Reinforcement Learning Methodology for Electricity Market Simulation

This work seeks to resolve an outstanding problem in the use of reinforcement-learning methods for the simulation of economically-rational agents. We discuss the problem of non-stationarity, and how this subsequently limits market simulation capabilities. After explicating and isolating the source of the problem for a day-ahead electricity...

Myopic Optimisation of Generation and Storage Investment for Long-Term Electricity System Planning

<br/>Power system planning is a strenuous exercise for both people and computers. As carbon goals and geopolit- ical complexities intensify, the number of scenarios for electricity system development is limitless. In search of robust policy and profitable investments, policymakers and investment managers rely on long-term elec- tricity system...

Distributed energy resources for congestion management in the Dutch electricity system: An integrated perspective to improve current market-based redispatch

Rapid intake of intermittent generation units, more decentralised production and electrification of demand impose serious challenges on transmission- and distribution electricity grids. Part of this challenge is an increasing amount of congestion on the grids. The Dutch redispatch market for congestion management needs to be adapted to include...

Electricity Markets for DC Distribution Systems: Locational Pricing Trumps Wholesale Pricing

DC distribution systems are a promising alternative to existing AC distribution systems. They connect customers to local energy sources without conversion, thus reducing power losses. However, the unique features of DC impose strict requirements for system operation compared to AC. Within the context of a liberalized energy market, this...

Offshore wind + Energy Storage: Selection and design of energy storage for the integration of offshore wind energy in the future Dutch electricity system

The Dutch government has set out to largely reach reductions in carbon emissions in the electricity sector with the utilization of offshore wind energy. Due to the intermittency of wind energy this poses new problems and challenges for the future electricity system in the Netherlands. The objective of this report is to identify the challenges...

The Lebanese Electricity Sector: A Novel Polycentric Design

This paper presents a new theoretical approach to design a polycentric electricity sector. The study focuses on Lebanon and its electricity sector, and tries to reform the sector using a proposed polycentric structure. The study utilises the polycentric indicators and general structure, along with organisational modes, and electricity market...

Markets for Direct Current Distribution Systems: Towards Energy-based vs Flex-based Designs

Direct Current Distribution System (DCDS), a promising alternative to existing AC systems, connect customers to DC energy sources without AC/DC conversion. The unique features of DC, including the power-voltage coupling effect, impose different requirements to DCDS operation compared to AC. Addressing a liberalized energy market, this paper...

Why fully liberalised electricity markets will fail to meet deep decarbonisation targets even with strong carbon pricing

Full decarbonisation of the electricity system is one of the key elements to limit global warming. As this transition takes place, the electricity system must maintain system adequacy and remain affordable to consumers. In liberalised electricity markets investors are seen as key actors driving this transition. Due to the intermittent...

Electricity Markets for DC Distribution Systems: Design Options

DC distribution systems (DCDSs) are a promising alternative to AC systems because they remove AC-DC conversions between renewable sources and loads. Their unique features compared to AC include low system inertia, strict power limits and power–voltage coupling. In a liberalised electricity market, merely applying an AC market design to a DCDS...

How Renewable Energy is Reshaping Europe’s Electricity Market Design

We present a systematic review of the challenges to the regulation of electricity markets that are posed by the integration of variable renewable energy sources. System integration is the key to developing the required flexibility, because flexibility options exist at all system levels and within the competitive as well as in the regulated ...

Electricity Market for Direct Current Distribution Systems: Exploring the Design Space

Direct current distribution systems (DCDS), which connect local prosumers directly to community grids without AC/DC conversions, are a promising alternative to AC systems. While regulations call for market-based operation, existing markets for AC systems do not meet DC requirements and cannot be applied to a DCDS. This paper develops a design...

PV prosumers in the Dutch electricity market: A transaction cost perspective to sketch a future market design

PV prosumers could have a significant contribution to the 20/20/20 goals, but the Dutch electricity system is not equipped for this. The current net metering policy has an uncertain future and net metering takes away the time dependent, system critical, component of the balance of demand and supply for prosumers. An integrated transaction cost...