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Advancements in smart grid technologies have made it possible to apply various options and strategies for the optimization of demand response (DR) in electricity markets. DR aggregation would accumulate potential DR schedules and constraints offered by small- and medium-sized customers for the participation in wholesale electricity markets. Despite various advantages offered by the hourly DR in electricity markets, practical market tools that can optimize the economic options available to DR aggregators and market participants are not readily attainable. In this context, this paper presents an optimization framework for the DR aggregation in wholesale electricity markets. The proposed study... 

This paper presents a hierarchical demand response (DR) bidding framework in the day-ahead energy markets which integrates customer DR preferences and characteristics in the ISO's market clearing process. In the proposed framework, load aggregators submit aggregated DR offers to the ISO which would centrally optimize final decisions on aggregators' DR contributions in wholesale markets. The hourly load reduction strategies include load shifting and curtailment and the use of onsite generation and energy storage systems. The ISO applies mixed-integer linear programming (MILP) to the solution of the proposed DR model in the day-ahead market clearing problem. The proposed model is implemented... 

Advancements in smart grid technologies have made it possible to apply various options and strategies for the optimization of demand response (DR) in electricity markets. DR aggregation would accumulate potential DR schedules and constraints offered by small- and medium-sized customers for the participation in wholesale electricity markets. Despite various advantages offered by the hourly DR in electricity markets, practical market tools that can optimize the economic options available to DR aggregators and market participants are not readily attainable. In this context, this paper presents an optimization framework for the DR aggregation in wholesale electricity markets. The proposed study...