Abstract
This paper presents a new approach for the evaluation of locational marginal prices (LMPs) considering demand-side bidding (DSB) in a competitive electricity market. The stabilization of the electric power supply and demand balance is one of the major important activities in electric power industry. In this paper, we present an analytical method for calculation of LMPs considering DSB, which has opportunity to compete with generating units, as England & Wales Pool's DSB scheme Also, we propose a new approach that the LMP with DSB is divided into three components. The proposed approach can be used for evaluation of DSB in the electricity market and for assessment of the influence of DSB on total production costs and LMPs.
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