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Real-Time Pricing and Demand Response

June 2011
U.S. Department of Energy, Pacific Northwest National Laboratory
Demand Response, Smart Grid, presentation, dynamic pricing, DR, real-time pricing, RTP, IEEE PES GM 2011, double-auction retail market

The presentation was made at IEEE PES 2011 General Meeting Super Sessions in July, 2011, and outlines: 1) Why dynamic pricing? 2) Key characteristics of Demand Response programs; 3) Fundamental nature of Demand Response; 4) Advantages of real-time pricing; 5) Extending RTP with a double-auction retail market; 6) Results from a field experiment; 7) Challenges in designing RTP rates; 8) Implications for smart grid communications architecture; 9) Extending RTP to engage demand for ancillary services.