Assessment of utility side financial benefits of demand side management considering environmental impacts

Any electrical utility prefers to implement demand side management and change the shape of the demand curve in a beneficial manner. This paper aims to assess the financial gains (or losses) to the generating sector through the implementation of demand side management programs. An optimization algori...

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Bibliographic Details
Main Author: Abeygunawardane, Saranga Kumudu
Format: Conference Proceeding
Language:English
Subjects:
Algorithms
Demand side management
Environmental impact
Environmental management
Financial factors
Optimization
Optimization algorithms
Supply & demand
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Summary:Any electrical utility prefers to implement demand side management and change the shape of the demand curve in a beneficial manner. This paper aims to assess the financial gains (or losses) to the generating sector through the implementation of demand side management programs. An optimization algorithm is developed to find the optimal generation mix that minimizes the daily total generating cost. This daily total generating cost includes the daily generating cost as well as the environmental damage cost. The proposed optimization algorithm is used to find the daily total generating cost for the base case and for several demand side management programs using the data obtained from the Sri Lankan power system. Results obtained for DSM programs are compared with the results obtained for the base case to assess the financial benefits of demand side management to the generating sector.
ISSN:0094-243X
1551-7616
DOI:10.1063/1.5022897