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Energy markets - flexibility for markets and grids

Energy markets - flexibility for markets and grids

Energy markets - flexibility for markets and grids

The integration of partially subsidized energy products as well as the market entry of new players in the energy industry (democratization) led to fundamental changes in the validity of traditional business models of energy utilities.
The scope of services in "Flexibility for Markets and Grids" consists of portfolio optimization for generation and flexibility use options, short- and medium-term energy price forecasts, and cost-benefit analyses of energy-related business models.

Context, methods and expertise

  • Portfolio optimization (considering technical and economic characteristics, electricity markets, etc.) using Python/Gurobi (MILP, nonlinear optimization)
  • Regulatory framework for combined use of flexibility for markets and grids ("traffic light system")
  • Economic evaluation and business models and investment decisions for prosumers
  • Optimization by considering historical data as well as future power system assessments and price forecasts
  • Co-simulation with flexibility
  • Assessing the value of renewable generation and fexibility in current and future electricity markets

 

Objectives, methods and tool development

  • Identification and evaluation of the economic feasibility of flexibility options (e.g. in district heating networks)
  • Analysis and implementation of flexibilities (e.g., batteries) and cross-sector components such as heat pumps
  • Identification of business models and cost-benefit analysis for demand response, smart meters, etc.
  • Optimal investment decisions taking risk management into account
  • Optimization of the aggregator portfolio for prosumers
  • Statistical analysis tool to assess synergies between new smart energy products and flexibility services (e.g., electric vehicles, heat pumps)

Relevance

  • Decarbonization requires the use of large flexibility potentials, and therefore flexibility is a key property of the future energy system to cope with large-scale integration of fluctuating renewables.
  • Ongoing integration into balancing and spot markets, minimizing the cost of balancing imbalances.
  • Increasing self-consumption of PV and optimal combination of multiple flexibility options.
  • Grid-friendly market-oriented flexibility as well as necessary support of flexibilities for the distribution grid

Our services

  • Evaluation of flexibility potentials and optimization for participation in energy markets
  • Development of business models, cost-benefit calculations, and tools and services to support investment decisions
  • Regulatory support for flexible business models