DOI:10.1007/s40565-017-0270-7 |
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Agent-based simulation for symmetric electricity market considering price-based demand response |
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Author:
Ziqing JIANG1, Qian AI1
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Author Affiliation:
1 Department of Electrical Engineering, Shanghai Jiao Tong University, Shanghai 200240, China
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Foundation: |
This work is supported by National Natural Science Foundation of China (No. 51577115) and the Ministry of
Industry and Information Technology of the People’s Republic of China (No. 2016YFB0901302). We also give our sincere thanks to Prof. Yang LI, Southeast University, Jiangsu, China, for his valuable
advice on the research of this manuscript. |
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Abstract: |
With the development of electricity market mechanism and advanced metering infrastructure (AMI), demand response has become an important alternative solution to improving power system reliability and efficiency. In this paper, the agent-based modelling and simulation method is applied to explore the impact of symmetric market mechanism and demand response on electricity market. The models of market participants are established according to their behaviors. Consumers’ response characteristics under time-of-use (TOU) mechanism are also taken into account. The level of clearing price and market power are analyzed and compared under symmetric and asymmetric market mechanisms. The results indicate that the symmetric mechanism could effectively lower market prices and avoid monopoly. Besides, TOU could apparently flatten the overall demand curve by enabling customers to adjust their load profiles, which also helps to reduce the price. |
Keywords: |
Agent-based simulation, Demand response, Electricity market, Trading mechanism |
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Online Time:2017/09/15 |
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