A vision of the next-generation retail electricity market in the context of distributed energy resources

2018 ◽  
Author(s):  
Josue Campos do Prado ◽  
Wei Qiao
Keyword(s):  
Electricity Market ◽  
Energy Resources ◽  
Distributed Energy Resources ◽  
Next Generation ◽  
Distributed Energy

scholarly journals The Next-Generation Retail Electricity Market in the Context of Distributed Energy Resources: Vision and Integrating Framework

Energies ◽  
2019 ◽  
Vol 12 (3) ◽  
pp. 491 ◽  
Author(s):  
Josue do Prado ◽  
Wei Qiao ◽  
Liyan Qu ◽  
Julio Agüero
Keyword(s):  
Electricity Market ◽  
Distribution Systems ◽  
Business Models ◽  
Energy Resources ◽  
Distributed Energy Resources ◽  
Future Research ◽  
Next Generation ◽  
Distributed Energy ◽  
New Business ◽  
New Business Models

The increasing adoption of distributed energy resources (DERs) and smart grid technologies (SGTs) by end-user retail customers is changing significantly both technical and economic operations in the distribution grid. The next-generation retail electricity market will promote decentralization, efficiency, and competitiveness by accommodating existing and new agents through new business models and transactive approaches in an advanced metering infrastructure (AMI). However, these changes will bring several technical challenges to be addressed in transmission and distribution systems. Considerable activities have been carried out worldwide to study the impacts of integrating DERs into the grid and in the wholesale electricity market. However, the big vision and framework of the next-generation retail market in the context of DERs is still unclear. This paper aims to present a brief review of the present retail electricity market, some recent developments, and a comprehensive vision of the next-generation retail electricity market by describing its expected characteristics, challenges, needs, and future research topics to be addressed. A framework of integrating retail and wholesale electricity markets is also presented and discussed. The proposed vision and framework particularly highlight the necessity of new business models and regulatory initiatives to establish decentralized markets for DERs at the retail level as well as advances in technology and infrastructure necessary to allow the widespread use of DERs in active and effective ways.

Design of an Agent-Based Technique for Controlling Interconnected Distributed Energy Resource Transactions

2017 ◽  
Author(s):  
Samantha Janko ◽  
Nathan G. Johnson
Keyword(s):  
Electricity Market ◽  
Energy Resource ◽  
Electric Utility ◽  
Energy Resources ◽  
Distributed Energy Resources ◽  
Electrical Network ◽  
Distributed Energy ◽  
Agent Based ◽  
Electricity Cost ◽  
Distributed Energy Resource

Electricity has traditionally been a commodity that is bought and sold through a rigid marketplace between an electric utility and a ratepayer. Today, however, the electricity market is rapidly evolving to be comprised of distributed energy resources and microgrids that change the structure of the technical and financial relationship between utilities and ratepayers. Regulation, a reduction in cost of renewable energy technologies, interoperability and improved communications, and public interest in green power are facilitating this transition. Microgrids require an additional layer of control, often use preprogrammed rule sets, and lack bi-directional self-awareness, self-management, and self-diagnostics necessary to dynamically adapt to changes on-site and in the grid. Research is needed in optimization and controls. This study explores the viability of self-organizing control algorithms to manage multiple distributed energy resources within a distribution network and reduce electricity cost to one or more ratepayers having such resources installed on-site. Such research provides insight into the transition from a traditional power distribution architecture into a flexible smart network that is better prepared for future technological advances, renewables integration, and customer-side control. Agent-based techniques are employed for least-cost optimization and implements these to manage transactions between three decentralized distributed energy resource systems within an electrical network.

scholarly journals Re-Designing GB’s Electricity Market Design: A Conceptual Framework Which Recognises the Value of Distributed Energy Resources

Energies ◽  
2021 ◽  
Vol 14 (4) ◽  
pp. 1124
Author(s):  
Thomas Pownall ◽  
Iain Soutar ◽  
Catherine Mitchell
Keyword(s):  
Electricity Market ◽  
Large Scale ◽  
Market Design ◽  
Geographical Area ◽  
Energy Resources ◽  
Distributed Energy Resources ◽  
Distributed Energy ◽  
Wholesale Market ◽  
Efficient Operation ◽  
Net Zero

The design of electricity markets determines the technologies, services and modes of operation that can access value, consequently shaping current and future electricity landscapes. This paper highlights that the efficacy of Great Britain’s electricity market design in facilitating net zero is inadequate and must be reconfigured. The rules of the current electricity market design are remnants of an electricity sector dominated by large-scale, centralised, fossil fuel technologies. Therefore, routes to market for the provision of necessary services to support net zero, not least flexibility, are largely inaccessible for distributed energy resources and, despite their benefits to the system, are thus undervalued. Based upon a review and consolidation of 30 proposed electricity market designs from liberalised electricity sectors, this paper proposes a new electricity market design for Great Britain. This design is presented alongside a new institutional framework to aid in the efficient operation of the market. Specifically, this paper proposes a new local balancing and coordinating market located at each grid supply point (the transmission and distribution interface). This is realised through the implementation of a distributed locational marginal pricing structure which is governed by the evolution of the current distributed network operator, known as the distributed service provider (DSP). The DSP also operates a local balancing and ancillary market for their geographical area. The wholesale market is reconfigured to coordinate with these new local markets and to harmonise the actors across the distribution and transmission network.

scholarly journals Integration of Flexibility from Distributed Energy Resources: Mapping the Innovative Italian Pilot Project UVAM

Energies ◽  
2021 ◽  
Vol 14 (7) ◽  
pp. 1910
Author(s):  
Jan Schwidtal ◽  
Marco Agostini ◽  
Fabio Bignucolo ◽  
Massimiliano Coppo ◽  
Patrizia Garengo ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Electricity Market ◽  
Market Integration ◽  
Energy Transition ◽  
Pilot Project ◽  
Energy Resources ◽  
Distributed Energy Resources ◽  
Distributed Energy ◽  
Distributed Resources ◽  
Fundamental Building Block

In light of the advancing energy transition and an increasing amount of intermittent renewable energy to be integrated, flexibility from distributed energy resources will be key. In this paper, the Italian UVAM (Unità Virtuali Abilitate Miste, i.e., virtually aggregated mixed units) project, one of the biggest pilots in Europe to serve this purpose, is critically reviewed and mapped after two years of operation. The pilot is analyzed on a global level as well as the individual participant level. Based on the extensive analysis of actual market data, different strategies of participating companies to obtain capacity in accordance with the pilot project’s design are identified. Furthermore, the specific bidding strategies of individual participating units on the balancing market are outlined. Alongside this, the overall pilot project’s market integration, in terms of offered and accepted bids, is depicted. The thorough data analysis, therefore, serves as an input and fundamental building block for future electricity market modeling. Comprehending specific data from the coronavirus disease 2019 (COVID-19) pandemic, provides insights for future high renewable-energy scenarios. Based on the analysis findings, valuable deliverables are devised for both policy-makers and decision-makers who aim to leverage the flexibility potential of distributed resources.

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