Day-Ahead Bidding Strategy of Load Aggregators Based on Incentive Demand Response
- Resource Type
- Conference
- Authors
- Tan, Huijuan; Zhao, Ruifeng; Lu, Jiangang; Guo, Wenxin; Hu, Chunchao; Zeng, Mengdi
- Source
- 2023 3rd Power System and Green Energy Conference (PSGEC) Power System and Green Energy Conference (PSGEC), 2023 3rd. :369-374 Aug, 2023
- Subject
- Aerospace
Computing and Processing
Power, Energy and Industry Applications
Robotics and Control Systems
Signal Processing and Analysis
Transportation
Economics
Energy consumption
Companies
Electricity supply industry
Demand response
Filling
Power systems
Load aggregator
demand response
bidding strategy
electricity market
- Language
Load aggregators (LAs) play a crucial role in demand response (DR) programs by enabling large energy consumers to participate in the electricity market. Incentive demand response is a type of DR that motivates consumers to reduce their energy consumption by providing them with economic incentives. This paper proposes a day-ahead bidding strategy for LAs, which allows them to optimize their bidding decisions in response to the price signals provided by the market operator. To validate the effectiveness of the proposed strategy, simulation experiments are conducted on a realistic power system model. Therefore, the proposed strategy can be used as a useful tool for LAs to participate in incentive demand response and maximize their economic benefits.