TY - GEN
T1 - Regional demand-supply management based on dynamic pricing in multi-period energy market
AU - Okawa, Yoshihiro
AU - Namerikawa, Toru
N1 - Publisher Copyright:
© 2015 IEEE.
PY - 2015/2/8
Y1 - 2015/2/8
N2 - This paper deals with a regional demand response method based on dynamic electricity pricing in a multi-period energy market. In the proposed method, first, the power demand and supply in each area are determined considering power flow using the retail and wholesale electricity prices in a day-ahead market. Next, to adjust for power deviations caused by errors in power generation, our proposed method solves the problem of optimal allocation between power demand reduction by consumers and increased power supply from balancing generators in a real-time market. This paper also shows a distributed algorithm for obtaining the optimal values of each market player in both the day-ahead and real-time markets, and finally, numerical simulation results demonstrate the effectiveness of the proposed method.
AB - This paper deals with a regional demand response method based on dynamic electricity pricing in a multi-period energy market. In the proposed method, first, the power demand and supply in each area are determined considering power flow using the retail and wholesale electricity prices in a day-ahead market. Next, to adjust for power deviations caused by errors in power generation, our proposed method solves the problem of optimal allocation between power demand reduction by consumers and increased power supply from balancing generators in a real-time market. This paper also shows a distributed algorithm for obtaining the optimal values of each market player in both the day-ahead and real-time markets, and finally, numerical simulation results demonstrate the effectiveness of the proposed method.
KW - Generators
KW - ISO
KW - Power demand
KW - Power grids
KW - Pricing
KW - Real-time systems
UR - http://www.scopus.com/inward/record.url?scp=84962013243&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84962013243&partnerID=8YFLogxK
U2 - 10.1109/CDC.2015.7403355
DO - 10.1109/CDC.2015.7403355
M3 - Conference contribution
AN - SCOPUS:84962013243
T3 - Proceedings of the IEEE Conference on Decision and Control
SP - 7201
EP - 7206
BT - 54rd IEEE Conference on Decision and Control,CDC 2015
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - 54th IEEE Conference on Decision and Control, CDC 2015
Y2 - 15 December 2015 through 18 December 2015
ER -