Modeling and Optimal Pricing of Time-Based Demand Response Programs in Competitive Retail Market
Publish place: The first international conference of modern research engineers in electricity and computer
Publish Year: 1395
نوع سند: مقاله کنفرانسی
زبان: English
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شناسه ملی سند علمی:
CBCONF01_0725
تاریخ نمایه سازی: 16 شهریور 1395
Abstract:
The current study makes a model of interaction between the retailer and customer using demand response programs in order to maximize the retailer’s benefit and gain customer’s satisfaction through investigation of customer’s reaction. Additionally, using two pricing models including Time of Use (TOU) and Real Time Pricing (RTP), it is suggested to retail companies to maximize their benefit which results from participation in energy market and selling energy to the final customer with optimal use and implementation of energy pricing plans for its customers. To do this, optimal prices of TOU and RTP obtained from solving an optimization problem by means of Q-Learning algorithm. Moreover, the effect of implementing these pricing programs on the benefit of retail company will be analyzed. Finally, the results will be compared and discussed.
Keywords:
q-learning algorithm (QL) , demand response program , time of use pricing (TOU) , real time pricing (RTP)
Authors
Fariba Bina
Department of Electrical Engineering, Young Researchers and Elite Club, Borujerd Branch Islamic Azad University, Borujerd, Iran
Mehdi Nikzad
Department of Electrical Engineering, Islamshahr Branch Islamic Azad University, Tehran, Iran
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