Title Maximal Daily Social Welfare through Demand Side Management in the Day-Ahead Electricity Market
External publication Si
Means International Conference on the European Energy Market
Scope Proceedings Paper
Nature Científica
Web https://www.scopus.com/inward/record.uri?eid=2-s2.0-85055536845&doi=10.1109%2fEEM.2018.8469920&partnerID=40&md5=18e7b5074caf276a8b2a9adbf3d2b4b1
Publication date 01/01/2018
ISI 000482771100132
Scopus Id 2-s2.0-85055536845
DOI 10.1109/EEM.2018.8469920
Abstract The day-ahead electricity market is composed of demand and supply orders. Once market participants have sent their orders, the market clearing algorithm decides the accepted and rejected orders, according to the principle of social welfare maximization. This paper proposes the maximization of daily social welfare through demand side management (DSM), modeled as flexible demand orders per time interval. For that purpose, a linear programming model is implemented whose objective function maximizes the daily social welfare following the balance and the demand side management constraints. A test case over 24 hours shows three strategies through a new price order. These strategies are as follows: the new price order is equal to, higher or lower than the price of the original demand order. Some conclusions are also drawn with respect to the social welfare and the consequences for the suppliers.
Keywords Day-ahead electricity market; demand side management; flexible demand order; linear problem; social welfare
Universidad Loyola members

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