Real -Time Pricing Design Considering Uncertainty of Renewable Energy Resources and Thermal Loads in Smart Grids

In this paper, a novel real time pricing design is presented for Demand Response (DR) programs. A Load Serving Entity (LSE) is responsible to provide energy for flexible loads, inflexible loads and thermal loads. The LSE consider operation conditions of system and uncertainty of renewable energy resources and it designs a Real Time Price (RTP) demand response. The inflexible and thermal loads cannot participate in this model and the costumers who using these loads, pay their costs according to the retail market price. On other hand, the flexible loads can be participated in this proposed model. It’s assumed that flexible loads of customers are aggregated by several aggregators which took part in this model. The advantage of proposed model is that it ensures cost saving for customers. Numerical results show that proposed model increases LSE’s profit, decreases the costumer’s payment and improves characteristics load curve such as load factor. The presented model is formulated as a bi level program which it maximize the profit of the LSE and utility of the customers. This problem is solved by using GAMS software.