Integration of partly subsidized energy products as well as market entry of new actors in the energy business (democratization) led to fundamental changes in the validity of traditional energy utilities business models.
Scope of the work in Flexibility for Markets and Grids consists of portfolio optimization for generation and flexibility utilization options, short- and medium-term energy price forecasting and cost-benefit analysis of energy related business models.
CONTEXT, METHODS AND EXPERTISE
Portfolio-optimization (considering technical and economic characteristics, electricity markets etc.) with Python/Gurobi (MILP, non-linear optimization)
- Regulatory framework for combined usage of flexibility for markets and grids (“traffic light system”)
- Economic assessment and business models and investment decisions for prosumers
- Optimization by considering historical data as well as future energy systems assessments and price forecasts
- Co-Simulation with flexibility
- Assessing the value of renewable generation and fexilbity in current and future electricty markets
TARGETS, 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 like heat pumps
- Business models identification and cost benefit analysis for demand response, smart meter, etc.
- Optimal investments decisions considering risk management
- Aggregator portfolio optimisation for prosumers
- Statistical analysis tool to evaluate the synergies between new smart energy products and flexibility services (e.g. electric vehicles, heat pumps)
Decarbonization requires the utilization of large flexibility potentials and therefore flexibility is a key property of the future energy system to cope with the large-scale integration of fluctuating renewables
- On-going integration into balancing and spot markets, minimisation of imbalance settlement costs
- Increasing self-consumption of PV and optimal combination of several flexibility options
- Grid friendly market-oriented flexibility as well as necessary support of flexibilities for the distribution grid
- Evaluating flexibility potentials and optimization for participating on energy markets
- Development of business models, calculation of cost-benefits and investment decision support tools and services
- Regulatory support for flexibility business models