Assessing flexibility options in electricity market clearing

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F68407700%3A21230%2F23%3A00363749" target="_blank" >RIV/68407700:21230/23:00363749 - isvavai.cz</a>

Result on the web

<a href="https://doi.org/10.1016/j.rser.2022.113084" target="_blank" >https://doi.org/10.1016/j.rser.2022.113084</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.rser.2022.113084" target="_blank" >10.1016/j.rser.2022.113084</a>

Result language

angličtina

Original language name

Assessing flexibility options in electricity market clearing

Original language description

This work presents a model to co-optimize the energy and reserves markets, taking into account the penetration and participation of various flexibility providers in both markets. In particular, a detailed unit commitment model has been developed based on mixed-integer programming techniques incorporating energy storage systems with both charging and discharging options, electric vehicles with both grid-to-vehicle and vehicle-to-grid modes, and demand response programs for cost-optimal energy and ancillary services scheduling. The balancing services considered include Frequency Containment Reserves (FCR), automatic Frequency Restoration Reserves (aFRR), and manual Frequency Restoration Reserves (mFRR), in both upward and downward directions. The impact of all these flexibility providers on operational and economic aspects has been assessed through an illustrative case study of a power system with high penetration of renewable energy sources, including thermal and hydroelectric power units. The results highlight the superiority of results when considering the participation of all flexibility providers, especially in the ancillary services market, in terms of economic competitiveness, renewable energy curtailment, associated CO2 emissions, and utilization of costly energy resources. The growing share of flexibility providers in both energy management and reserve provision mix highlights the importance of these sources for power mixes with low carbon content. The methodological framework developed can be employed by system operators, market participants, and policymakers to provide price signals and optimize their resources and portfolios.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

20704 - Energy and fuels

Project

—

Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2023

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Renewable and Sustainable Energy Reviews

ISSN

1364-0321

e-ISSN

1879-0690

Volume of the periodical

173

Issue of the periodical within the volume

March

Country of publishing house

GB - UNITED KINGDOM

Number of pages

14

Pages from-to

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UT code for WoS article

000901972900001

EID of the result in the Scopus database

2-s2.0-85143796577