PROJECT TITLE :

Long-Term Market Equilibrium in Smart Grid Paradigm With Introducing Demand Response Provider in Competition

ABSTRACT:

With introducing demand response supplier (DRP) in smart grid paradigm, tiny consumers can actively participate in varied demand response programs, particularly price-based mostly programs. This newly important matter can considerably affect the power system problems, like growth planning. Accordingly, consideration of small consumers via DRP in long-term market equilibrium will be notably useful. This paper proposes a bi-level game framework with iterating between master and slave level to find the long-term market equilibrium within the pool-primarily based market, together with opponent generation corporations (GenCos), DRP, and independent system operator (ISO). Within the master level, a group of investment choices are generated. Then, the system information is updated and also the market is cleared in the slave level. Once evaluating all decision-creating choices, the ISO selects the most effective possibility based mostly on a tradeoff analysis. The proposed methodology is examined on a system with one DRP and two GenCos underneath ISOs supervision.