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Analytical Framework for Market-oriented DSR Flexibility Integration and Management
Department of Electrical Engineering, Technical University of Denmark, Lyngby, Denmark
Department of Electrical Engineering, Technical University of Denmark, Lyngby, Denmark
Department of Electrical Engineering, Technical University of Denmark, Lyngby, Denmark
Department of Electrical Engineering, Technical University of Denmark, Lyngby, Denmark
- 1 Department of Electrical Engineering, Technical University of Denmark, Lyngby, Denmark
- 2 Department of Electrical Engineering, Technical University of Denmark, Lyngby, Denmark
- 3 Department of Electrical Engineering, Technical University of Denmark, Lyngby, Denmark
- 4 Department of Electrical Engineering, Technical University of Denmark, Lyngby, Denmark
Energy and Power Engineering·Volume 05 (2013)·Pages 1367–1371·Published 30 June 2013·DOI10.4236/epe.2013.54B259
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Abstract
Integration and management of the flexibility of Demand Side Resources (DSR) in today’s energy systems plays a significant role in building up a sustainable society. However, the challenges of understanding, predicating and handling the uncertainties associated this subject to a great extent hamper its development. In this paper, an analytical framework based on a multi-portfolio setup in presence of a deregulated power market is proposed to address such challenges by adopting the thinking in modern portfolio theory (MPT). A Numerical example that targets on analyzing the risk and return for various flexibility pricing strategies are presented to illustrate some features of the framework.
KeywordsAnalytical FrameworkDistributed Energy ResourcesFlexiblityDeregulated Power MarketMorden Portfolio TheoryRisk and Return
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