Analytical Framework for Market-oriented DSR Flexibility Integration and Management

Shi You, Junjie Hu, Kai Heussen, Chunyu Zhang

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Abstract

Integration and management of the flexibility of Demand Side Resources (DSR) in today’s energy systems plays a sig-nificant role in building up a sustainable society. However, the challenges of understanding, predicating and handling the uncertainties associated this subject to a great extent hamper its development. In this paper, an analytical framework based on a multi-portfolio setup in presence of a deregulated power market is proposed to address such challenges by adopting the thinking in modern portfolio theory (MPT). A Numerical example that targets on analyzing the risk and return for various flexibility pricing strategies are presented to illustrate some features of the framework.
Original languageEnglish
JournalEnergy and Power Engineering
Volume5
Pages (from-to)1367-1371
ISSN1949-243X
DOIs
Publication statusPublished - 2013

Keywords

  • Analytical Framework
  • Distributed Energy Resources
  • Flexiblity
  • Deregulated Power Market
  • Morden Portfolio Theory
  • Risk and Return

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