Market models and optimization techniques to support the decision-making on demand response for prosumers

Silva, Walquiria N.; Henrique, Letícia Fritz; Silva, A.F.P. da C.; Dias, Bruno H.; Soares, Tiago

doi:10.1016/j.epsr.2022.108059

Cited by 17 publications

(2 citation statements)

References 95 publications

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“…Due to the obvious peak and valley characteristics of customers' electricity consumption, the above game may not be able to utilize electricity efficiently, even if the Nash equilibrium is reached. The demand-side response is a better choice for the power seller to promote the rational use of electricity and gain additional revenue [42][43][44]. The authors of [45] reviewed the current optimal decision-making techniques applied in energy markets and proposed a market model based on the demand response of producers and sellers.…”

Section: Research On the Trading Model Of Each Subject In The Electri...mentioning

confidence: 99%

Decision on Mixed Trading between Medium- and Long-Term Markets and Spot Markets for Electricity Sales Companies under New Electricity Reform Policies

Wang

Zhao

2022

Energies

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The introduction of the new round of electricity reform policies has made the electricity sales companies’ trading environment increasingly complex. In the medium- and long-term market and spot market, following the new policy-oriented optimization of trading decisions is the focus of electricity sales companies. The main objective of this study is to consider the impact of the latest policies of China’s current electricity reform on each subject of electricity trading and to propose a method for electricity sales companies to make optimal decisions on renewable energy source (RES) power and conventional energy source (CES) power mixed with power trading in the medium- and long-term and spot markets to improve the efficiency of electricity market trading, promoting the consumption of renewable energy and helping the synergistic development of the electricity market and the tradable green certificate (TGC) market. This paper first discusses the impact of the new electricity reform policies on the transactions of various subjects in the electricity market and constructs the model of the consumer utility function, the profit model of an electricity sales company, and the profit model of power generators with energy storage. Considering the complex power supply and demand relationship among the various subjects of the electricity market, a game model is established for the decision on mixed trading between the medium- and long-term market, the spot market, and the tradable green certificate market to minimize the comprehensive power purchase cost of an electricity sales company. To reduce the decision-making risk caused by the uncertainty of spot price, the prophet model is used to predict the spot price; finally, through the analysis of the decision-making model of the electricity sales companies, the optimal transaction decisions of the electricity sales companies in different trading periods and different scenarios are solved. The test results show that the proposed model can significantly improve the profitability of the electricity sales companies and provide a decision-making reference for electricity sales companies to participate in the medium- and long-term market and spot market.

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Section: Research On the Trading Model Of Each Subject In The Electri...mentioning

confidence: 99%

Decision on Mixed Trading between Medium- and Long-Term Markets and Spot Markets for Electricity Sales Companies under New Electricity Reform Policies

Wang

Zhao

2022

Energies

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“…Today, in many places, consumers can make a choice and decide where to get their kilowatt-hours. Increasingly, consumers become prosumers, selling the excess of their electricity back to the grid (Kesting & Bliek 2013;Silva et al 2022) or showing other strong decentralization patterns, such as microgrids (Soshinskaya et al 2014;Warneryd et al 2020) or nano-grids (Burmester et al 2017). The main idea under these concepts is to reduce the long-distance transmission lines delivering power from large generators to consumers and put the production of the electricity closer to the point of use, increasing e ciency and creating a robust system by reducing the number and length of power outages (Cao et al 2016).…”

Section: Introductionmentioning

confidence: 99%

Decentralized Renewable Energy Integration in the Urban Energy Markets: A System Dynamics Approach

Rozhkov

2024

Preprint

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The ongoing transition in energy systems, driven by factors such as renewable energy adoption, data quality improvement, and grid decentralization, holds promise for addressing climate change and advancing environmental justice. This shift towards decentralized energy production, including prosumer engagement and microgrids, aims to reduce transmission losses and enhance grid resilience. Utilities are also adapting, transitioning to renewable sources, and integrating with existing grids. However, the policy and urban planning aspects of this transition have received limited attention. This research employs system dynamics modeling to explore various scenarios, from traditional utility-centered approaches to urban planning-driven customer choices, in achieving a climate-neutral energy system within 50 years. The study underscores the importance of comprehensive energy policies, socio-economic benefits, carbon reduction, and customer engagement. With highlighting potential solutions, it suggests avenues for future research to support the transition towards cleaner, more sustainable electricity solutions in regions like northern Illinois (USA).

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Optimization of Demand Response

Badar

Arya²,

Oliva³

2022

Engineering Applications of Modern Metaheuristics

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Market models and optimization techniques to support the decision-making on demand response for prosumers

Cited by 17 publications

References 95 publications

Decision on Mixed Trading between Medium- and Long-Term Markets and Spot Markets for Electricity Sales Companies under New Electricity Reform Policies

Decision on Mixed Trading between Medium- and Long-Term Markets and Spot Markets for Electricity Sales Companies under New Electricity Reform Policies

Decentralized Renewable Energy Integration in the Urban Energy Markets: A System Dynamics Approach

Optimization of Demand Response

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