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In this paper, we propose a novel incentive based Demand Response (DR)program with a self reported baseline mechanism. The System Operator (SO)managing the DR program recruits consumers or aggregators of DR resources. Therecruited consumers are required to only report their baseline, which is theminimal information necessary for any DR program. During a DR event, a set ofconsumers, from this pool of recruited consumers, are randomly selected. Theconsumers are selected such that the required load reduction is delivered. Theselected consumers, who reduce their load, are rewarded for their services andother recruited consumers, who deviate from their reported baseline, arepenalized. The randomization in selection and penalty ensure that the baselineinflation is controlled. We also justify that the selection probability can besimultaneously used to control SO's cost. This allows the SO to design themechanism such that its cost is almost optimal when there are no recruitmentcosts or at least significantly reduced otherwise. Finally, we also show thatthe proposed method of self-reported baseline outperforms other baselineestimation methods commonly used in practice.

A Minimal Incentive-based Demand Response Program With Self Reported Baseline Mechanism