Incentivizing renewables and reducing grid imbalances through market interaction

A forecasting and control approach

Doctoral thesis (2020)

Authors

Jesus Lago Team Bart De Schutter - Mechanical, Maritime and Materials Engineering
Research Group
Team Bart De Schutter (Mechanical, Maritime and Materials Engineering) (TU Delft)
Copyright: © 2020 Jesus Lago
DOI: https://doi.org/10.4233/uuid:db706644-1397-4e97-99a1-6ed748fe4ed4
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Published Date

2020

Language

English

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Faculty

Mechanical, Maritime and Materials Engineering

Department

Delft Center for Systems and Control

Research Group

Team Bart De Schutter

Abstract

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.