Demand Response Contract Management Model

Pedro Nel Ovalle; Jose Vuelvas; Arturo Fajardo; Carlos Correa; Fredy Ruiz

doi:10.1109/ISGT-Europe54678.2022.9960527

Demand Response Contract Management Model

Pedro Nel Ovalle
, Jose Vuelvas
, Arturo Fajardo
, Carlos Correa
, Fredy Ruiz

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

Abstract

In this paper, it is claimed that a Demand Response (DR) program, appealing to smaller users, is economically advantageous for an aggregator engaging in both types of wholesale market This is obtained by formulating a profit maximization model of a DR aggregator, which includes consumers linked through direct and indirect control contracts. The conclusions are supported by simulations of different market price scenarios, considering consumer decision-making behavior. The development of the DR aggregator management model includes the interaction with three different instances, two of them corresponding to the wholesale electricity market, in addition to its interaction with consumers, through a portfolio of different contracts.The model corresponds to the solution of a bi-level optimization problem.This work combines various contract types into a single management model, including indirect control contracts where the management of the aggregator depends on consumer behavior.

Original language	English
Title of host publication	Proceedings of 2022 IEEE PES Innovative Smart Grid Technologies Conference Europe, ISGT-Europe 2022
Publisher	IEEE Computer Society
ISBN (Electronic)	9781665480321
DOIs	https://doi.org/10.1109/ISGT-Europe54678.2022.9960527
State	Published - 2022
Event	2022 IEEE PES Innovative Smart Grid Technologies Conference Europe, ISGT-Europe 2022 - Novi Sad, Serbia Duration: 10 Oct 2022 → 12 Oct 2022

Publication series

Name	IEEE PES Innovative Smart Grid Technologies Conference Europe
Volume	2022-October

Conference

Conference	2022 IEEE PES Innovative Smart Grid Technologies Conference Europe, ISGT-Europe 2022
Country/Territory	Serbia
City	Novi Sad
Period	10/10/22 → 12/10/22

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 12 Responsible Consumption and Production

Keywords

Consumer Behavior
Demand Response
Electricity Market
Incentives
Mechanisms

Access to Document

10.1109/ISGT-Europe54678.2022.9960527

Cite this

Ovalle, P. N., Vuelvas, J., Fajardo, A., Correa, C., & Ruiz, F. (2022). Demand Response Contract Management Model. In Proceedings of 2022 IEEE PES Innovative Smart Grid Technologies Conference Europe, ISGT-Europe 2022 (IEEE PES Innovative Smart Grid Technologies Conference Europe; Vol. 2022-October). IEEE Computer Society. https://doi.org/10.1109/ISGT-Europe54678.2022.9960527

@inproceedings{d72c0b5f1e064155962045032224e721,

title = "Demand Response Contract Management Model",

abstract = "In this paper, it is claimed that a Demand Response (DR) program, appealing to smaller users, is economically advantageous for an aggregator engaging in both types of wholesale market This is obtained by formulating a profit maximization model of a DR aggregator, which includes consumers linked through direct and indirect control contracts. The conclusions are supported by simulations of different market price scenarios, considering consumer decision-making behavior. The development of the DR aggregator management model includes the interaction with three different instances, two of them corresponding to the wholesale electricity market, in addition to its interaction with consumers, through a portfolio of different contracts.The model corresponds to the solution of a bi-level optimization problem.This work combines various contract types into a single management model, including indirect control contracts where the management of the aggregator depends on consumer behavior.",

keywords = "Consumer Behavior, Demand Response, Electricity Market, Incentives, Mechanisms",

author = "Ovalle, \{Pedro Nel\} and Jose Vuelvas and Arturo Fajardo and Carlos Correa and Fredy Ruiz",

note = "Publisher Copyright: {\textcopyright} 2022 IEEE.; 2022 IEEE PES Innovative Smart Grid Technologies Conference Europe, ISGT-Europe 2022 ; Conference date: 10-10-2022 Through 12-10-2022",

year = "2022",

doi = "10.1109/ISGT-Europe54678.2022.9960527",

language = "English",

series = "IEEE PES Innovative Smart Grid Technologies Conference Europe",

publisher = "IEEE Computer Society",

booktitle = "Proceedings of 2022 IEEE PES Innovative Smart Grid Technologies Conference Europe, ISGT-Europe 2022",

