scholarly journals Market Design and Trading Strategies for Community Energy Markets with Storage and Renewable Supply

Energies ◽  
2020 ◽  
Vol 13 (4) ◽  
pp. 972 ◽  
Author(s):  
Abdullah M. Alabdullatif ◽  
Enrico H. Gerding ◽  
Alvaro Perez-Diaz
Keyword(s):  
Budget Deficit ◽  
Market Design ◽  
Supply And Demand ◽  
Cost Savings ◽  
Energy Markets ◽  
Market Model ◽  
Agent Based ◽  
Storage Devices ◽  
Financial Benefits ◽  
Community Budget

Community Energy Markets (CEMs) enable trading opportunities between participants in a community to achieve savings and profits. However, the market design and the behaviour of participants are key factors that determine the success of such markets. To this end, this research presents a CEM model and conducts agent-based simulations to study the benefits of the CEM to consumers and prosumers. The proposed market structure is an hour-ahead periodic double auction. In particular, market rules are proposed that incentivise the provision of energy supply to the community and the investment in energy storage. Furthermore, a trading strategy is introduced that leverages energy flexibility created by the storage devices. Finally, as well as the hour-ahead market, we include a minute-by-minute balancing as part of the CEM’s energy exchange mechanism. The balancing approach is introduced to account for a community budget deficit caused by the time difference between supply and demand. The proposed market results in cost savings for consumers and profit for prosumers similar to existing approaches, while increasing the energy suppliers’ percentage of financial benefits from 50% to a range between 60–96% depending on the community configuration. Moreover, the market model accounts for uncertainties in supply and demand and suggests a methodology to overcome the community budget deficit.

scholarly journals Variable Renewable Energy and Market Design: New Products and a Real-World Study

Energies ◽  
2019 ◽  
Vol 12 (23) ◽  
pp. 4576 ◽  
Author(s):  
Hugo Algarvio ◽  
Fernando Lopes ◽  
António Couto ◽  
Ana Estanqueiro ◽  
João Santana
Keyword(s):  
Renewable Energy ◽  
Real World ◽  
Large Scale ◽  
Market Design ◽  
New Products ◽  
Active Participation ◽  
Energy Markets ◽  
Agent Based ◽  
Large Scale Integration ◽  
Scale Integration

Most existing energy markets (EMs) were not designed to take into account an active participation of variable renewable energy (VRE). This situation results typically in imbalances and substantial costs in balancing markets. Such costs are reflected both in the energy and the VRE parts of the consumer tariffs. Both appropriate market products and new elements of market design may largely facilitate the large-scale integration of VRE in EMs. Accordingly, this article presents a new bilateral energy contract and introduces two new marketplaces that can contribute to reduce the imbalances resulting from VRE producers. It also presents a study conducted with the help of an agent-based tool, called MATREM. The results indicate a significant decrease in the imbalances and the associated costs.

scholarly journals Socio-Technical Viability Framework for Micro Hydropower in Group Water-Energy Schemes

Energies ◽  
2021 ◽  
Vol 14 (14) ◽  
pp. 4222
Author(s):  
Kemi Adeyeye ◽  
John Gallagher ◽  
Aonghus McNabola ◽  
Helena M. Ramos ◽  
Paul Coughlan
Keyword(s):  
Cost Savings ◽  
Environmental Benefits ◽  
Technology Readiness ◽  
Water Networks ◽  
Policy Context ◽  
Recovery Potential ◽  
Sustainability Strategy ◽  
Financial Benefits ◽  
Group Water ◽  
Political Dimensions

Most renewable energy (RE) studies focus on technology readiness, environmental benefits and/or cost savings. The market permeation, viability and adoption of RE technologies such as micro hydropower (MHP), however, require the alignment of other interrelated factors, such as the socio-technical, institutional and political dimensions. This is particularly the case where the energy recovery potential in decentralised water networks is being explored as part of a wholesome sustainability strategy by and for individual and communal prosumers. This study employs a socio-technical approach to understand factors that influence the perceived viability and adoption of MHP in group water-energy schemes. Methods included a progressive literature review to formulate a conceptual framework for the implementation of MHP systems. The framework was validated using survey data from representative stakeholders from groups schemes in Ireland and Spain. These stakeholders were sampled and surveyed at the stage of considering the adoption of MHP in their water networks. The findings highlight the push–pull factors and discusses the opportunities and barriers to the adoption of MHP systems. It confirms that the market, institutional and policy context, cost and financial benefits, social support and collaborative services combine to influence the adoption of MHP technology. Thus, a framework for evaluating the socio-technical viability of MHP systems based on these more realistic integrated, multi-dimensional criteria is proposed.

scholarly journals An Agent-Based Application to Enable Deregulated Energy Markets

2012 ◽  
Author(s):  
Nicola Capodieci ◽  
Giacomo Cabri ◽  
Giuliano Andrea Pagani ◽  
Marco Aiello
Keyword(s):  
Energy Markets ◽  
Agent Based

scholarly journals Demonstration of Blockchain Based Peer to Peer Energy Trading System with Real-Life Used PHEV and HEMS Charge Control

