Abstract
Demand response (DR) can be used to improve the efficiency of electricity markets and increase the reliability of power systems. As more utilities attempt to reduce the purchasing costs by implementing DR programs strategically, there is an increasing need for studies of how to allocate the reduced purchasing costs among DR program participants. The rebates or incentives can be given to DR program participants in proportion to the participants' contributions to the reduced purchasing costs. This paper presents Shapley Value-based method to determine the DR program participants' contributions, to the reduced purchasing costs. A numerical example is presented to validate the effectiveness of the proposed method.
| Original language | English |
|---|---|
| Pages (from-to) | 2354-2358 |
| Number of pages | 5 |
| Journal | Transactions of the Korean Institute of Electrical Engineers |
| Volume | 58 |
| Issue number | 12 |
| Publication status | Published - 2009 Dec 1 |
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Keywords
- Demand response
- Electricity purchase cost
- Load shifting
- Shapley value
ASJC Scopus subject areas
- Electrical and Electronic Engineering
Cite this
Kim, J. H., Wi, Y. M., & Joo, S-K. (2009). Shapley value-based method for calculating the contribution of retail customers participating in demand response program. Transactions of the Korean Institute of Electrical Engineers, 58(12), 2354-2358.