Abstract
An increasing concern in power systems is how to elicit flexibilities in demand, which leads to nontraditional electricity products for accommodating loads of different flexibility levels. We have proposed Multiple-Arrival Multiple-Deadline (MAMD) differentiated energy services for the flexible loads which require constant power for specified durations. Such loads are indifferent to the actual power delivery time as long as the duration requirements are satisfied between the specified arrival times and deadlines. The focus of this paper is the market implementation of such services. In a forward market, we establish the existence of an efficient competitive equilibrium to verify the economic feasibility, which implies that selfish market participants can attain the maximum social welfare in a distributed manner. We also show the strengths of the MAMD services by simulation.
| Original language | English |
|---|---|
| Article number | 108933 |
| Number of pages | 8 |
| Journal | Automatica |
| Volume | 116 |
| Early online date | 14 Mar 2020 |
| DOIs | |
| Publication status | Published - Jun 2020 |
| Externally published | Yes |
Bibliographical note
This paper was recommended for publication in revised form by Associate Editor Francesco Vasca under the direction of Editor Thomas Parisini.Publisher Copyright:
© 2020 Elsevier Ltd
Funding
This work was partially supported by the Research Grants Council of Hong Kong Special Administrative Region, China, under the Theme-Based Research Scheme T23-701/14-N. The material in this paper was partially presented at the 20th IFAC World Congress of the International Federation of Automatic Control, July 9–14, 2017, Toulouse, France.
Keywords
- Competitive equilibrium
- Demand response
- Market implementation
- Smart grid
- Tractable integer programming
