Optimal strategies modelling of demand response in electricity market for integration of intermittent resources

Interest in renewable energy resources (RER) is increased due to improved public awareness of the high energy cost and adverse environmental impacts of conventional energy resources. Causes a transition to a new generation of power networks which, among others characteristics, allows more flexible demand consumption under various Demand Response Programs (DRPs). Variable generation and stochastic demand strongly influencing the electricity markets and makes DRP extremely complex in nature. Therefore, the potential rapid growth of future demand for these energy sources suggest a need to formulate new strategies of DR to consider grid operating condition for every participant stakeholder of the deregulated electricity market that is not address in literature in details before. In this context, novel optimal strategies for DR model based on signaling game theory are proposed. Its simulation methodology for reliability evaluation and cost assessment in Independent Micro Grid Network (IMGN) is developed and results are discussed as compare to with existing methods.