R&D NESTER PRESENTS RESULTS ON “AGGREGATED DEMAND-SIDE FLEXIBILITY PARTICIPATION IN THE ELECTRICITY SPOT MARKET”

R&D Nester presented the paper entitled "Distributionally Robust Bidding Strategies for Aggregated Demand-side Flexibility" at the 7th International Conference on Smart Energy Systems and Technologies, SEST 2024, held at the Politecnico di Torino in Turin, Italy.
SEST 2024 has the motto "Driving the advances for future electrification" and focuses in particular on research topics concerning the role of electricity in the path towards a sustainable energy transition. The trend to provide more efficient and competitive technologies and electricity services to support decarbonization, energy system integration and progressively higher involvement of the users requires further steps to guarantee security, reliability, safety, resilience, and privacy of the applications. In this context, the SEST 2024 conference intends to offer a meeting point for scientists and operators working in universities, research institutions, industry and public bodies, to exchange ideas and knowledge on new technologies and applications and discuss the latest developments in the electrical energy system field.
Aiming at producing optimal bids from aggregated distributed energy resources in the electricity spot market, the paper presents a risk-based approach exploiting a two-stage framework based on a linear programming approach to deal with uncertainties in renewable energy production and spot prices, while incorporating the risk of grid constraint violation through distributionally robust optimization. The methodology leveraged R&D's NESTER Real Time Power System Simulation laboratory to realistically emulate the operation of aggregated distributed energy resources. This approach facilitates the simulation of the seamless integration of aggregated demand-side flexibility with energy markets, enabling the development and testing of strategies for optimal resource management, while ensuring compliance with network constraints and, thus, improving the reliability of the aggregated demand-side flexibility in the electricity market.
The paper presented by R&D Nester was produced in the scope of its 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:
AGGREGATION Project @ R&D Nester website