1 Department of Applied Mathematics and Computer Science, Technical University of Denmark2 Dynamical Systems, Department of Applied Mathematics and Computer Science, Technical University of Denmark3 Department of Informatics and Mathematical Modeling, Technical University of Denmark4 Department of Electrical Engineering, Technical University of Denmark
In a real-time electricity pricing context where consumers are sensitive to varying prices, having the ability to anticipate their response to a price change is valuable. This paper proposes models for the dynamics of such price-response, and shows how these dynamics can be used to control electricity consumption using a one-way price signal. Estimation of the price-response is based on data measurable at grid level, removing the need to install sensors and communication devices between each individual consumer and the price-generating entity. An application for price-responsive heating systems is studied based on real data, before conducting a control by price experiment using a mixture of real and synthetic data. With the control objective of following a constant consumption reference, peak heating consumption is reduced by nearly 5%, and 11% of the mean daily heating consumption is shifted.
I E E E Transactions on Power Systems, 2013, Vol 28, Issue 1, p. 421-430
Adaptive estimation; Control by price; Demand forecasting; Predictive control; Price-response; Real-time pricing