Research on Demand Response Aggregators Participating in Power Market Based on Bi-level Optimization

Abstract

With the rapid development of smart grid technology, how demand side resources participate in power market has become a research hotspot. This paper proposes a bi-level optimization model for demand side resource aggregators to participate in electricity market transactions. In the bi-level model, the lower level is the wholesale market clearing model aiming at the maximum social benefit, and the upper level is the bidding decision model aiming at the maximum power consumption benefit of air conditioning load. The case study demonstrates the feasibility and effectiveness of the model.