Paper Info
Title
An Integrated eVoucher Mechanism for Flexible Loads in Real-Time Retail Electricity Market.
Abstract
This paper proposes an innovative economic and engineering coupled framework to encourage typical flexible loads or load aggregators, such as parking lots with high penetration of electric vehicles, to participate directly in the real-time retail electricity market based on an integrated eVoucher program. The integrated eVoucher program entails demand side management, either in the positive or negative direction, following a popular customer-centric design principle. It provides the extra economic benefit to end-users and reduces the risk associated with the wholesale electricity market for electric distribution companies (EDCs), meanwhile improving the potential resilience of the distribution networks with consideration for frequency deviations. When implemented, the eVoucher program allows typical flexible loads, such as electric vehicle parking lots, to adjust their demand and consumption behavior according to financial incentives from an EDC. A distribution system operator (DSO) works as a third party to hasten negotiations between such parking lots and EDCs, as well as the price clearing process. Eventually, both electricity retailers and power system operators will benefit from the active participation of the flexible loads and energy customers.
Year
DOI
Venue
2017
10.1109/ACCESS.2017.2659704
IEEE ACCESS
Keywords
Field
DocType
Retail electricity market,hybrid price scheme,customer-centric principle
Electricity market,Load management,Psychological resilience,Stand-alone power system,Electricity,Computer science,Electric vehicle,Clearing,Electricity retailing,Environmental economics,Distributed computing
Journal
Volume
ISSN
Citations 
5
2169-3536
0
PageRank 
References 
Authors
0.34
13
4
Name
Order
Citations
PageRank
Tao Chen1163.09
Hajir Pourbabak2132.82
Zheming Liang321.44
Wencong Su425427.89