Operations Research, Systems Engineering and Industrial Engineering Commons^™

A Framework Of Integrating Manufacturing Plants In Smart Grid Operation: Manufacturing Flexible Load Identification, Md. Monirul Islam, Zeyi Sun, Wenqing Hu, Cihan H. Dagli

Engineering Management and Systems Engineering Faculty Research & Creative Works

In the deregulated electricity markets run by Independent System Operator (ISO), a two-settlement (day-ahead and real-time) process is typically used to determine the electricity price to the end-use customers at different buses. In the day-ahead settlement, the demand is predicted at each bus based on the previous consumption behavior of the consumers and thus, Locational Marginal Price (LMP) can be determined and shared to the consumers. A significant gap is usually observed between the planned and real-time demands due to the uncertainties of the weather (temperature, wind-speed etc.), the intensity of business, and everyday activities. Therefore, a large price variation …