Analysis of Demand Response Options in Smart Grid

Although the benefits of implementing demand response(DR) have already been classified clearly,it is urgent to fairly and reasonably quantify the benefits of DR in order to meet the interests of all stakeholders.The upsurge of smart grid has greatly promoted the measurement and verification of DR programs.In the context of smart grid,a variety of DR options have been put forward,including DR options of four different types of prices concerning different responding schemes of customers,and wind type DR options concerning the coupling between DR and wind power.The design principle,transaction obligations and option values of DR options are discussed in detail,and Monte Carlo simulation method is then adopted to price DR options in smart grid.