Optimal bidding strategy of electricity retailer inpower market for energy procurement of consumersconsidering demand response program

In restructured power markets, the electricityretailer try to obtain consumers electricity demand at minimumcost from different resources such as distributed generation (DG)units, bilateral contracts and pool market purchase. Therefore,the obtaining optimal bidding strategy for retailers is importantto purchase electric energy from different markets with thelowest cost to obtain maximum profit. Hence more attention hasbeen made on demand response programs (DRP) which aims toelectricity procurement cost reduction. This paper develops anoptimal bidding strategy for electricity retailer for energyprocurement of consumers by multiple options with consideringdemand response program (DRP). Also, this paper is focused tostudy the effect of DRP on total energy procurement cost, wherethe time-of-use (TOU) demand response programs have beenmodeled and consequently its influence on load profile andconsumer demand has been discussed. Actually a new frameworkusing demand response program is presented for retailerprocurement cost reduction. A detailed analysis is utilized todelineate proposed optimal bidding strategy.

کلیدواژه ها:

Demand response program (DRP) ، electricityretailer ، energy procurement ، optimal bidding strategy ، time-ofuse (TOU) program