Process-to-market matrix mapping: A multi-criteria evaluation framework for industrial processes’ electricity market participation feasibility

An agent-based modelling framework for the simulation of large-scale consumer participation in electricity market ecosystems

“…Finally, market intermediaries such as retailers, aggregators, and independent balancing responsible parties (BRP) are also excluded from the model. Many large-scale consumers have the advantage of having large enough loads to directly participate in electricity markets without load aggregation (Fatras et al 2022b;Samad and Kiliccote 2012;Howard et al 2020). The modelled large-scale consumer is therefore assumed to be its own BRP.…”

“…As noted previously, market liberalisation has led to a large diversity of submarkets. The choice of submarkets to include in the model will depend on the evaluated consumer value chain, and on participation feasibility from a technical and regulatory point of view (Fatras et al 2022b). As this is not the focus of this study, submarkets included in the case study will only be selected based on their suitability to illustrate the framework.…”

“…Role parameters are also used to implement the empty methods in a submarket's interface I_Role. For example, (Fatras et al 2022b) describes different ancillary service submarkets in the Danish market context using four bidding parameters (bid resolution, bid frequency, bid deadline, minimum bid size) and five activation parameters (activation speed, activation symmetry, response duration, automatic activation, information exchange frequency). These parameters are needed to respectively implement the "Bid clearing" and "Reserve activation" roles shown for the ancillary service submarket in Fig.…”

“…Modelling approaches focusing on participant's specific preferences and properties are particularly relevant for consumers, as operational risk-averseness, revenue uncertainty and reluctance to change have been identified as some of the key barriers for the uptake of consumer-side market participation (Leinauer et al 2022;Alcázar-Ortega et al 2015;Olsthoorn et al 2015;Vaerbak et al 2019). The specific success criteria of each consumer could result in different market participation strategies, depending on how well the market can satisfy these criteria (Fatras et al 2022b). A particular challenge for consumers is to navigate the complexity of liberalised electricity markets, which are often composed of a series of interacting submarkets, each providing different services to the grid at different time resolutions, over different timespans, and with different participation requirements (Fatras et al 2022b;Ma et al 2019a).…”

“…The specific success criteria of each consumer could result in different market participation strategies, depending on how well the market can satisfy these criteria (Fatras et al 2022b). A particular challenge for consumers is to navigate the complexity of liberalised electricity markets, which are often composed of a series of interacting submarkets, each providing different services to the grid at different time resolutions, over different timespans, and with different participation requirements (Fatras et al 2022b;Ma et al 2019a). The properties and interactions between submarkets are also very context dependent.…”