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By advancement and vogue of smart grid technologies, there is a strong attitude toward utilizing different strategies for participating in demand response (DR) programs in electricity markets. DR programs can be classified into two main categories namely incentive-based programs (IBPs) and time-based rate programs (TBRPs). In this paper, an improved incentive-based DR (IBDR) model is proposed. In our proposed IBP, the concept of elasticity is improved where it depends not only on the electricity price, but also is a function of consumption hour and customer type. In this program, the incentive value which is paid to the participating consumers is not a fix value and relates to the peak intensity of each hour. The proposed IBP can participate in both of day-ahead and intra-day electricity markets. The property of considering intra-day market enables consumers to provide maximum DR if possible. The proposed model is implemented on peak load curve of Spanish electricity market and a 200-unit residential complex. Different scenarios are considered to show effectiveness of the proposed DR model from various aspects including peak shaving as well as economic indices. [ABSTRACT FROM AUTHOR]

This article presents a new approach to the energy efficiency of households based on smart grid technologies applied to the existing power grid. The idea is to make the electrical appliances capable of actively responding to the condition of the upstream grid,e.g., the electricity price, which, under market environments, is passed to end-use customers through retailers or load aggregators. This both saves on the electricity bill for customers and improves the energy efficiency of the system as a whole. The key element is advanced metering infrastructure, which performs two main functions: (1) computing the so-called control policy for electrical appliances with anticipated data and (2) real-time control based on the above control policy and actual measurements. By stochastic optimization, the proposed scheme is capable of monitoring the uncertainty related to the electricity consumption in households,e.g., temperature and/or time and quantity demanded, etc. In addition, with the physical model taken into account, the problem can be applied to various appliances, including what were considered critical loads. The proposed scheme was tested in heat, ventilation, and air-conditioning systems; the simulation result showed the effectiveness in comparison with the traditional (on/off) scheme based on thermostats. [ABSTRACT FROM PUBLISHER]