A Multi-Timescale Allocation Algorithm of Energy and Power for Demand Response in Smart Grids: A Stackelberg Game Approach.

The proliferation of renewable generation brings challenges to the power supply-demand balance. To relieve the power fluctuations caused by photovoltaic (PV) generation variability, a multi-timescale allocation algorithm that considers the allocation of available energy and power is proposed. Contracted demand response energy (CDRE) refers to the regulation energy, which is specified in contracts in advance, that can be used to relieve power fluctuations. First, the capacity of CDRE and available regulation power (RP) provided by load aggregators (LAs) that aggregate different demand response resources (DRRs) are estimated. In hour-timescale, CDRE is allocated to maximize the control economy of all participants, where a sample average approximation-based Stackelberg game is proposed to optimize the behavior of each participant based on considering PV generation uncertainty. In minute-timescale, RP is allocated to smooth the power fluctuations and minimize the power deviations based on the allocated CDRE results. Simulation on a modified IEEE-24 bus system verifies the effectiveness of the proposed algorithm in terms of reducing the power supply-demand imbalance with maximum revenue. [ABSTRACT FROM AUTHOR]