Abstract
Electricity retailer using demand response (DR) programs can reduce their cost in procuring consumers energy. In this chapter, several new demand response schemes are proposed to reduce retailer cost. These new schemes include pool-order DR, forward DR, and reward-base DR. Information gap decision theory (IGDT) technique is proposed to handle the pool market price uncertainty. Furthermore, optimal bidding strategy of electricity retailer is obtained using IGDT technique based on opportunity and robustness functions. Optimal bidding strategy provides stepwise power price in the power price uncertainty condition for submiting to day-ahead market in order to purchase power from pool market. The proposed model based on IGDT technique can be solved using standard Branch and Bound (SBB) solver under GAMS software.
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