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A Minimal Incentive-Based Demand Response Program With Self Reported Baseline Mechanism | IEEE Journals & Magazine | IEEE Xplore

A Minimal Incentive-Based Demand Response Program With Self Reported Baseline Mechanism


Abstract:

In this paper, we propose a novel incentive based Demand Response (DR) program with a self reported baseline mechanism. The System Operator (SO) managing the DR program r...Show More

Abstract:

In this paper, we propose a novel incentive based Demand Response (DR) program with a self reported baseline mechanism. The System Operator (SO) managing the DR program recruits consumers or aggregators of DR resources. The recruited consumers are required to only report their baseline, which is the minimal information necessary for any DR program. During a DR event, a set of consumers, from this pool of recruited consumers, are randomly selected. The consumers are selected such that the required load reduction is delivered. The selected consumers, who reduce their load, are rewarded for their services and other recruited consumers, who deviate from their reported baseline, are penalized. The randomization in selection and penalty ensure that the baseline inflation is controlled. We also justify that the selection probability can be simultaneously used to control SO's cost. This allows the SO to design the mechanism such that its cost is almost optimal when there are no recruitment costs or at least significantly reduced otherwise. Finally, we also show that the proposed method of self-reported baseline outperforms other baseline estimation methods commonly used in practice.
Published in: IEEE Transactions on Smart Grid ( Volume: 11, Issue: 3, May 2020)
Page(s): 2195 - 2207
Date of Publication: 24 October 2019

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