McKenna, KillianKillianMcKennaKeane, AndrewAndrewKeane2016-02-032016-02-032014 IEEE2014-10-15http://hdl.handle.net/10197/74322014 IEEE PES Innovative Smart Grid Technologies Conference Europe (ISGT-Europe), Istanbul, Turkey, 12 - 15 October, 2014The introduction of variable pricing schemes has potential impacts for low voltage (LV) distribution networks with regards to load diversity and peak demand. Households are being equipped communication systems that give consumers a greater visibility of electricity prices facilitating greater market engagement and demand response. This paper presents a bottom-up load model coupled with a novel methodology to capture the discrete, bounded and uncertain consumer response to variable prices. The model uses Monte Carlo simulation techniques and price elasticity matrices to affect the probability of consumption, taking into account detailed consumer characteristics and appliance operation. The model is used to run a high resolution simulation of residential load response and to quantify behavioral changes using standard load metrics.en© © 2014 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.Demand responsePrice-responseDistribution networksLoad modellingSmart gridsResidential load sectorConference Publication10.1109/ISGTEurope.2014.70287692016-01-22https://creativecommons.org/licenses/by-nc-nd/3.0/ie/