Imperial College London
Alternate

Professor Goran Strbac

Faculty of Engineering, Department of Electrical and Electronic Engineering

Chair in Electrical Energy Systems
 
 
 
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Contact

 

+44 (0)20 7594 6169g.strbac

 
 
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Assistant

 

Miss Guler Eroglu +44 (0)20 7594 6170

 
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Location

 

1101Electrical EngineeringSouth Kensington Campus

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Summary

 

Publications

Citation

BibTex format

@article{Oderinwale:2020:10.1016/j.ijepes.2020.105881,
author = {Oderinwale, T and Papadaskalopoulos, D and Ye, Y and Strbac, G},
doi = {10.1016/j.ijepes.2020.105881},
journal = {International Journal of Electrical Power & Energy Systems},
pages = {105881--105881},
title = {Investigating the impact of flexible demand on market-based generation investment planning},
url = {http://dx.doi.org/10.1016/j.ijepes.2020.105881},
volume = {119},
year = {2020}
}
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RIS format (EndNote, RefMan)

TY  - JOUR
AB  - Demand flexibility has attracted significant interest given its potential to address techno-economic challenges associated with the decarbonisation of electricity systems. However, previous work has investigated its long-term impacts through centralized generation planning models which do not reflect the current deregulated environment. At the same time, existing market-based generation planning models are inherently unable to capture the demand flexibility potential since they neglect time-coupling effects and system reserve requirements in their representation of the electricity market. This paper investigates the long-term impacts of demand flexibility in the deregulated environment, by proposing a time-coupling, bi-level optimization model of a self-interested generation company’s investment planning problem, which captures for the first time the energy shifting flexibility of the demand side and the operation of reserve markets with demand side participation. Case studies investigate different cases regarding the flexibility of the demand side and different market design options regarding the allocation of reserve payments. The obtained results demonstrate that, in contrast with previous centralised planning models, the proposed model can capture the dependency of generation investment decisions and the related impacts of demand flexibility on the electricity market design and the subsequent strategic response of the self-interested generation company.
AU  - Oderinwale,T
AU  - Papadaskalopoulos,D
AU  - Ye,Y
AU  - Strbac,G
DO  - 10.1016/j.ijepes.2020.105881
EP  - 105881
PY  - 2020///
SN  - 0142-0615
SP  - 105881
TI  - Investigating the impact of flexible demand on market-based generation investment planning
T2  - International Journal of Electrical Power & Energy Systems
UR  - http://dx.doi.org/10.1016/j.ijepes.2020.105881
UR  - http://hdl.handle.net/10044/1/86321
VL  - 119
ER  -
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