Related papers: Contract Design for Energy Demand Response
We explore how Demand Response (DR) can effectively provide electricity system services such as for the management of bi-directional power flows and the control of voltage deviations in active distribution networks, without compromising…
With the advancement in smart grid and smart energy devices, demand response becomes one of the most economic and feasible solutions to ease the load stress of the power grids during peak hours. In this work, we propose a fully…
Demand-side management presents significant benefits in reducing the energy load in smart grids by balancing consumption demands or including energy generation and/or storage devices in the user's side. These techniques coordinate the…
The electricity market is threatened by supply scarcity, which may lead to very sharp price spikes in the spot market. On the other hand, demand-side's activities could effectively mitigate the supply scarcity and absorb most of these…
Optimally scheduling multi-energy flow is an effective method to utilize renewable energy sources (RES) and improve the stability and economy of integrated energy systems (IES). However, the stable demand-supply of IES faces challenges from…
More active participation of the demand side and efficient integration of distributed energy resources (DERs) such as electric vehicles (trVs), energy storage (ES), and renewable energy sources (RESs) into the existing power systems are…
Participating in demand response programs is a promising tool for reducing energy costs in data centers by modulating energy consumption. Towards this end, data centers can employ a rich set of resource management knobs, such as workload…
This paper proposes a novel continuous-time dynamic contract framework that has a risk-limiting capability. If a principal and an agent enter into such a contract, the principal can optimally manage its performance and risk with a guarantee…
In the electricity market, it is quite common that the market participants make "selfish" strategies to harvest the maximum profits for themselves, which may cause the social benefit loss and impair the sustainability of the society in the…
Demand response (DR) plays a critical role in ensuring efficient electricity consumption and optimal use of network assets. Yet, existing DR models often overlook a crucial element, the irrational behaviour of electricity end users. In this…
Electricity usage is a major portion of utility bills and the best place to start lowering them. An effective home energy management approach is introduced to decrease customers' electricity bills by determining the optimal appliance…
One of the major barriers for the retailers is to understand the consumption elasticity they can expect from their contracted demand response (DR) clients. The current trend of DR products provided by retailers are not consumer-specific,…
In this paper, we consider the problem of optimal demand response and energy storage management for a power consuming entity. The entity's objective is to find an optimal control policy for deciding how much load to consume, how much power…
Due to the growing concerns for sustainable development, supply chains seek to invest in social sustainability issues to seize more market share in today's competitive business environment. This study aims to develop a coordination scheme…
Flexibility in electric power consumption can be leveraged by Demand Response (DR) programs. The goal of this paper is to systematically capture the inherent aggregate flexibility of a population of appliances. We do so by clustering…
Demand response provides utilities with a mechanism to share with end users the stochasticity resulting from the use of renewable sources. Pricing is accordingly used to reflect energy availability, to allocate such a limited resource to…
Recently there have been several historical changes in electricity networks that necessitate the development of Demand Side Management (DSM). The main objective of DSM is to achieve an aggregated consumption pattern that is efficient in…
Load-serving entities which procure electricity from the wholesale electricity market to service end-users face significant quantity and price risks due to the volatile nature of electricity demand and quasi-fixed residential tariffs at…
In Demand Response programs, price incentives might not be sufficient to modify residential consumers load profile. Here, we consider that each consumer has a preferred profile and a discomfort cost when deviating from it. Consumers can…
This paper presents an automated peer-to-peer (P2P) negotiation strategy for settling energy contracts among prosumers in a Residential Energy Cooperative (REC) considering heterogeneous prosumer preferences. The heterogeneity arises from…