Residential demand management using individualised demand aware price policies
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Accepted version
Date
2016-08-01
Authors
Hayes, Barry P.
Melatti, Igor
Mancini, Toni
Prodanovic, Milan
Tronci, Enrico
Journal Title
Journal ISSN
Volume Title
Publisher
Institute of Electrical and Electronics Engineers (IEEE)
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Abstract
This paper presents a novel approach to demand side management (DSM), using an “individualized” price policy, where each end user receives a separate electricity pricing scheme designed to incentivize demand management in order to optimally manage flexible demands. These pricing schemes have the objective of reducing the peaks in overall system demand in such a way that the average electricity price each individual user receives is non-discriminatory. It is shown in this paper that this approach has a number of advantages and benefits compared to traditional DSM approaches. The “demand aware price policy” approach outlined in this paper exploits the knowledge, or demand-awareness, obtained from advanced metering infrastructure. The presented analysis includes a detailed case study of an existing European distribution network where DSM trial data was available from the residential end-users.
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Keywords
Demand side management , Load management , Power demand , Electricity price policy , Demand flexibility , Smart meters , Pricing , Substations , Power demand , Load flow control , Electric potential , Economics , Real-time systems
Citation
Hayes, B., Melatti, I., Mancini, T., Prodanovic, M. and Tronci, E. (2017) 'Residential Demand Management Using Individualized Demand Aware Price Policies', IEEE Transactions on Smart Grid, 8(3), pp. 1284-1294. doi: 10.1109/TSG.2016.2596790
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