Reliability and efficiency for market parties in power systems

Puglia, Laura; Patrinos, Panagiotis; Bernardini, Daniele; Bemporad, Alberto

doi:10.1109/eem.2013.6607416

Cited by 3 publications

(5 citation statements)

References 8 publications

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“…However, requesting too much AS has a price, so a compromise has to be made between the costs and the risks. That compromise is at the core of the risk strategy of a BRP [1]. In the following example an indication is given of different approaches for a BRP with a 100 MW wind farm to reduce its uncertainty with realistic measured data from Dutch wind farms [2].…”

Section: Fmentioning

confidence: 98%

“…We guarantee that the AS control action is such that it will not allow power flows to stay outside gray area for longer time periods, or more precisely, that trajectories always converge to within the gray areas. 1 See the legend below the figure for explanations, especially for the definition of the term "uncertainty tube", which plays crucial role in AS markets clearing. The analogy with the ahead market clearing (Fig.…”

Section: Network Constraints At System Levelmentioning

confidence: 99%

“…The bids for the energy and ancillary service markets are interdependent as they concern the same physical units. As the bids are based on assumptions and suffer from uncertainties, new algorithms have been designed to capture these uncertainties both in a deterministic and in a stochastic framework [1]. Based on historical information the behavior of renewables, other BRPs and the TSO (a BRP's environment) is being estimated and used for better predictions for the coming day to improve the BRP's own performance and/or maximize its profits.…”

Section: E-price Contributionsmentioning

confidence: 99%

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Reliability and efficiency at global level in power systems

Jokic

Bosch

Virag

et al. 2013

2013 10th International Conference on the European Energy Market (EEM)

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In EU project E-Price it is proposed to attribute reliability to the Transmission System Operator (TSO) and the drive for efficiency to the Balance Responsible Parties (BRP). Two main ideas are proposed. The first idea is to make BRPs themselves responsible for estimating their uncertainty in real time and hedge their imbalance risks, yielding the proposal to introduce dual-sided markets for ancillary services. The second idea is to reduce the conservatism in exploiting the inter-area transmission capacity (ATC), while still guaranteeing sufficient degrees of reliability. This paper explains, elucidates and concludes, based on qualitative arguments and supported by quantitative simulations and calculations, that both proposals are beneficial to improve the stated compromise between reliability and economy.

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Section: Fmentioning

confidence: 98%

Section: Network Constraints At System Levelmentioning

confidence: 99%

Section: E-price Contributionsmentioning

confidence: 99%

See 1 more Smart Citation

Reliability and efficiency at global level in power systems

Jokic

Bosch

Virag

et al. 2013

2013 10th International Conference on the European Energy Market (EEM)

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“…In the context of a deregulated wholesale energy market, prices on the day-ahead market are volatile and are often decided on the basis of an auction (bid-based market) among energy companies instead of bilateral agreements with an energy provider. In such cases, energy prices may change on a daily or hourly basis [50]. It is then necessary to be able to predict the day-ahead evolution of the prices using past data; several time series analysis methodologies have been developed for that purpose -see [51] and references therein.…”

Section: Demands and Electricity Pricesmentioning

confidence: 99%

Uncertainty-aware demand management of water distribution networks in deregulated energy markets

Sopasakis¹,

Sampathirao²,

Bemporad³

et al. 2018

Environmental Modelling & Software

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We present an open-source solution for the operational control of drinking water distribution networks which accounts for the inherent uncertainty in water demand and electricity prices in the day-ahead market of a volatile deregulated economy. As increasingly more energy markets adopt this trading scheme, the operation of drinking water networks requires uncertainty-aware control approaches that mitigate the effect of volatility and result in an economic and safe operation of the network that meets the consumers' need for uninterrupted water supply. We propose the use of scenario-based stochastic model predictive control: an advanced control methodology which comes at a considerable computation cost which is overcome by harnessing the parallelization capabilities of graphics processing units (GPUs) and using a massively parallelizable algorithm based on the accelerated proximal gradient method.

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“…The main relationship between actors in the VPP aggregation market is shown Table 2. [29] VPP aggregator Policy maker Energy rules All actors…”

Section: Buildings and Energy Flexibilitymentioning

confidence: 99%

Aggregation Potentials for Buildings—Business Models of Demand Response and Virtual Power Plants

Billanes

Jôrgensen

2017

Energies

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Buildings as prosumers have an important role in the energy aggregation market due to their potential flexible energy consumption and distributed energy resources. However, energy flexibility provided by buildings can be very complex and depend on many factors. The immaturity of the current aggregation market with unclear incentives is still a challenge for buildings to participate in the aggregation market. However, few studies have investigated business models for building participation in the aggregation market. Therefore, this paper develops four business models for buildings to participate in the energy aggregation market: (1) buildings participate in the implicit Demand Response (DR) program via retailers; (2) buildings with small energy consumption participate in the explicit DR via aggregators; (3) buildings directly access the explicit DR program; (4) buildings access energy market via Virtual Power Plant (VPP) aggregators by providing Distributed Energy Resources (DER)s. This paper also determines that it is essential to understand building owners' needs, comforts, and behaviours to develop feasible market access strategies for different types of buildings. Meanwhile, the incentive programs, national regulations and energy market structures strongly influence buildings' participation in the aggregation market. Under the current Nordic market regulation, business model one is the most feasible one, and business model two faces more challenges due to regulation barriers and limited monetary incentives.

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Reliability and efficiency for market parties in power systems

Cited by 3 publications

References 8 publications

Reliability and efficiency at global level in power systems

Reliability and efficiency at global level in power systems

Uncertainty-aware demand management of water distribution networks in deregulated energy markets

Aggregation Potentials for Buildings—Business Models of Demand Response and Virtual Power Plants

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