Long-Term Market Equilibrium in Smart Grid Paradigm With Introducing Demand Response Provider in Competition


With introducing demand response supplier (DRP) in smart grid paradigm, tiny consumers can actively participate in varied demand response programs, particularly price-based mostly programs. This newly important matter can considerably affect the Power System problems, like growth planning. Accordingly, consideration of small consumers via DRP in long-term market equilibrium will be notably useful. This paper proposes a bi-level game framework with iterating between master and slave level to find the long-term market equilibrium within the pool-primarily based market, together with opponent generation corporations (GenCos), DRP, and independent system operator (ISO). Within the master level, a group of investment choices are generated. Then, the system information is updated and also the market is cleared in the slave level. Once evaluating all decision-creating choices, the ISO selects the most effective possibility based mostly on a tradeoff analysis. The proposed methodology is examined on a system with one DRP and two GenCos underneath ISOs supervision.

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