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Currently, the majority of residential customers are charged a flat retail electricity rate, giving them one option to save money: reduce consumption. This flat rate philosophy is in stark contrast to the wholesale market, which can have substantial fluctuations in market price, especially during peak demand. Although demand response has emerged in the large industrial sector, its presence is lacking...
Arguably the most exciting aspect of the smart grid vision is the full participation of end-use resources with all forms of generation and energy storage in the reliable and efficient operation of an electric power system. Engaging all of these resources in a collaborative manner that respects the objectives of each resource, is sensitive to the system and local constraints of electricity flow, and...
In energy intensive enterprises (EIE) with self generation power plant, real time electricity cost is affected by dynamic change of its power consumption and generation. Centralized power demand control is usually hard to be used in EIE due to complex constraints of production process. A rational price signal which is able to lead end users to reduce power during peak hours or shift load from peak...
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