Industrial demand response by steel plants with spinning reserve provision

Demand response has gained significant attention in recent years as it demonstrates potentials to enhance the power system´s operational flexibility in a cost-effective way. Industrial loads such as steel manufacturing plants consume large amounts of electric energy, and their electricity bills account for a remarkable percentage of their total operation cost. Meanwhile, lots of industrial loads are very flexible in terms of adjusting their power consumption rate, e.g. through switching the transformer tap position. Hence, industrial loads such as the steel plants have both the motivation and the ability to support power system operation through demand response. In this paper, we focus on the steel plant and optimize its scheduling to maximize its profits from both the energy and the spinning reserve markets.