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This paper proposes a framework to select the best-suited battery for co-optimizing for peak demand shaving, energy arbitrage and increase self-sufficiency in the context of power network in Madeira, Portugal. Feed-in-tariff for electricity…

The increasing penetration of renewable energy sources introduces significant challenges to power grid stability, primarily due to their inherent variability. A new opportunity for grid operation is the smart integration of electricity…

The advent of more proactive consumers, the so-called "prosumers", with production and storage capabilities, is empowering the consumers and bringing new opportunities and challenges to the operation of power systems in a market…

We show how to value both variable generation and energy storage to enable them to be integrated fairly and optimally into electricity capacity markets. We develop theory based on balancing expected energy unserved against costs of capacity…

High shares of variable renewable energy necessitate substantial energy storage capacity. However, it remains unclear how to design a market that, on the one hand, ensures a stable and sufficient income for storage firms, and, on the other…

Residential electric vehicle charging causes large spikes in electricity demand that risk violating neighborhood transformer power limits. Battery energy storage systems reduce these transformer limit violations, but operating them…

An increasing number of retail energy markets show price fluctuations, providing users with the opportunity to buy energy at lower than average prices. We propose to temporarily store this inexpensive energy in a battery, and use it to…

This paper proposes a general and practical approach to estimate the economic benefits of optimally controlling deferrable loads in a Distribution System Operator's (DSO) grid, without relying on historical observations. We achieve this by…

Digitalization and sector coupling enable companies to turn into flexumers. By using the flexibility of their multi-energy system (MES), they reduce costs and carbon emissions while stabilizing the electricity system. However, to identify…

We propose an enhancement to wholesale electricity markets whereby the exposure of consumers to increasingly large and volatile consumer payments arising as a byproduct of volatile real-time net loads -- i.e., loads minus renewable outputs…

To enable an efficient electricity market, a good pricing scheme is of vital importance. Among many practical schemes, customized pricing is commonly believed to be able to best exploit the flexibility in the demand side. However, due to…

Distributed energy resources are an ideal candidate for the provision of additional flexibility required by power system to support the increasing penetration of renewable energy sources. The integrating large number of resources in the…

As variable renewable energy sources comprise a growing share of total electricity generation, energy storage technologies are becoming increasingly critical for balancing energy generation and demand. In this study, we modeled an existing…

Demand Response is an emerging technology which will transform the power grid of tomorrow. It is revolutionary, not only because it will enable peak load shaving and will add resources to manage large distribution systems, but mainly…

The deepening of the penetration of renewable energy is challenging how power system operators cope with their associated variability and uncertainty. The inherent flexibility of dispathchable assets present in power systems, which is often…

Flexibility is a key enabler for the smart grid, required to facilitate Demand Side Management (DSM) programs, managing electrical consumption to reduce peaks, balance renewable generation and provide ancillary services to the grid.…

Electricity price forecasting supports decision-making in energy markets and asset operation. Probabilistic forecasts are increasingly adopted to explicitly quantify uncertainty, typically issued as quantile predictions or ensembles of the…

Time-varying electricity pricing better reflects the varying cost of electricity compared to flat-rate pricing. Variations between peak and off-peak costs are increasing due to weather variation, renewable intermittency, and increasing…

With the development of the smart grid concept and the increasing expansion of advanced communication and measurement equipment, consumers can actively participate in the power system operation. The intelligent use of these facilities…

Large, spatially flexible electricity consumers such as data centers can reallocate demand across locations, influencing dispatch and prices in wholesale electricity markets. While flexible load is often assumed to improve system…