A Comprehensive Framework for Retailer’s Financial Policy

This paper presents a comprehensive framework for retailers’ financial policy which includes both electricity and demand response (DR) markets. Due to the existence of uncertainties in market environment, retailers may face with difficulties for purchasing electric energy from suppliers and selling it to their customers. If the selling price is not low enough, customers may choose a rival retailer. Demand Response Programs (DRPs) are introduced as a useful measure to mitigate a part of risks associated with these uncertainties. In this paper, a decision making framework is proposed which allows retailers to concurrently participate in energy market as well as the Demand Response Exchange (DRX) market to maximize their expected profit. This framework incorporates the elastic behavior of customers with respect to the electricity prices. Performance of the proposed approach is investigated through numerical studies using the Spain market data. The results show the efficiency and advantage of the proposed methodology.

کلیدواژه ها:

Contract design ، Demand response exchange market ، Electricity market ، Retailer’s financial policy