MODELING DEMAND-PRICE CURVE: A CLUSTERING APPROACH TO DERIVE DYNAMIC ELASTICITY FOR DEMAND RESPONSE PROGRAMS

摘要

Demand Side Management (DSM) refers to a set of measures that aim at modifying the energy demand in periods where the cost of generated electricity is high or the stability of the grid is jeopardized. The pillars of demand side management are energy efficiency and demand response. Energy efficiency refers to a set of measures that refer to the replacement of the equipment of electricity consumption or lowering the losses of the existing. The aim is to provide the same energy services to the consumers under the less energy consumption. Demand Response (DR) includes as set of actions that target on the modification of demand using efficient resources such as deferrable loads, economic programs, incentives and others. Price-based DR programs aim to the modification of energy consumption patterns through a set of tariff schemes such as time-of-use rates, real time pricing and others. Based on contracts between the retailer and consumers, a special tariff is offered to the consumers that reflects more accurately the cost of generated electricity in the day-ahead market. The consumers` response to the offered price is modeled via various demand-price curves. A key factor that defines the level of adaption of the offered price is the elasticity that reflects the flexibility of the demand. In the majority of DR programs, the elasticity is regarded a constant value within the day. This approach does not accurately represent the potential of altering the demand pattern in hourly basis. The scope of this study is to present a novel method to dynamic elasticity curves. Under this concept, the elasticity receives different values and hence, a more robust design, implementation and assessment of DR programs can take place.