Dynamic pricing in highly distributed power systems of the future

Author

Kockar, I. ; Papadaskalopoulos, D. ; Strbac, G. ; Pudjianto, D. ; Galloway, S. ; Burt, G.

Author_Institution

Dept. of Electron. & Electr. Eng., Univ. of Strathclyde, Glasgow, UK

fYear

2011

Firstpage

1

Lastpage

4

Abstract

Existing energy systems and markets are characterized by a relatively small number of participants interacting in high-volume wholesale markets with end-users mainly participating in separate retail markets. This paper presents a work which aims to develop a Distributed Energy Market that brings together all participants in an integrated real-time marketplace. Operation in such markets will be based on dynamic pricing of various services, starting from energy generation, ancillary services and active demand participations. For this operation, new market and businesses models and rules need to be developed and tested.

Keywords

power markets; power system economics; pricing; active demand participations; ancillary services; business model; distributed energy market; dynamic pricing; energy generation; high-volume wholesale markets; highly-distributed power systems; integrated real-time marketplace; market model; retail markets; Distributed power generation; Educational institutions; Electricity; Home appliances; Power system dynamics; Pricing; decentralized operation; dynamic pricing; electricity markets;

fLanguage

English

Publisher

ieee

Conference_Titel

Power and Energy Society General Meeting, 2011 IEEE

Conference_Location

San Diego, CA

ISSN

1944-9925

Print_ISBN

978-1-4577-1000-1

Electronic_ISBN

1944-9925

Type

conf

DOI

10.1109/PES.2011.6039761

Filename

6039761