Optimal Power Flow Considering Time of Use and Real-Time Pricing Demand Response Programs

TL;DR

This paper investigates how time-based demand response programs, including time of use and real-time pricing, influence the 24-hour operational costs of power systems, using the IEEE 14-bus test system for simulation.

Contribution

It introduces an analysis of the impact of different demand response participation levels on power system operation costs, highlighting the role of DR in system management.

Findings

DR programs reduce operational costs under various participation levels

Time of use and real-time pricing significantly influence system efficiency

Simulation results demonstrate the effectiveness of DR in cost optimization

Abstract

In recent years, the implementation of the demand response (DR) programs in the power systems scheduling and operation is increased. DR is used to improve the consumers' and power providers economic condition. That said, optimal power flow is a fundamental concept in the power system operation and control. The impact of exploiting DR programs in the power management of the systems is of significant importance. In this paper, the effect of time-based DR programs on the cost of 24-hour operation of a power system is presented. The effect of the time of use and real-time pricing programs with different participation factors are investigated. In addition, the systems operation cost is studied to analyze the DR programs' role in the current power grids. For this aim, the 14-bus IEEE test system is used to properly implement and simulate the proposed approach.