Optimal Demand Response Scheduling Based on Retailer Profit Maximization for Customer Utility Using Exchange Market Algorithm

This paper proposes a demand response (DR)program based on the retailer profit and customers utility. The utility of the consumer is calculated with respect of the electricityprice and consumer behavior against variation of incentive. The Real-Time Price (RTP) is applied for calculation of the retailer profit and consumers utility. The consumer comfort model is developed to determine the consumer welfare. Consumer welfare proposes the load consumption scheduling for consumption management to maximize customer’s benefits and consumers comfort. The load consumption scheduling needs the information of DR, household and comfort level. The Exchange Market Algorithm (EMA) is utilized. Numerical results are indicated the advantages of using the proposed model and benefits for retailer. The proposed algorithm is designed to manage the household loads based on consumers’ define comfort level and certain level of load. The results show the effectiveness of the DRP in maximizing the household's daily customer’s benefits while preserving comfort level. Also it shows an increase in retailer profit and decrease in electricity bill to customers, which is desirable for both retailer and customers.

Keywords:

Consumer utility , customer profit , demand response , demand-price elasticity , exchange market algorithm (EMA) , retailer profit.