Online emergency demand response mechanism for new power system

The randomness, volatility, and intermittency of new energy pose huge challenges to the stable operation of the new power system. Therefore, it is necessary to improve the real-time and reliability of Emergency Demand Response (EDR). This paper proposes an online EDR mechanism based on dynamic pricing which is different from the existing one, which starts according to the participation of electricity consumers and the completion status of EDR to improve the response speed of the EDR mechanism. Each time the mechanism is activated, electricity consumers who have not exited are repriced, and their rewards for the current response interval are determined. The paper introduces the reliability parameter of electricity consumers to ensure that electricity consumers with high reliability have a higher probability of participating in EDR and receiving higher rewards. The mechanism has been proven to be truthful and achieved a nearly minimum total social cost based on second-level response through simulation experiments.