Evaluating the Value of Flexibility in Energy Regulation Markets

Bijay Neupane; Torben Bach Pedersen; Bo Thiesson

doi:10.1145/2768510.2768540

Evaluating the Value of Flexibility in Energy Regulation Markets

Bijay Neupane, Torben Bach Pedersen, Bo Thiesson

Publikation: Bidrag til bog/antologi/rapport/konference proceeding › Konferenceartikel i proceeding › Forskning › peer review

13 Citationer (Scopus)

Abstrakt

In this paper, we perform an econometric analysis on the benefits of introducing flexibility in the Danish/Nordic regulating power market. The paper investigates the relationships between market power prices and regulation volumes, in order to quantify the effects of flexibility on regulating power prices. Further, we analyze the benefit for various types of flexibility and market objectives, to detect the type of energy flexibility that maximizes the benefits. Results show that if 3.87% of total demand is flexible, market can reduce the regulation cost by 49% and the regulation volume by 29.4%.

Originalsprog	Engelsk
Titel	Proceedings of the 2015 ACM Sixth International Conference on Future Energy Systems
Antal sider	10
Forlag	Association for Computing Machinery
Publikationsdato	jul. 2015
Sider	131-140
ISBN (Trykt)	978-1-4503-3609-3
DOI	https://doi.org/10.1145/2768510.2768540
Status	Udgivet - jul. 2015
Begivenhed	Sixth ACM International Conference on Future Energy Systems - Bengalore, Indien Varighed: 14 jul. 2015 → 17 jul. 2015 http://conferences.sigcomm.org/eenergy/2015/

Konference

Konference	Sixth ACM International Conference on Future Energy Systems
Land/Område	Indien
By	Bengalore
Periode	14/07/2015 → 17/07/2015
Internetadresse	http://conferences.sigcomm.org/eenergy/2015/

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10.1145/2768510.2768540

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Citationsformater

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title = "Evaluating the Value of Flexibility in Energy Regulation Markets",

abstract = "In this paper, we perform an econometric analysis on the benefits of introducing flexibility in the Danish/Nordic regulating power market. The paper investigates the relationships between market power prices and regulation volumes, in order to quantify the effects of flexibility on regulating power prices. Further, we analyze the benefit for various types of flexibility and market objectives, to detect the type of energy flexibility that maximizes the benefits. Results show that if 3.87% of total demand is flexible, market can reduce the regulation cost by 49% and the regulation volume by 29.4%.",

keywords = "Econometric analysis, Flexibility, Demand management",

author = "Bijay Neupane and Pedersen, {Torben Bach} and Bo Thiesson",

year = "2015",

month = jul,

doi = "10.1145/2768510.2768540",

language = "English",

isbn = "978-1-4503-3609-3",

pages = "131--140",

booktitle = "Proceedings of the 2015 ACM Sixth International Conference on Future Energy Systems",

publisher = "Association for Computing Machinery",

address = "United States",

note = "Sixth ACM International Conference on Future Energy Systems , ACM e-Energy ; Conference date: 14-07-2015 Through 17-07-2015",

url = "http://conferences.sigcomm.org/eenergy/2015/",

}

Neupane, B, Pedersen, TB & Thiesson, B 2015, Evaluating the Value of Flexibility in Energy Regulation Markets. i Proceedings of the 2015 ACM Sixth International Conference on Future Energy Systems. Association for Computing Machinery, s. 131-140, Sixth ACM International Conference on Future Energy Systems , Bengalore, Indien, 14/07/2015. https://doi.org/10.1145/2768510.2768540

Evaluating the Value of Flexibility in Energy Regulation Markets. / Neupane, Bijay; Pedersen, Torben Bach; Thiesson, Bo.
Proceedings of the 2015 ACM Sixth International Conference on Future Energy Systems. Association for Computing Machinery, 2015. s. 131-140.

Publikation: Bidrag til bog/antologi/rapport/konference proceeding › Konferenceartikel i proceeding › Forskning › peer review

TY - GEN

T1 - Evaluating the Value of Flexibility in Energy Regulation Markets

AU - Neupane, Bijay

AU - Pedersen, Torben Bach

AU - Thiesson, Bo

PY - 2015/7

Y1 - 2015/7

N2 - In this paper, we perform an econometric analysis on the benefits of introducing flexibility in the Danish/Nordic regulating power market. The paper investigates the relationships between market power prices and regulation volumes, in order to quantify the effects of flexibility on regulating power prices. Further, we analyze the benefit for various types of flexibility and market objectives, to detect the type of energy flexibility that maximizes the benefits. Results show that if 3.87% of total demand is flexible, market can reduce the regulation cost by 49% and the regulation volume by 29.4%.

AB - In this paper, we perform an econometric analysis on the benefits of introducing flexibility in the Danish/Nordic regulating power market. The paper investigates the relationships between market power prices and regulation volumes, in order to quantify the effects of flexibility on regulating power prices. Further, we analyze the benefit for various types of flexibility and market objectives, to detect the type of energy flexibility that maximizes the benefits. Results show that if 3.87% of total demand is flexible, market can reduce the regulation cost by 49% and the regulation volume by 29.4%.

KW - Econometric analysis

KW - Flexibility

KW - Demand management

U2 - 10.1145/2768510.2768540

DO - 10.1145/2768510.2768540

M3 - Article in proceeding

SN - 978-1-4503-3609-3

SP - 131

EP - 140

BT - Proceedings of the 2015 ACM Sixth International Conference on Future Energy Systems

PB - Association for Computing Machinery

T2 - Sixth ACM International Conference on Future Energy Systems

Y2 - 14 July 2015 through 17 July 2015

ER -

Evaluating the Value of Flexibility in Energy Regulation Markets

Abstrakt

Konference

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