Option valuation applied to implementing demand response via critical peak pricing

2007 IEEE Power Engineering Society General Meeting, PES

Volumn , Issue , 2007, Pages

  Joo, Jhi Young ^b   Ahn, Sang Ho ^b   Yoon, Yong Tae ^a,b   Choi, Jong Woong ^c  

^a IEEE

^b Seoul National University   (South Korea)

^c LS Industrial Systems Co Ltd   (South Korea)

Author keywords

Critical peak pricing; Demand response; Option valuation; Power system economics

Indexed keywords

COST ACCOUNTING; ECONOMIC ANALYSIS; ELECTRIC INDUSTRY; NUMERICAL METHODS; OPTIMIZATION;

CRITICAL PEAK PRICING; DEMAND RESPONSE; OPTION VALUATION; POWER SYSTEM ECONOMICS;

INDUSTRIAL MANAGEMENT;

EID: 42549161004     PISSN: None     EISSN: None     Source Type: Conference Proceeding    
DOI: 10.1109/PES.2007.385559     Document Type: Conference Paper

References (17)

1. Z. N. Popovic, and D. S. Popovic, "Direct Load Control as a Market-Based Program in Deregulated Power Industries", presented at the 2003 IEEE Bologna PowerTech Conf.
2. R. Flølo, L. Gundersen, and T. Gjengedal, "DA/DSM Profitability in a Deregulated Market Environment", 1998, IEEE
3. D. Cirio, G. Demartini, S. Massucco, A. Morini, P. Scalera, F. Silvestro, and G. Vimercati, "Load Control for Improving System Security and Economics", 2003 IEEE Bologna PowerTech Conference, June 23-26, Bologna, Italy
4. A. Rosenfeld, M. Jaske, and S. Borenstein, "Dynamic Pricing, Advanced Metering and Demand Response in Electricity Markets," Hewlett Foundation Energy Series [Online], Oct. 2002, pp. 15-19. Available: http://www.ef.org
5. M. Räsänen, J. Ruusunen, and R. P. Hämäläinen, "Identification of Consumers' Price Responses in the Dynamic Pricing of Electricity", 1995, IEEE
6. W. Zhang, and A. Felianchi, "Residential Load Control Through Real-Time Pricing Signals", 2003, IEEE
7. R. Dettmer, "Meter Power", IEE Review, Jun. 1992
8. S. Barsali, M. Ceraolo, R. Giglioli, and D. Poli, "Aggregation and Management of the Demand in a Deregulated Electricity Market", 2003 IEEE Bologna PowerTech Conference, June 23-26, Bologna, Italy
9. C. Alvarez, A. Gabaldón, and A. Molina, "Assessment and Simulation of the Responsive Demand Potential in End-User Facilities: Application to a University Customer", IEEE Transactions on Power Systems, Vol. 19, No. 2, May 2004
10. J.-S. R. Jang, C.-T. Sun, and E. Mizutani, Neuro-Fuzzy and Soft Computing, International Ed. Prentice-Hall International, 1997, pp. 104-110.
11. nd Hawaii International Conference on Systems Sciences, 1999
12. E. Allen and M. Ilić, Price-Based Commitment Decisions in the Electricity Market, Springer, 1999, pp. 36.
13. th Ed. Pearson Prentice Hall, 2006, pp. 265-268.
14. PJM market price and load data [Online]. Available: http://www.pjm.com
15. C. Blanco, S. Choi, and D. Soronow, "Mean Reverting Processes", Commodities Now, Mar. 2001 [Online]. Available: http://www.fea.com/ resources/articles.asp
16. C. Blanco, and D. Soronow, "Jump Diffusion Processes", Commodities Now, Sep. 2001 [Online]. Available: http://www.fea.com/ resources/articles.asp
17. P. Jaillet, E. I. Ronn, S. Tompaidis, "Valuation of Commodity-Based Swing Options", Management Science, Dec. 2003 [Online]. Available: http://web.mit.edu/jaillet/www/general/swing-last.pdf