Abstract
Demand Response (DR) programs are being used for a variety of load structure for reducing price/ load volatility and improving overall system reliability. This paper proposes a comprehensive and preferential review of different DR programs such as Price based DR (PBDR), Incentive based DR (IBDR) and a combination of both programs when applied to Iranian power grid with the aim of maximizing customer profit. On the basis of price elasticity of demand, a responsive economic DR model is proposed. Several DR programs are prioritized using Technique for Order Preference by similarity to Ideal Solution (TOPSIS) method and Analytical Hierarchy process (AHP) method is used for determining final priority. Independent System Operator (ISO) perspective, Utility's perspective view and Customer's perspective are considered as decision variables for final priority in AHP method and are given due weightage by entropy method.
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