Optimization strategy of price‐based demand response considering the bidirectional feedback effect.

Time of use pricing strategy can not only reduce the load fluctuation but also improve the power system reliability. Generally, before carrying out a time of use pricing optimization, it needs to perform a period partition optimization for dividing peak‐valley periods. In existing researches, however, the period partition optimization and the time of use pricing optimization are implemented independently. Although the output of period partition optimization is used as the input of time of use pricing optimization, the bidirectional feedback effect between period partition optimization and time of use pricing optimization is not considered, which will lead to the existing time of use pricing optimization may not be the globally optimal solution. Therefore, this paper investigates a new optimization method for time of use pricing optimization with the consideration of bidirectional feedback effect, establishes a comprehensive customer satisfaction degree model considering the customer load proportion coefficient, and defines an elastic cofactor to describe the electricity price response difference of multiple types of customers. The Roy Billinton test system is used to verify the correctness and effectiveness of the proposed method in this paper. [ABSTRACT FROM AUTHOR]