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Title: An integrated eVoucher mechanism for flexible loads in real-time retail electricity market

This study proposes an innovative economic and engineering coupled framework to encourage typical flexible loads or load aggregators, such as parking lots with high penetration of electric vehicles, to participate directly in the real-time retail electricity market based on an integrated eVoucher program. The integrated eVoucher program entails demand side management, either in the positive or negative direction, following a popular customer-centric design principle. It provides the extra economic benefit to end-users and reduces the risk associated with the wholesale electricity market for electric distribution companies (EDCs), meanwhile improving the potential resilience of the distribution networks with consideration for frequency deviations. When implemented, the eVoucher program allows typical flexible loads, such as electric vehicle parking lots, to adjust their demand and consumption behavior according to financial incentives from an EDC. A distribution system operator (DSO) works as a third party to hasten negotiations between such parking lots and EDCs, as well as the price clearing process. Eventually, both electricity retailers and power system operators will benefit from the active participation of the flexible loads and energy customers.
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  1. Univ. of Michigan, Dearborn, MI (United States). Dept. of Electrical and Computer Engineering
Publication Date:
Grant/Contract Number:
Published Article
Journal Name:
IEEE Access
Additional Journal Information:
Journal Volume: 5; Journal ID: ISSN 2169-3536
Research Org:
Univ. of Michigan, Dearborn, MI (United States)
Sponsoring Org:
USDOE Office of Energy Efficiency and Renewable Energy (EERE)
Country of Publication:
United States
29 ENERGY PLANNING, POLICY, AND ECONOMY; 24 POWER TRANSMISSION AND DISTRIBUTION; retail electricity market; hybrid price scheme; customer-centric principle; electricity supply industry; real-time systems; economics; load management; reliability; power system dynamics
OSTI Identifier:
Alternate Identifier(s):
OSTI ID: 1346440; OSTI ID: 1358253