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R&D NESTER PRESENTED A RISK-AVERSE BIDDING STRATEGY FOR ENERGY COMMUNITY TRADING IN THE SPOT MARKET AT IEEE PES ISGT EUROPE 2024

 

R&D Nester was present in the IEEE PES ISGT Europe 2024 (ISGT Europe 2024) conference organized by IEEE Power & Energy  IEEE Power & Energy Society (PES) and University of Zagreb, Faculty of Electrical Engineering and Computing, held in Dubrovnik, Croatia, from October 14th to 17th, 2024.

The IEEE PES ISGT Europe conference is an IEEE PES flagship conference organized in Europe. The conference theme for the 2024's edition is: "Towards Net-Zero: Integrating Smart Technologies for a Decarbonized Connected Energy Grid". It addresses power grid modernization and the applications for the wide use of information and communication technologies for more intelligent operation of electric power systems and integration of renewable and distributed energy resources. The IEEE PES ISGT Europe 2024 conference feature keynotes, plenary sessions, panels, industry exhibits, paper and poster presentations by worldwide experts on smart grid and related technologies.

In this 2024's edition, R&D Nester presented a paper titled "Risk-Averse Bidding Strategy for Energy Community Trading in the Spot Market". The paper presents a risk-averse bidding strategy designed to optimize the operational planning of aggregated demand-side flexibility, coordinating the peer-to-peer electricity trading with the participation of the energy community in the European day-ahead and intraday markets. The implementation leverages a hardware-in-the-loop simulation platform, where the simulation is structured following to the Smart Grid reference Architecture Model (SGAM). The setup ensures a realistic, flexible, and scalable simulation environment for multi-sized and multi-asset energy communities interacting with energy markets, aiming for optimal resource utilization. A case study based on simulated data from a Portuguese system demonstrates the effectiveness of the proposed approach, highlighting its potential to improve market operations and resource allocation in the face of renewable energy uncertainties. In the paper, R&D Nester details the methodology and presents a practical  design approach.

The content of the paper presented was produced in the scope of the R&D Nester project Aggregation - Research on Key Technologies of Distributed Flexible Resource Aggregation and Optimization for EU Market Operation. The Aggregation project aims to advance technologies for the management and optimization of distributed energy resources (DERs) in the European energy market. This involves developing an aggregation terminal for flexible energy resources and creating models and modules for simulation and hardware-in-the-loop testing to validate the technology's functionality. The project focuses on dynamically managing and controlling distributed flexible resources to enhance the sustainability of the energy communities in the electricity markets.

 

For more information:

IEEE PES ISGT EUROPE 2024

AGGREGATION Project @ R&D Nester website

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