The increasing adoption of renewable energy sources increases the need of balancing power. The security concerns of the distribution system operators are increasing due to fast adoption of distributed energy resources (DERs). So far, various operational models are proposed to manage the DERs for economic benefit. However, there is lack of an efficient operational model that balances the security, market, and uncertainty management. With the focus on the aggregator's operation, this paper has developed an operational model for continuous operation of aggregators interactively with the grid operators. A rolling optimization model is developed to manage the uncertainties from prediction errors. The network security is ensured continuously through an iterative price negotiation process between the distribution network operator and the aggregators. The optimality of the solution is guaranteed by convexification of the mixed integer formulation.
- Rolling window
- Distributed energy resources (DERs)
- Balancing market
- Transactive energy
- Decentralized operation