Evaluating the Value of Flexibility in Energy Regulation Markets

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13 Citations (Scopus)

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%.
Original languageEnglish
Title of host publicationProceedings of the 2015 ACM Sixth International Conference on Future Energy Systems
Number of pages10
PublisherAssociation for Computing Machinery
Publication dateJul 2015
Pages131-140
ISBN (Print)978-1-4503-3609-3
DOIs
Publication statusPublished - Jul 2015
EventSixth ACM International Conference on Future Energy Systems - Bengalore, India
Duration: 14 Jul 201517 Jul 2015
http://conferences.sigcomm.org/eenergy/2015/

Conference

ConferenceSixth ACM International Conference on Future Energy Systems
Country/TerritoryIndia
CityBengalore
Period14/07/201517/07/2015
Internet address

Keywords

  • Econometric analysis
  • Flexibility
  • Demand management

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