Framework to Evaluate Power Portfolio Dispatch Considering Balancing Market Participation

Conference paper (2021)

Authors

Alejandro Vas-Corrales Eindhoven University of Technology
Phuong Nguyen Eindhoven University of Technology
P.P. Vergara Barrios Intelligent Electrical Power Grids - EEMCS
Wouter Schoot Det Norske Veritas
Lennart Söder KTH Royal Institute of Technology
Research Group
Intelligent Electrical Power Grids (EEMCS) (TU Delft)
Copyright: © 2021 Alejandro Vas-Corrales, Phuong Nguyen, P.P. Vergara Barrios, Wouter Schoot, Lennart Soder
DOI: https://doi.org/10.1109/PowerTech46648.2021.9494917
Balancing markets Receding horizon control Power balance Power portfolio management Predictive dispatch optimization
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Published Date

2021

Language

English

Reuse Rights

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Faculty

Electrical Engineering, Mathematics and Computer Science

Department

Electrical Sustainable Energy

Research Group

Intelligent Electrical Power Grids

Abstract

The power grid is rapidly experiencing a transformation driven by renewable and climate targets which pose a huge challenge to maintain the system stability and reliability, thus balancing services become more crucial now than ever. To provide balancing services in a cost-efficient way, it is necessary to develop predictive models which can optimize power portfolio in an online manner. This paper presents the development of an Online Predictive Dispatch Optimizer and its connection with a grid model that simulates power and frequency control within interconnected power systems. The performance of the dispatch optimizer and its connection with the grid model is tested by simulating several cases where the adequacy of the model is confirmed, especially regarding its ability to manage energy imbalance in real-time. The outcomes and flexibility of this framework can be used to quantitatively evaluate the operation of power portfolio owners in the power grid.