Abstract
This paper presents a decision making framework for a Smart Service Energy Provider (SESP) playing the role of both a local market operator and aggregator of prosumers to participate in the wholesale day ahead and balancing markets. Local market prices are settled by applying premiums with respect to the day-ahead market prices. These premiums are a clear incentive to exchange energy among peers in the local energy market. A stochastic model is developed to deal with the uncertainty concerning PV generation and market prices. The simulations show how the local market increases the amount of renewable energy consumed and reduces the amount of power bought from the wholesale market.
| Original language | English |
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| Pages | 1-6 |
| Number of pages | 6 |
| DOIs | |
| Publication status | Published - 2019 |
| Event | 2nd International Conference on Smart Energy Systems and Technologies, SEST 2019 - Porto, Portugal Duration: 9 Sept 2019 → 11 Sept 2019 |
Conference
| Conference | 2nd International Conference on Smart Energy Systems and Technologies, SEST 2019 |
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| Country/Territory | Portugal |
| City | Porto |
| Period | 9/09/19 → 11/09/19 |
Keywords
- building management systems
- decision making
- power markets
- power system economics
- pricing
- smart buildings
- decision making framework
- local market operator
- wholesale day
- local market prices
- day-ahead market prices
- local energy market
- renewable energy
- wholesale market
- decision-making framework
- smart service energy provider
- local energy exchanges
- Dams
- Decision making
- Mathematical model
- Uncertainty
- Stochastic processes
- Renewable energy sources
- Peer-to-peer computing
- energy aggregator
- prosumers
- renewable energy sources
- stochastic optimization