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This paper proposes a demand-side pricing strategy to purchase regulation service. The demand-side regulation service has the advantage of lower cost and faster response to reduce the utility company's cost comparing with the traditional automatic generation control (AGC). Thus, it is necessary for the utility company to make a tradeoff between the demand-side regulation and the AGC to minimize the...
This paper proposes a pricing strategy for energy management in the electricity market composed of one generation company, multiple competing utility companies, and consumers with heating, ventilation, and air conditionings, which participate in demand response to keep the electricity real-time balance. The utility company plays the role of an intermediary agent between the generation company and...
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