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- W2369158596 abstract "Incentive compensation methods are employed in many countries around the world to encourage customers to participate in the demand response programs.Two compensation methods are considered,one is to pay consumers the wholesale price for the demand reduction in peak load period,and the other is to pay consumers the difference between the wholesale price and the retail price for the demand reduction in peak load period.Mathematic formulation and numerical simulation are conducted,and the effects of different compensation methods on the profits of consumers and generators,as well as the social welfare,are compared and analyzed.It is shown that the compensation with the wholesale price leads to over reduction in peak load and thus the social welfare is lowered.The compensation with the difference between the wholesale and the retail prices is a relatively efficient method in demand response programs under the current circumstances where the real-time pricing in the retail market is still difficult to implement." @default.
- W2369158596 created "2016-06-24" @default.
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- W2369158596 date "2010-01-01" @default.
- W2369158596 modified "2023-09-23" @default.
- W2369158596 title "Comparison of incentive compensation methods in power demand response" @default.
- W2369158596 hasPublicationYear "2010" @default.
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