The study of demand response programs for economic dispatch in multiple time steps

The study of demand response programs for economic dispatch in multiple time steps

This project investigates the application of Demand Response (DR) within an electricity market model. Many existing studies make use of piecewise linear curve fitting for a simplified representation of demand and supply bids in the network. By using quadratic generator cost functions and consumer be...

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Bibliographic Details
Main Author: Eynon, Rachael
Other Authors: Mohasha Sampath
Format: Final Year Project
Language:English
Published: 2018
Subjects:
DRNTU::Engineering::Electrical and electronic engineering::Electric power::Auxiliaries, applications and electric industries
Online Access:http://hdl.handle.net/10356/75414
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Institution: Nanyang Technological University
Language: English
Description
Summary:This project investigates the application of Demand Response (DR) within an electricity market model. Many existing studies make use of piecewise linear curve fitting for a simplified representation of demand and supply bids in the network. By using quadratic generator cost functions and consumer benefit functions, an accurate market model incorporating demand response can be developed. This report presents an evaluation of the effectiveness of demand response within the market model and quantifies the savings that can be made.

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