Retailer Participation in Demand Response ExchangeMarket

There are many independent players, such as transmission system owner (TSO), distributors, retailers, and aggregators, who benefit from demand response(DR). DR can be treated as a tradable good to be exchanged between DR buyers and sellers in a demand response exchange (DRX) scheme. DR buyers want toimprove the reliability of their own electricitydependent businesses and systems. Sellers of DR have the capacity to significantly modify electricity demand.There is a demand response exchange operator (DRXO), which collects DR offers and bids from the buyers and sellers. A novel approach has been presented for retailer bidding in a DRX market. In the proposed approach, at the first step, the retailer should forecastthe load and price in the energy market. A simplified model which can be used instead of complex ones for forecasting is proposed. At the next step, retailerparticipation procedure in a DRX market is defined based on the hourly price and load models. The proposed scheme is tested on California and Spain markets. The results show the efficiency and accuracy of the proposed approach

Keywords:

Demand response exchange , load and price hourly model , retailer bidding