A Data-Driven Bidding Model for a Cluster of Price-Responsive Consumers of Electricity

@article{SaezGallego2015ADB,
  title={A Data-Driven Bidding Model for a Cluster of Price-Responsive Consumers of Electricity},
  author={Javier Saez-Gallego and Juan Miguel Morales and Marco Zugno and Henrik Madsen},
  journal={IEEE Transactions on Power Systems},
  year={2015},
  volume={31},
  pages={5001-5011}
}
This paper deals with the market-bidding problem of a cluster of price-responsive consumers of electricity. We develop an inverse optimization scheme that, recast as a bilevel programming problem, uses price-consumption data to estimate the complex market bid that best captures the price-response of the cluster. The complex market bid is defined as a series of marginal utility functions plus some constraints on demand, such as maximum pick-up and drop-off rates. The proposed modeling approach… CONTINUE READING

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