Optimal Demand Bidding for Time-Shiftable Loads


Time-shiftable loads have recently received an increasing attention thanks to their role in creating load flexibility and enhancing demand response and peak-load shaving programs. In this paper, we have a tendency to get to answer the subsequent question: how can a time-shiftable load, that itself may comprise of several smaller time-shiftable subloads, submit its demand bids to the day-ahead and real-time markets therefore as to minimize its energy procurement cost? Answering this question is challenging as a result of of the inter-temporal dependencies in selecting the demand bids for time-shiftable masses and because of the coupling between demand bid selection and time-shiftable load scheduling issues. Nevertheless, we tend to answer the above question for various sensible bidding scenarios and primarily based on different statistical characteristics of practical market prices. In all cases, closed-form solutions are obtained for the optimal selections of the value and energy bids. The bidding performance is then evaluated in details by examining many case studies and analyzing actual market worth data.

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