Optimal Day-Ahead Power Procurement With Renewable Energy and Demand Response

This study proposes the demand-side power procurement problem to optimally reduce consumer's energy cost. The motivation stems from pressing issues on an increase of energy cost in an industrial section. From an energy consumer's perspective, there exists an opportunity to reduce energy co...

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Bibliographic Details
Published in:	IEEE transactions on power systems Vol. 32; no. 5; pp. 3924 - 3933
Main Authors:	Kwon, Soongeol, Ntaimo, Lewis, Gautam, Natarajan
Format:	Journal Article
Language:	English
Published:	New York IEEE 01.09.2017 The Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subjects:	Benders decomposition Consumers Consumption Data centers day-ahead power procurement Decision making demand response Electric utilities Electricity Electricity consumption Electricity pricing Energy consumption Energy management Energy storage Load management Optimization Power consumption Power demand Procurement Real-time systems Renewable energy Renewable energy sources Stochastic processes two-stage stochastic integer programming Variation
ISSN:	0885-8950, 1558-0679
Online Access:	Get full text
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