Maximal daily social welfare through demand side management in the day-ahead electricity market

Agustin A. Sanchez de La Nieta; Madeleine Gibescu

doi:10.1109/EEM.2018.8469920

Maximal daily social welfare through demand side management in the day-ahead electricity market

Agustin A. Sanchez de La Nieta
, Madeleine Gibescu

Electrical Energy Systems

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic › peer-review

2 Citations (Scopus)

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.

Original language	English
Title of host publication	15th International Conference on the European Energy Market, EEM 2018
Place of Publication	Piscataway
Publisher	IEEE Computer Society
ISBN (Electronic)	978-1-5386-1488-4
ISBN (Print)	978-1-5386-1489-1
DOIs	https://doi.org/10.1109/EEM.2018.8469920
Publication status	Published - 20 Sept 2018
Event	15th International Conference on the European Energy Market, EEM 2018 - Lodz, Poland Duration: 27 Jun 2018 → 29 Jun 2018

Conference

Conference	15th International Conference on the European Energy Market, EEM 2018
Country/Territory	Poland
City	Lodz
Period	27/06/18 → 29/06/18

Funding

ACKNOWLEDGMENT This project has received funding in the framework of the joint program initiative ERA-Net Smart Grids Plus. The initiative has received funding from the European Unions Horizon 2020 Research and Innovation programme under grant agreement No 646039.

Keywords

Day-ahead electricity market
Demand side management
Flexible demand order
Linear problem
Social welfare

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10.1109/EEM.2018.8469920

Cite this

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title = "Maximal daily social welfare through demand side management in the day-ahead electricity market",

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",

author = "\{de La Nieta\}, \{Agustin A. Sanchez\} and Madeleine Gibescu",

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publisher = "IEEE Computer Society",

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de La Nieta, AAS & Gibescu, M 2018, Maximal daily social welfare through demand side management in the day-ahead electricity market. in 15th International Conference on the European Energy Market, EEM 2018., 8469920, IEEE Computer Society, Piscataway, 15th International Conference on the European Energy Market, EEM 2018, Lodz, Poland, 27/06/18. https://doi.org/10.1109/EEM.2018.8469920

Maximal daily social welfare through demand side management in the day-ahead electricity market. / de La Nieta, Agustin A. Sanchez; Gibescu, Madeleine.
15th International Conference on the European Energy Market, EEM 2018. Piscataway: IEEE Computer Society, 2018. 8469920.

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic › peer-review

TY - GEN

T1 - Maximal daily social welfare through demand side management in the day-ahead electricity market

AU - de La Nieta, Agustin A. Sanchez

AU - Gibescu, Madeleine

PY - 2018/9/20

Y1 - 2018/9/20

N2 - 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.

AB - 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.

KW - Day-ahead electricity market

KW - Demand side management

KW - Flexible demand order

KW - Linear problem

KW - Social welfare

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M3 - Conference contribution

AN - SCOPUS:85055536845

SN - 978-1-5386-1489-1

BT - 15th International Conference on the European Energy Market, EEM 2018

PB - IEEE Computer Society

CY - Piscataway

T2 - 15th International Conference on the European Energy Market, EEM 2018

Y2 - 27 June 2018 through 29 June 2018

ER -

Maximal daily social welfare through demand side management in the day-ahead electricity market

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Keywords

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