Speaker: Prof. Dirk Neumann, Dean of the School of Economics at Albert-Ludwigs-Universitat Freiburg, Chair of the Information Engineering Research Programme, Head of the Institute for Economics at the University of Freiburg.

Date: May 24, 2023

Time: 10:00-11:30

Location: Tencent Meeting

Sponsor: School of Economics, Shandong University

Abstract:

This paper presents a novel Demand Response (DR) program to mitigate grid congestion. The program stands out by adjusting electricity prices online and solely based on observed aggregate electricity consumption. It can cope with non-elastic and time-interdependent demand. Additionally, the solution approach based on Deep Reinforcement Learning reaches a cost saving of 40% to 60% after 25 simulation davs. Regarding load flexibility, this paper finds that the responses of the four load types strongly differ depending on prices and notification interval, which is an important design parameter. The results imply that system operators should flexibilize their DR programs with the help of learning algorithms and tailor their program to the local load composition, congestion frequency, and forecasting quality.

For more information, please visit:

https://www.view.sdu.edu.cn/info/1020/179972.htm