Optimum Generation Scheduling Based Dynamic Price Making for Demand Response in a Smart Power Grid

  • Nikolaos G. Paterakis
  • Ozan Erdinc
  • João P. S. Catalão
  • Anastasios G. Bakirtzis
Part of the IFIP Advances in Information and Communication Technology book series (IFIPAICT, volume 423)

Abstract

Smart grid is a recently growing area of research including optimum and reliable operation of bulk power grid from production to end-user premises. Demand side activities like demand response (DR) for enabling consumer participation are also vital points for a smarter operation of the electric power grid. For DR activities in end-user level regulated by energy management systems, a dynamic price variation determined by optimum operating strategies should be provided aiming to shift peak demand periods to off-peak periods of energy usage. In this regard, an optimum generation scheduling based price making strategy is evaluated in this paper together with the analysis of the impacts of dynamic pricing on demand patterns with case studies. Thus, the importance of considering DR based demand pattern changes on price making strategy is presented for day-ahead energy market structure.

Keywords

Demand response Home energy management Optimal scheduling Real-time pricing 

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Copyright information

© IFIP International Federation for Information Processing 2014

Authors and Affiliations

  • Nikolaos G. Paterakis
    • 1
  • Ozan Erdinc
    • 1
  • João P. S. Catalão
    • 1
    • 2
    • 3
  • Anastasios G. Bakirtzis
    • 4
  1. 1.University of Beira InteriorCovilhãPortugal
  2. 2.INESC-IDLisbonPortugal
  3. 3.ISTUniv. LisbonPortugal
  4. 4.Aristotle University of ThessalonikiGreece

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