Trading Mechanism Design for Demand Response Resources Participating in Electricity Spot Market

Abstract

In order to further promote the construction of the electricity spot market in China, it is the future trend of operating on the market-oriented trading mode, in which both power generators and customer loads could participate together and compete with each other fairly. It is well known that the demand response can effectively improve the economy of power system as well as the efficiency of market operation by guiding load customers to adjust their power consumption patterns and participate in the electricity market more actively. Considering the construction of the electricity spot market in China, this paper proposed a trading mechanism for demand response resources participating in the electricity spot market, and then proposed the corresponding bidding and clearing model. Finally, the trading mechanism and clearing model proposed in this paper are tested through the IEEE RTS-24 system, which verifies their practicability and effectiveness.