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Dynamic Pricing for Demand Response Considering Market Price Uncertainty

2017-08Journal article Open access
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dc.contributor.authorFotouhi Ghazvini, Mohammad
dc.contributor.authorSoares, João
dc.contributor.authorMorais, Hugo
dc.contributor.authorCastro, Rui
dc.contributor.authorVale, Zita
dc.date.accessioned2017-09-05T14:50:57Z
dc.date.available2017-09-05T14:50:57Z
dc.date.issued2017-08
dc.description.abstractRetail energy providers (REPs) can employ different strategies such as offering demand response (DR) programs, participating in bilateral contracts, and employing self-generation distributed generation (DG) units to avoid financial losses in the volatile electricity markets. In this paper, the problem of setting dynamic retail sales price by a REP is addressed with a robust optimization technique. In the proposed model, the REP offers price-based DR programs while it faces uncertainties in the wholesale market price. The main contribution of this paper is using a robust optimization approach for setting the short-term dynamic retail rates for an asset-light REP.With this approach, the REP can decide how to participate in forward contracts and call options. They can also determine the optimal operation of the self-generation DG units. Several case studies have been carried out for a REP with 10,679 residential consumers. The deterministic approach and its robust counterpart are used to solve the problem. The results show that, with a slight decrease in the expected payoff, the REP can effectively protect itself against price variations. Offering time-variable retail rates also can increase the expected profit of the REPs.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.doi10.3390/en10091245pt_PT
dc.identifier.urihttp://hdl.handle.net/10400.22/10250
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherMDPIpt_PT
dc.relationH2020 DREAM-GO 641794pt_PT
dc.relationInstituto de Engenharia de Sistemas e Computadores, Investigação e Desenvolvimento em Lisboa
dc.relationSMART POWER SYSTEM OPERATION UNDER UNCERTAINTY IN SHORT-TERM ELECTRICITY MARKETS
dc.relation.ispartofseriesEnergies;Vol.10, Issue 9
dc.relation.publisherversionhttp://www.mdpi.com/1996-1073/10/9/1245pt_PT
dc.subjectCall optionpt_PT
dc.subjectDemand responsept_PT
dc.subjectForward contractpt_PT
dc.subjectRetail electricity providerpt_PT
dc.subjectRobust optimizaitonpt_PT
dc.titleDynamic Pricing for Demand Response Considering Market Price Uncertaintypt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.awardTitleInstituto de Engenharia de Sistemas e Computadores, Investigação e Desenvolvimento em Lisboa
oaire.awardTitleSMART POWER SYSTEM OPERATION UNDER UNCERTAINTY IN SHORT-TERM ELECTRICITY MARKETS
oaire.awardURIinfo:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UID%2FCEC%2F50021%2F2013/PT
oaire.awardURIinfo:eu-repo/grantAgreement/FCT//SFRH%2FBD%2F94688%2F2013/PT
oaire.awardURIinfo:eu-repo/grantAgreement/FCT/5876/UID%2FEEA%2F00760%2F2013/PT
oaire.citation.issue9pt_PT
oaire.citation.startPage1245pt_PT
oaire.citation.titleEnergiespt_PT
oaire.citation.volume10pt_PT
oaire.fundingStream6817 - DCRRNI ID
oaire.fundingStream5876
person.familyNameSoares
person.familyNameMorais
person.familyNameVale
person.givenNameJoão
person.givenNameHugo
person.givenNameZita
person.identifier1043580
person.identifier80878
person.identifier632184
person.identifier.ciencia-id1612-8EA8-D0E8
person.identifier.ciencia-id2010-D878-271B
person.identifier.ciencia-id721B-B0EB-7141
person.identifier.orcid0000-0002-4172-4502
person.identifier.orcid0000-0001-5906-4744
person.identifier.orcid0000-0002-4560-9544
person.identifier.ridA-5824-2012
person.identifier.scopus-author-id35436109600
person.identifier.scopus-author-id21834170800
person.identifier.scopus-author-id7004115775
project.funder.identifierhttp://doi.org/10.13039/501100001871
project.funder.identifierhttp://doi.org/10.13039/501100001871
project.funder.identifierhttp://doi.org/10.13039/501100001871
project.funder.nameFundação para a Ciência e a Tecnologia
project.funder.nameFundação para a Ciência e a Tecnologia
project.funder.nameFundação para a Ciência e a Tecnologia
rcaap.rightsopenAccesspt_PT
rcaap.typearticlept_PT
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