Demand response program in Singapore’s wholesale electricity market
Singapore is going to implement a demand response (DR) program to further enhance the efficiency and competitiveness of its electricity market. This paper aims to provide an in-depth investigation of this DR program which features demand side bidding and incentive payments. First, the current market...
| Main Authors: | , , , , , |
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| Other Authors: | |
| Format: | Journal Article |
| Language: | English |
| Published: |
2016
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| Online Access: | https://hdl.handle.net/10356/84569 http://hdl.handle.net/10220/41888 |
| _version_ | 1811695053804929024 |
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| author | Zhou, Shengfeng Shu, Zhen Gao, Yue Gooi, Hoay Beng Chen, Shuaixun Tan, Kelvin |
| author2 | School of Electrical and Electronic Engineering |
| author_facet | School of Electrical and Electronic Engineering Zhou, Shengfeng Shu, Zhen Gao, Yue Gooi, Hoay Beng Chen, Shuaixun Tan, Kelvin |
| author_sort | Zhou, Shengfeng |
| collection | NTU |
| description | Singapore is going to implement a demand response (DR) program to further enhance the efficiency and competitiveness of its electricity market. This paper aims to provide an in-depth investigation of this DR program which features demand side bidding and incentive payments. First, the current market clearing model (MCM) of Singapore’s existing wholesale market, which has no demand side bidding, is introduced. A mathematical model of the MCM is formulated to explain and solve the current market clearing process, where the energy and ancillary services are settled simultaneously through a form of auction pricing. Second, the mechanism of how the demand side bidding is incorporated into the current MCM is explained, with an emphasis on the demand side offer and the newly introduced constraints. A modified MCM with DR is then formulated. Third, the incentive payment mechanism intended to promote DR participation is elaborated. Numerical analysis is performed to demonstrate how the current MCM and MCM with DR work, as well as how the incentive payment is settled. Various numerical case studies are carried out to discuss the economic benefits from participating in the DR program. |
| first_indexed | 2024-10-01T07:17:21Z |
| format | Journal Article |
| id | ntu-10356/84569 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T07:17:21Z |
| publishDate | 2016 |
| record_format | dspace |
| spelling | ntu-10356/845692020-03-07T13:57:28Z Demand response program in Singapore’s wholesale electricity market Zhou, Shengfeng Shu, Zhen Gao, Yue Gooi, Hoay Beng Chen, Shuaixun Tan, Kelvin School of Electrical and Electronic Engineering Singapore electricity market Market clearing model (MCM) Singapore is going to implement a demand response (DR) program to further enhance the efficiency and competitiveness of its electricity market. This paper aims to provide an in-depth investigation of this DR program which features demand side bidding and incentive payments. First, the current market clearing model (MCM) of Singapore’s existing wholesale market, which has no demand side bidding, is introduced. A mathematical model of the MCM is formulated to explain and solve the current market clearing process, where the energy and ancillary services are settled simultaneously through a form of auction pricing. Second, the mechanism of how the demand side bidding is incorporated into the current MCM is explained, with an emphasis on the demand side offer and the newly introduced constraints. A modified MCM with DR is then formulated. Third, the incentive payment mechanism intended to promote DR participation is elaborated. Numerical analysis is performed to demonstrate how the current MCM and MCM with DR work, as well as how the incentive payment is settled. Various numerical case studies are carried out to discuss the economic benefits from participating in the DR program. Accepted version 2016-12-19T08:19:58Z 2019-12-06T15:47:25Z 2016-12-19T08:19:58Z 2019-12-06T15:47:25Z 2017 Journal Article Zhou, S., Shu, Z., Gao, Y., Gooi, H. B., Chen, S., & Tan, K. (2017). Demand response program in Singapore’s wholesale electricity market. Electric Power Systems Research, 142, 279-289. 0378-7796 https://hdl.handle.net/10356/84569 http://hdl.handle.net/10220/41888 10.1016/j.epsr.2016.09.022 en Electric Power Systems Research © 2016 Elsevier B. V. This is the author created version of a work that has been peer reviewed and accepted for publication by Electric Power Systems Research, Elsevier B. V. It incorporates referee’s comments but changes resulting from the publishing process, such as copyediting, structural formatting, may not be reflected in this document. The published version is available at: [http://dx.doi.org/10.1016/j.epsr.2016.09.022]. 10 p. application/pdf |
| spellingShingle | Singapore electricity market Market clearing model (MCM) Zhou, Shengfeng Shu, Zhen Gao, Yue Gooi, Hoay Beng Chen, Shuaixun Tan, Kelvin Demand response program in Singapore’s wholesale electricity market |
| title | Demand response program in Singapore’s wholesale electricity market |
| title_full | Demand response program in Singapore’s wholesale electricity market |
| title_fullStr | Demand response program in Singapore’s wholesale electricity market |
| title_full_unstemmed | Demand response program in Singapore’s wholesale electricity market |
| title_short | Demand response program in Singapore’s wholesale electricity market |
| title_sort | demand response program in singapore s wholesale electricity market |
| topic | Singapore electricity market Market clearing model (MCM) |
| url | https://hdl.handle.net/10356/84569 http://hdl.handle.net/10220/41888 |
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