An assessment of the influence of demand response on demand elasticity in electricity retail market

A transition towards a sustainable society is currently ongoing. In the electrical power system, this is reflected by the increasing share of renewable energy sources (RES). The weather dependence of some RES results in intermittent and volatile behaviour, thus matching supply and demand has become a challenge. Demand response (DR) is an emerging field which enables society to coop with upcoming challenges. One of the explored concepts to perform the DR is the price elasticity of demand. This paper presents a model to compute price elasticity matrices for typical households consisting of dispatchable appliances and a base load. Simulations of the model will demonstrate the price elastic response for different scenarios.