Demand response types

Balance Responsible Party (BRP): the Balance Responsible Parties are in general at the core of all European wholesale markets. The notion was introduced to encourage demand and supply balancing; unbalanced BRPs are financially penalised. Usually, consumers’ suppliers are also their BRP.

Critical peak pricing: when suppliers observe or anticipate high wholesale market prices or power system emergency conditions, they may invoke critical events during a specified time period (e.g., 6 p.m.—10 p.m. on a cold winter weekday), the electricity price during these time periods can spike up by a substantial order of magnitude.

Demand response (DR), demand side flexibility: see first question “What is demand response?”

Demand response aggregator: a DR aggregator is a company doing DR aggregation. DR aggregation is the commercial function of pooling consumption changes from consumers to provide energy, flexibility, capacity and services to other subsets of the electricity system.

Demand response services provider: a company offering demand response services to consumers. This includes suppliers, consulting companies helping consumers to better react to time-varying prices, demand response aggregators partnering with balance responsible parties or suppliers; and third party demand response aggregators.

Dynamic pricing: dynamic prices reflect variations in wholesale market prices. They can go to different lengths in terms of granularity, from hourly prices set and announced one day in advance to consumers, to real-time pricing directly tracking wholesale market prices.

Energy efficiency: a permanent consumption reduction while keeping the same level of usage and comfort.

Flexibility: any modification of generation and/or consumption levels in reaction to an external price or activation signal, aimed at providing a service within the energy system. The flexibility provided by consumers is called demand-side flexibility or demand response.

Supplier: company supplying electricity to end consumers. Suppliers also offer flexibility services embedded in supply contracts, for instance through time-varying pricing. Suppliers can also act as demand response aggregators.

Time-of-Use (ToU) pricing: instead of a single flat rate for energy use, time-of-use rates change for broad blocks of hours: they are higher when electric demand is higher (as reflected in wholesale prices). The price for each period is pre-determined and constant.

Time-of-Use network tariffs also exist in some countries to reflect different states of the network.

Time-varying/time-based pricing: refers to any pricing rate that is not flat and changes over different time periods.

Real time pricing: different price levels usually apply to different time periods on an hourly or sub-hourly basis.

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