Reduction of price volatility using thermostatically controlled loads in local electricity markets

Price volatility in electricity markets could significantly increase as a result of the increase in demand due to the electrification of heating and transport and intermittent power generation from large scale integration of renewable energy sources. In some parts of the grid, price volatility may be even more extreme due to congestion....

A coordination mechanism for reducing price spikes in distribution grids

Recently, given the increased integration of renewables and growing uncertainty in demand, the wholesale market price has become highly volatile. Energy communities connected to the main electricity grid may be exposed to this increasing price volatility. Additionally, they may also be exposed to local network congestions, resulting in price...

The Role of Demand-Side Flexibility in Hedging Electricity Price Volatility in Distribution Grids

Locational Marginal Price (LMP) is a dual variable associated with supply-demand matching and represents the cost of delivering power to a particular location if the load at that location increases. In recent times it become more volatile due to increased integration of renewables that are intermittent. The issue of price volatility is...

Exploring the profit potential of energy storage in a car park using electrolysis, hydrogen storage and fuel cell electric vehicles

The Car Park as Power Plant (CPPP) is a main business concept related to a future integrated sustainable mobility and energy system in which hydrogen is a key energy carrier. In order to investigate the uncertain profitability of the CPPP concept, an optimisation model has been developed of a CPPP system that includes an electrolyser, a hydrogen...