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Implementation of various incentive-based demand response strategies has great potential to decrease peak load growth and customer electricity bill cost. Using advanced metering and automatic demand management makes it possible to optimize energy consumption, to reduce grid loss, and to release generation capacities for the sake of providing sustainable electricity supply. Executing an incentive-based program is a simple way for customers to monitor and manage their energy consumption, and therefore, to reduce their electricity bill. With these objectives, this paper examines the previously suggested load scheduling programs and proposes a new practical one for residential energy management.... 

Open access to transmission networks as well as designing an efficient cost allocation method are the key points that provide free competition for participants in power market. Restructuring in power systems has created new challenges which emphasize the development and fairness of economical criteria such as pricing of different services in market environment. Besides, the charge of network usage is a controversial subject, itself. To address this problem, many methods for transmission line cost allocation have been proposed. Amongst them, MW-Mile methods are based on the extent of use concept. Inability to take various fixed together with variable imposed costs into account can be... 

This paper proposes a decentralized market-based model for long-term capacity investment decisions in a liberalized electricity market with significant wind power generation. In such an environment, investment and construction decisions are based on price signal feedbacks and imperfect foresight of future conditions in electricity market. System dynamics concepts are used to model structural characteristics of power market such as, long-term firms' behavior and relationships between variables, feedbacks and time delays. For conventional generation units, short-term price feedback for generation dispatching of forward market is implemented as well as long-term price expectation for... 

This paper presents a practical scheme that can be used for allocating the transmission loss to generators and loads. In this scheme first the share of a generator or load on the current through a branch is determined using Z-bus modified matrix. Then the current components are decomposed and the branch loss allocation is obtained. A motivation of proposed scheme is to improve the results of Z-bus method and to reach more fair allocation. The proposed scheme has been implemented and tested on several networks. To achieve practical and applicable results, the proposed scheme is simulated and compared on the transmission network (400kv) of Khorasan region in Iran and the 14-bus standard IEEE... 

Reactive market power assessment is an important issue for ISOs and the regulators of the reactive power market. Due to the localized characteristics of reactive power as a technical support and its monopsonistic nature as an economic commodity, a vivid reactive market power index including market share, demand side and cost is not achieved yet. In this paper, a new reactive market power index is presented which is based on bidding strategy deviation of the GENCOs after establishing a uniform price auction reactive market. Not knowing others' offers to ISO, each unit faces a bidding strategy problem that is solved using game theory. Considering its production costs, the unit uses the... 

The disguise of traditional monopolistic electricity markets into deregulated competitive ones has made 'price forecasting' a crucial strategy for both producers and consumers: for the producers, to maximize their profit and hedge against price volatilities and for the consumers to manage their utility. Electricity price forecasting has thus emerged as a progressive field of study and numerous researches have been conducted to improve and optimize the price forecast methods. This paper proposes a precise and computationally efficient method to perform price forecasting in deregulated power markets. A locally linear neuro-fuzzy model is developed for price forecasting. The model is trained by... 

One of the major problems in liberalized power markets is loss allocation. In this paper, a different method for allocating transmission losses to pool market participants is proposed. The proposed method is fundamentally based on decomposition of loss function and current projection concept. The method has been implemented and tested on several networks and one sample summarized in the paper. The results show that the method is comprehensive and fair to allocating the energy losses of a power market to its participants  

The penetration of wind generation in distribution networks is steadily increasing and may provide ample business opportunities for aggregators. While, residential demand response (DR) has proven to be a feasible economic tool in smart grids, the quantitative evaluation of various aggregator-based DR services is required to tap the maximum benefits from the DR flexibility. This paper provides an overview of benefits of different DR aggregator services such as minimization of energy cost and wind curtailment given the scenario of large wind generation hosted by distribution network. An optimization model is formulated from aggregator perspective to manage the population of heating,... 

In a medium term planning horizon, a retailer should determine its forward contracting and pool participating strategies as well as the selling price to be offered to the customers. Considering a competitive retail electricity market, the number of clients being supplied by any retailer is a function of the selling prices and some other characteristics of all the retailers. This paper presents an equilibrium problem formulation to model the retailer's medium term decision making problem considering the strategy of other retailers. Decision making of any single retailer is formulated as a risk constraint stochastic programming problem. Uncertainty of pool prices and clients' demands is... 

This paper presents a risk-constrained programming approach to solve a retailer's medium-term planning problem. A retailer tries to maximize its profit via determining the optimal price offered to the customers as well as optimal strategy of participating in futures and pool markets. The uncertainty of pool prices is modeled by an envelope-bound information-gap model. Another source of uncertainty in this problem is the clients' demand, which is considered via a scenario generation method. The proposed method is formulated as a bi-level stochastic programming problem based on the information-gap decision theory. The Karush-Kuhn-Tucker optimality conditions are used to convert the bi-level... 

In this paper a reliability, emission, and network security constrained unit commitment (UC) with the focus on wind power integration is formulated. It is shown that clearing both energy and spinning reserve markets taking into account network constraints provides a reliable and economic solution for day-ahead operation planning of a power system with a significant amount of thermal and wind power in the generation portfolio. The developed UC is formulated and implemented in MATLAB. The IEEE 24-Bus Reliability Test System (RTS) is used to verify the UC method by simulation. © 2017 IEEE  

Penetration of renewable energy resources in power systems and their uncertain natures have caused some challenges in a Real-Time Markets (RTMs) such as price forecasting and balancing issues. Independent System Operator's (ISO's) introduced flexible ramp products in RTMs to overcome this problem. In this paper, a novel method is presented for scheduling flexible ramp requirements in RTM considering Demand Response (DR). In this method, net load uncertainty is modeled using robust optimization (RO) technique in which each period is defined by some scenarios and RO is used to model the uncertainty of each scenario. In order to verify the effectiveness of the method, a typical case study is... 

Distribution system operator (DSO) has traditionally been responsible for the reliable operation of power distribution systems. The advent of distributed energy resources (DERs) and microgrids in distribution networks has required a new platform for DSOs. The new DSO, which is for the most part an independent agent, is responsible for aggregating a widely dispersed DERs (which include small thermal generation units, energy storage, and demand response) and flexible loads in electricity markets. DSO coordinates and balances the transactive dispatch of supply and demand at the distribution level and links wholesale and retail electricity markets. In this paper, a framework for the day-ahead... 

This paper presents a new approach for determining the day-ahead bidding strategies of a large-scale hybrid electric energy company. The company has both energy generation and energy retailing businesses in a competitive electricity market. Demand response programs are also considered in the retail side of the company in order to hedge the risk of participation in wholesale market. This paper introduces a max-min bilevel mathematical programming with equilibrium constraint model for offering a strategy that manages the risk of uncertain forecasted rivals' bids by robust optimization. The max-min bilevel model is converted to its equivalent single-level optimization using Karush-Kuhn-Tucker... 

Among the different options available for market clearing mechanisms, offer cost minimisation mechanism is being used in most electric power markets. The payments are then calculated based on locational marginal prices (LMPs). The payments can be significantly higher due to the inconsistency of the clearing and pricing mechanisms. Payment cost minimisation (PCM) mechanism which directly minimises the total payment has been recently proposed to solve this issue. In this study, an auction mechanism is proposed for payment to suppliers minimisation (PSM) based on the LMPs instead of consumers payment minimisation (CPM). Using a proper formulation for the supply side reserve LMPs, the complete...