Agent-Based Electricity Market Simulation With Demand Response From Commercial Buildings

Abstract

With the development of power system deregulation and smart metering technologies, price-based demand response (DR) becomes an alternative solution to improving power system reliability and efficiency by adjusting the load profile. In this paper, we simulate an electricity market with DR from different types of commercial buildings by using agent-based modeling and simulation (ABMS) techniques. We focus on the consumption behavior of commercial buildings with different levels of DR penetration in different market structures. The results indicate that there is a noticeable impact from commercial buildings with price-responsive demand on the electricity market, and this impact differs with different scales of DR participation under different levels of market competitions.