Residential Electricity Demand: Peaks, Sequences of Activities and Markov chains (REDPeAk)

Peak electricity demand is becoming an increasingly significant problem for UK networks as it causes imbalances between demand and supply with negative impacts on system costs and the environment. The residential sector is responsible for about one third of overall electricity demand and up to 40% of peak demand. During peak demand, electricity prices in wholesale markets could fluctuate from less than €0.04/kWh to as much as €0.35/kWh.

In the future the peak problem is expected to worsen due to the integration of intermittent renewables in the supply mix as well as high penetration of electric vehicles and electric heat pumps. Understanding what constitutes peaks and identifying areas of effective load shifting intervention becomes vital to the balancing of demand and supply of electricity. Whilst there is information about the aggregate level of consumption of electricity, little is known about residential peak demand and what levels of flexibility might be available.

REDPeAk will fill this gap.