A novel real time pricing scheme for demand response in residential distribution systems

Abstract

Price based technique is one way to handle increase in peak demand and deal with voltage violations in residential distribution systems. This paper proposes an improved real time pricing scheme for residential customers with demand response option. Smart meters and in-home display units are used to broadcast the price and appropriate load adjustment signals. Customers are given an opportunity to respond to the signals and adjust the loads. This scheme helps distribution companies to deal with overloading problems and voltage issues in a more efficient way. Also, variations in wholesale electricity prices are passed on to electricity customers to take collective measure to reduce network peak demand. It is ensured that both customers and utility are benefitted by this scheme.

Energy efficient home with price sensitive stochastically programmable TCAs

“…11. Definition of states for cost of energy consumption RTP variation defined as in [15] is used in this process. It is a reflection of wholesale price in the Australian energy Market Operators.…”

“…Reward Function: Accurate definition of reward is vital because it plays an important role in decision making. r xy Aq R and it is computed as in (15). Ratio of state changing from S x to S y is considered as the initial component.…”

Algorithm for optimal real-time pricing based on switched Markov chain models

“…In this paper, we focus on real-time pricing of electricity, which is one of the key strategies in demand response. A real-time pricing system of electricity is a system that charges different electricity prices for different hours of the day and for different days, and is effective for reducing the peak and flattening the load curve (see, e.g., [2], [4], [11], [12], [13]). A real-time pricing system is a kind of feedback control systems, and some results from the viewpoint of control theory have been obtained so far (see, e.g., [4], [11]).…”

“…A real-time pricing system is a kind of feedback control systems, and some results from the viewpoint of control theory have been obtained so far (see, e.g., [4], [11]). However, in many cases, the price at each time is given by a simple function with respect to power consumption, voltage deviation, and so on (see, e.g., [13]). In order to realize more precisely pricing, it is necessary to use a mathematical model of consumers.…”

Modeling and Design of Real-Time Pricing Systems Based on Markov Decision Processes

“…In this paper, we focus on real-time pricing systems of electricity. A real-time pricing system of electricity is a system that charges different electricity prices for different hours of the day and for different days, and is effective for reducing the peak and flattening the load curve (see, e.g., [3]- [6]). In general, a real-time pricing system consists of one controller deciding the price at each time and multiple electric customers such as commercial facilities and homes.…”