Offering Strategy of a Flexibility Aggregator in a Balancing Market Using Asymmetric Block Offers

Lucien Ali Bobo, Stefanos Delikaraoglou, Niklas Vespermann, Jalal Kazempour, Pierre Pinson

Research output: Chapter in Book/Report/Conference proceedingArticle in proceedingsResearchpeer-review

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Abstract

In order to enable large-scale penetration of renewables with variable generation, new sources of flexibility have to be exploited in the power systems. Allowing asymmetric block offers (including response and rebound blocks) in balancing markets can facilitate the participation of flexibility aggregators and unlock load-shifting flexibility from, e.g., thermostatic loads. In this paper, we formulate an optimal offering strategy for a risk-averse flexibility aggregator participating in such a market. Using a price-taker approach, load flexibility characteristics and balancing market price forecast scenarios are used to find optimal load-shifting offers under uncertainty. The problem is formulated as a stochastic mixed-integer linear program and can be solved with reasonable computational time. This work is taking place in the framework of the real-life demonstration project EcoGrid 2.0, which includes the operation of a balancing market on the island of Bornholm, Denmark. In this context, aggregators will participate in the market by applying the offering strategy optimization tool presented in this paper.
Original languageEnglish
Title of host publicationProceedings of 2018 Power Systems Computation Conference
Number of pages7
PublisherIEEE
Publication date2018
ISBN (Print)9781910963098
DOIs
Publication statusPublished - 2018
Event20th Power Systems Computation Conference - O’Brien Centre for Science at University College Dublin, Dublin, Ireland
Duration: 11 Jun 201815 Jun 2018
Conference number: 20
http://www.pscc2018.net/index.html

Conference

Conference20th Power Systems Computation Conference
Number20
LocationO’Brien Centre for Science at University College Dublin
CountryIreland
CityDublin
Period11/06/201815/06/2018
Internet address

Keywords

  • Flexibility aggregator
  • Asymmetric block offers
  • Balancing market
  • Load Shifting
  • Offering strategy
  • Risk

Cite this

Bobo, Lucien Ali ; Delikaraoglou, Stefanos ; Vespermann, Niklas ; Kazempour, Jalal ; Pinson, Pierre. / Offering Strategy of a Flexibility Aggregator in a Balancing Market Using Asymmetric Block Offers. Proceedings of 2018 Power Systems Computation Conference . IEEE, 2018.
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title = "Offering Strategy of a Flexibility Aggregator in a Balancing Market Using Asymmetric Block Offers",
abstract = "In order to enable large-scale penetration of renewables with variable generation, new sources of flexibility have to be exploited in the power systems. Allowing asymmetric block offers (including response and rebound blocks) in balancing markets can facilitate the participation of flexibility aggregators and unlock load-shifting flexibility from, e.g., thermostatic loads. In this paper, we formulate an optimal offering strategy for a risk-averse flexibility aggregator participating in such a market. Using a price-taker approach, load flexibility characteristics and balancing market price forecast scenarios are used to find optimal load-shifting offers under uncertainty. The problem is formulated as a stochastic mixed-integer linear program and can be solved with reasonable computational time. This work is taking place in the framework of the real-life demonstration project EcoGrid 2.0, which includes the operation of a balancing market on the island of Bornholm, Denmark. In this context, aggregators will participate in the market by applying the offering strategy optimization tool presented in this paper.",
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Bobo, LA, Delikaraoglou, S, Vespermann, N, Kazempour, J & Pinson, P 2018, Offering Strategy of a Flexibility Aggregator in a Balancing Market Using Asymmetric Block Offers. in Proceedings of 2018 Power Systems Computation Conference . IEEE, 20th Power Systems Computation Conference, Dublin, Ireland, 11/06/2018. https://doi.org/10.23919/PSCC.2018.8443038

Offering Strategy of a Flexibility Aggregator in a Balancing Market Using Asymmetric Block Offers. / Bobo, Lucien Ali; Delikaraoglou, Stefanos; Vespermann, Niklas; Kazempour, Jalal; Pinson, Pierre.

Proceedings of 2018 Power Systems Computation Conference . IEEE, 2018.

Research output: Chapter in Book/Report/Conference proceedingArticle in proceedingsResearchpeer-review

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