In order to reduce power consumption and operating cost of power generation units, demand response programs can be considered as an effective and essential tool. As a key component of demand response, real-time pricing (RTP) encourages consumers in an economical and efficient way. In this chapter, RTP scheme is implemented to manage peak load for the power procurement problem of a large consumer. Some part of the required power of the large consumer procured from the pool market and power price in the market has uncertainty. So, the robust optimization method is used to model the uncertainty in the system.
The results of using RTP are presented for a case study, and obtained results are analyzed and compared with deterministic and time-of-use demand response program which are detained in Chaps. 4 and 8, respectively.
Real-time pricing Demand response programs Robust energy procurement Power price uncertainty Robust optimization approach
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