Related papers: The Value of Ancillary Services for Electrolyzers
As the proportion of total power supplied by renewable sources increases, it gets more costly to use reserve generation to compensate for the variability of renewables like solar and wind. Hence attention has been drawn to exploiting…
The participation of electric vehicle (EV) aggregators in real-time electricity markets offers promising revenue opportunities through price-responsive energy arbitrage. A central challenge in economic bidding lies in quantifying the…
The increasing integration of distributed energy resources (DERs) into power systems presents opportunities and challenges for ancillary services (AS) provision. Technical requirements of existing AS (i.e., duration, reliability, ramp rate,…
Recently, chance-constrained stochastic electricity market designs have been proposed to address the shortcomings of scenario-based stochastic market designs. In particular, the use of chance-constrained market-clearing avoids trading off…
Potential of electrical loads in providing grid ancillary services is often limited due to the uncertainties associated with the load behavior. A knowledge of the expected uncertainties with a load control program would invariably yield to…
A key factor in reducing the cost of green hydrogen production projects using water electrolysis systems is to minimize the degradation of the electrolyzer stacks, as this impacts the lifetime of the stacks and therefore the frequency of…
The price of electricity is far more volatile than that of other commodities normally noted for extreme volatility. Demand and supply are balanced on a knife-edge because electric power cannot be economically stored, end user demand is…
Reliability Options are capacity remuneration mechanisms aimed at enhancing security of supply in electricity systems. They can be framed as call options on electricity sold by power producers to System Operators. This paper provides a…
The integration of renewable generation poses operational and economic challenges for the electricity grid. For the core problem of power balance, the legacy paradigm of tailoring supply to follow random demand may be inappropriate under…
Flexibility options, such as demand response, energy storage and interconnection, have the potential to reduce variation in electricity prices between different future scenarios, therefore reducing investment risk. Moreover, investment in…
Renewable power-to-hydrogen (ReP2H) enables large-scale renewable energy utilization and supports the decarbonization of hard-to-abate sectors, such as chemicals and maritime transport, via hydrogen-based renewable ammonia and methanol…
We propose an extended demand response program, based on ancillary service for supplying flexible electricity demand. In our proposed scheme, we suggest a broader management model to control the scheduling and power consumption of Bitcoin…
Securing an adequate supply of dispatchable resources is critical for keeping a power system reliable under high penetrations of variable generation. Traditional resource adequacy mechanisms are poorly suited to exploiting the growing…
An important revenue stream for electric battery operators is often arbitraging the hourly price spreads in the day-ahead auction. The optimal approach to this is challenging if risk is a consideration as this requires the estimation of…
Low levels of system inertia in power grids with significant penetration of non-synchronous Renewable Energy Sources (RES) have increased the risk of frequency instability. The provision of a certain type of ancillary services such as…
As the share of variable renewable energy sources increases in the electricity mix, new solutions are needed to build a flexible and reliable grid. Energy arbitrage with battery storage systems supports renewable energy integration into the…
Shift of the power system generation from the fossil to the variable renewable sources prompted the system operators to search for new sources of flexibility, that is, new reserve providers. With the introduction of electric vehicles, smart…
Reduced installation and operating costs give energy storage systems an opportunity to participate actively and profitably in electricity markets. In addition to providing ancillary services, energy storage systems can also arbitrage…
The integration of renewable sources poses challenges at the operational and economic levels of the power grid. In terms of keeping the balance between supply and demand, the usual scheme of supply following load may not be appropriate for…
This paper investigates how a thermostatically controlled load can deliver flexibility either in form of manual frequency restoration reserves (mFRR) or load shifting, and which one is financially more appealing to such a load. A…