Bilateral Contracting and Price-Based Demand Response in Multi-Agent Electricity Markets: A Study on Time-of-Use Tariffs

Electrical energy can be traded in liberalized organized markets or by negotiating private bilateral contracts. Competitive are central systems where market players purchase and sell electrical energy. Bilateral contracting consists typically a negotiation of power over several months years between two parties. Price-based demand response considers the active participation consumers electricity markets. Consumers adopt programs when responding to prices tariffs, as they change time. Those tariffs proposed retailers considering their load shape goals, influencing behavior. may strategies from different groups, namely curtailing at times high (e.g., peak intermediate periods) rescheduling away those other (shifting). This article with response. It investigates how curtailment shifting affect quantity cost that time-of-use tariff involving three block periods (i.e., base, periods). The results indicate respond changes price according consumption flexibility, while do not always consumers’ efforts patterns. On average, 5% reduction consumer agent, retailer agent reduces only 1.5%.