Incentivizing renewables and reducing grid imbalances through market interaction

Incentivizing renewables and reducing grid imbalances through market interaction: A forecasting and control approach

Lago, Jesus (TU Delft Team Bart De Schutter)

De Schutter, B.H.K. (promotor)

Delft University of Technology

2020-09-28

As the penetration of renewable energy sources (RESs) increases, so does the dependence of electricity production on weather and, in turn, the uncertainty in electricity generation, the volatility in electricity prices, and the imbalances between production and consumption. In this context, while RES integration does complicate grid balance and increase price volatility, it also opens up opportunities for flexible market agents to reduce grid imbalances. In particular, by using the nature of the interactions between electricity markets and grid balance, market agents can reduce grid imbalances while increasing their profit. However, despite this obvious win-win situation, traditional research in this field has focused on balancing mechanisms that do not always exploit these relations between electricity markets and grid balance.

https://doi.org/10.4233/uuid:db706644-1397-4e97-99a1-6ed748fe4ed4

978-94-6402-444-9

Institutional Repository

doctoral thesis

© 2020 Jesus Lago