Energies ◽  
2021 ◽  
Vol 14 (22) ◽  
pp. 7484
Author(s):  
Yuki Matsuda ◽  
Yuto Yamazaki ◽  
Hiromu Oki ◽  
Yasuhiro Takeda ◽  
Daishi Sagawa ◽  
...  
Keyword(s):  
Supply And Demand ◽  
Real Life ◽  
Energy System ◽  
Energy Markets ◽  
Peer To Peer ◽  
Renewable Energy Resources ◽  
Trading System ◽  
Energy Trading ◽  
Demonstration Experiment ◽  
Home Energy Management

To further implement decentralized renewable energy resources, blockchain based peer-to-peer (P2P) energy trading is gaining attention and its architecture has been proposed with virtual demonstrations. In this paper, to further socially implement this concept, a blockchain based peer to peer energy trading system which could coordinate with energy control hardware was constructed, and a demonstration experiment was conducted. Previous work focused on virtually matching energy supply and demand via blockchain P2P energy markets, and our work pushes this forward by demonstrating the possibility of actual energy flow control. In this demonstration, Plug-in Hybrid Electrical Vehicles(PHEVs) and Home Energy Management Systems(HEMS) actually used in daily life were controlled in coordination with the blockchain system. In construction, the need of a multi-tagged continuous market was found and proposed. In the demonstration experiment, the proposed blockchain market and hardware control interface was proven capable of securing and stably transmitting energy within the P2P energy system. Also, by the implementation of multi-tagged energy markets, the number of transactions required to secure the required amount of electricity was reduced.

scholarly journals Non-smooth analysis in a national electricity market model: a complex approach

Memorias ◽  
2018 ◽  
pp. 58-66
Author(s):  
Johnny Valencia ◽  
Gerard Olivar ◽  
Johan Manuel Redondo ◽  
Danny Ibarra Vega ◽  
Carlos Peña Rincón
Keyword(s):  
System Dynamics ◽  
Electricity Market ◽  
Equilibrium Points ◽  
Supply And Demand ◽  
Market Model ◽  
National Network ◽  
Demand Growth ◽  
Zero Rate ◽  
National Electricity Market ◽  
Business Approach

In this paper, we show the preliminary results in a proposed a model for the supply and demand of electricity in a domestic market based on system dynamics. Additionally, the model indicates piecewise smooth differential equations arising from the diagram of flows and levels, using dynamical systems theory for the study of the stability of the equilibrium points that have such a system. A bifurcation analysis approach is proposed to define and understand the complex behavior. Until now, no work has been reported related to this topic using bifurcations criteria. The growing interest in personal ways of self-generation using renewable sources can lead the national grid to a standstill and low investment in the system. However, it is essential to preserve the national network as a power supply support to domestic and enterprise demand. To understand this scenario, we include an analysis of zero-rate demand growth. Under this hypothesis, a none smooth bifurcation appears related to a policy which involves the variation of the capacity charge. As a first significant result, we found that it is possible to preserve the investments in the market since, through the capacity charge parameter, the system dynamics can be controlled. Then, from a business approach, it is necessary to know the effects of the capacity charge as the strategic policy in the system generation price scheme.

The Effect of Merger and Acquisitions on the IS Function

2012 ◽  
pp. 157-168
Author(s):  
Andrea Genovese ◽  
Khole Gwebu ◽  
Barry Shore ◽  
Sebastian Titz ◽  
Venky Venkatachalam ◽  
...  
Keyword(s):  
Information Systems ◽  
Social System ◽  
Cost Savings ◽  
Merger And Acquisition ◽  
Integration Process ◽  
Agent Based Simulation ◽  
Agent Based ◽  
Efficient Information ◽  
Merger And Acquisitions ◽  
Major Factors

Merger and acquisition (M&A) activity has many strategic and operational objectives. One operational objective is to develop common and efficient information systems that can be the source of creating significant cost savings for the joined companies. In combining the IS divisions of the acquiring firm with that of the acquired firm there are many hurdles when the technical and social system are to be integrated. Exactly how this process will evolve and exactly what results can be achieved is hard to determine. This chapter identifies some of the major factors associated with the integration process and proposes Agent Based Simulation as a possible methodology to study this phenomenon.

An Agent-Based Model to Forecast the Inflation Rate in the Eurozone

2017 ◽  
pp. 72-92
Author(s):  
Juan Luis Santos ◽  
Jagoda Anna Kaszowska ◽  
Tomás Mancha Navarro
Keyword(s):  
Financial Institutions ◽  
Inflation Rate ◽  
Phillips Curve ◽  
Supply And Demand ◽  
Single Agent ◽  
Market Equilibrium ◽  
Agent Based Model ◽  
Agent Based ◽  
Long Run ◽  
Inflation Rates

The aim of the agent-based model presented in this chapter is to explain the determinants of inflation and to forecast the inflation rate in the Eurozone for the next five years. The behaviors of agents and their expectations are interrelated and explained by macroeconomic models applied to heterogeneous agents of three classes: individuals, companies and financial institutions. In addition, the behavior of public sector and central bank is also modeled with a single agent of each kind. Once the quantitative easing policy is implemented, the quantitative theory of money expects higher inflation rates in the long run. Inflation should remain low taking into account the Phillips-Curve. Last, according to the Aggregated Supply and Demand as well as to the Money Market equilibrium, the behaviors modeled allow forecasting low inflation. However, an external shock, as it would be an increase in the price of important commodities, can alter the inflation rate to a great extent.

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