Application of opportunistic information-gap decision theory on demand response aggregator in the day-ahead electricity market

The proposed model analyzes the profit of a demand response (DR) aggregator from trading DR in the day-ahead electricity market in a way that it tends to gain profit from the favorable deviations of the uncertain parameters. Two types of DR programs are implemented in this model, i.e., time-of-use and reward based DR program. The information-gap decision theory is being employed as a risk measure to address the uncertainties. Two uncertain parameters from both sides of the aggregator have been taken into account in this model, such as the participation rate of the consumers in reward-based DR program in the consumer-side of the aggregator and the day-ahead market prices in the wholesale-side of it. The program is simulated in GAMS software using the available commercial solver. Real data is considered to check the feasibility of the proposed program.