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}

Ovalle, PN, Vuelvas, J , Fajardo, A, Correa, C & Ruiz, F 2022, Demand Response Contract Management Model. in Proceedings of 2022 IEEE PES Innovative Smart Grid Technologies Conference Europe, ISGT-Europe 2022. IEEE PES Innovative Smart Grid Technologies Conference Europe, vol. 2022-October, IEEE Computer Society, 2022 IEEE PES Innovative Smart Grid Technologies Conference Europe, ISGT-Europe 2022, Novi Sad, Serbia, 10/10/22. https://doi.org/10.1109/ISGT-Europe54678.2022.9960527

Demand Response Contract Management Model. / Ovalle, Pedro Nel; Vuelvas, Jose ; Fajardo, Arturo et al.
Proceedings of 2022 IEEE PES Innovative Smart Grid Technologies Conference Europe, ISGT-Europe 2022. IEEE Computer Society, 2022. (IEEE PES Innovative Smart Grid Technologies Conference Europe; Vol. 2022-October).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

TY - GEN

T1 - Demand Response Contract Management Model

AU - Ovalle, Pedro Nel

AU - Vuelvas, Jose

AU - Fajardo, Arturo

AU - Correa, Carlos

AU - Ruiz, Fredy

PY - 2022

Y1 - 2022

N2 - In this paper, it is claimed that a Demand Response (DR) program, appealing to smaller users, is economically advantageous for an aggregator engaging in both types of wholesale market This is obtained by formulating a profit maximization model of a DR aggregator, which includes consumers linked through direct and indirect control contracts. The conclusions are supported by simulations of different market price scenarios, considering consumer decision-making behavior. The development of the DR aggregator management model includes the interaction with three different instances, two of them corresponding to the wholesale electricity market, in addition to its interaction with consumers, through a portfolio of different contracts.The model corresponds to the solution of a bi-level optimization problem.This work combines various contract types into a single management model, including indirect control contracts where the management of the aggregator depends on consumer behavior.

AB - In this paper, it is claimed that a Demand Response (DR) program, appealing to smaller users, is economically advantageous for an aggregator engaging in both types of wholesale market This is obtained by formulating a profit maximization model of a DR aggregator, which includes consumers linked through direct and indirect control contracts. The conclusions are supported by simulations of different market price scenarios, considering consumer decision-making behavior. The development of the DR aggregator management model includes the interaction with three different instances, two of them corresponding to the wholesale electricity market, in addition to its interaction with consumers, through a portfolio of different contracts.The model corresponds to the solution of a bi-level optimization problem.This work combines various contract types into a single management model, including indirect control contracts where the management of the aggregator depends on consumer behavior.

KW - Consumer Behavior

KW - Demand Response

KW - Electricity Market

KW - Incentives

KW - Mechanisms

UR - https://www.scopus.com/pages/publications/85143787577

U2 - 10.1109/ISGT-Europe54678.2022.9960527

DO - 10.1109/ISGT-Europe54678.2022.9960527

M3 - Conference contribution

AN - SCOPUS:85143787577

T3 - IEEE PES Innovative Smart Grid Technologies Conference Europe

BT - Proceedings of 2022 IEEE PES Innovative Smart Grid Technologies Conference Europe, ISGT-Europe 2022

PB - IEEE Computer Society

T2 - 2022 IEEE PES Innovative Smart Grid Technologies Conference Europe, ISGT-Europe 2022

Y2 - 10 October 2022 through 12 October 2022

ER -

Demand Response Contract Management Model

Abstract

Publication series

Conference

UN SDGs

Keywords

Access to Document

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