Abstract
Recently, the volatility associated with marginal prices has increased due to large scale integration of renewable generation. Price volatility is undesirable from a consumer perspective. To address this issue, we present a framework for hedging that uses duality theory for quantifying the amount of demand-side flexibility required for constraining marginal prices to the consumers maximum willingness to pay for electricity. Using our formulation, we investigate the ability of an Energy Storage System (ESS), as a demand-side flexibility source, to hedge against electricity price volatility across a multi-time period horizon while accounting for its intertemporal constraints. Additionally, we analyze the economical benefit that operating the ESS under information forecasts brings to the consumers.
Original language | English |
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Title of host publication | 2019 IEEE Power and Energy Society General Meeting, PESGM 2019 |
Publisher | IEEE |
Number of pages | 5 |
Volume | 2019-August |
ISBN (Electronic) | 9781728119816 |
DOIs | |
Publication status | Published - 2019 |
Event | 2019 IEEE Power and Energy Society General Meeting, PESGM 2019 - Atlanta, United States Duration: 4 Aug 2019 → 8 Aug 2019 http://www.pes-gm.org/2019/ |
Conference
Conference | 2019 IEEE Power and Energy Society General Meeting, PESGM 2019 |
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Abbreviated title | PESGM 2019 |
Country/Territory | United States |
City | Atlanta |
Period | 4/08/19 → 8/08/19 |
Internet address |