Dispatch Model of Wind-Integrated Power System Considering Demand Response and Reliability

A Development of an Equilibrium Analysis Model between Electricity Retailers under Competitive Environment

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