Design of a Continuous Local Flexibility Market with Network Constraints

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Abstract

To the best of our knowledge, this paper proposes for the first time a design of a continuous local flexibility market that explicitly considers network constraints. Continuous markets are expected to be the most appropriate design option during the early stages of local flexibility markets, where insufficient liquidity can hinder market development. At the same time, increasingly loaded distribution systems require to explicitly consider network constraints in local flexibility market clearing in order to help resolve rather than aggravate local network problems, such as line congestion and voltage issues. This paper defines the essential design considerations, introduces the local flexibility market clearing algorithm, and – aiming to establish a starting point for future research – discusses design options and research challenges that emerge during this procedure which require further investigation.
Original languageEnglish
Title of host publicationProceedings of 2021 IEEE PowerTech
Number of pages6
PublisherIEEE
Publication statusAccepted/In press - 2021
Event14th IEEE PowerTech - Virtual Event - from the Alberto Aguilera Campus of Comillas University, Madrid, Spain
Duration: 27 Jun 20212 Jul 2021
https://www.powertech2021.com/

Conference

Conference14th IEEE PowerTech
LocationVirtual Event - from the Alberto Aguilera Campus of Comillas University
Country/TerritorySpain
CityMadrid
Period27/06/202102/07/2021
Internet address

Keywords

  • Continuous market clearing
  • Local flexibility market
  • Network-aware reserve procurement

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