Summary
As the electricity grid evolves to incorporate higher penetration levels of intermittent and inflexible sources, the real-time mismatch between supply and demand will increase dramatically. The key market instrument to resolve these mismatches is the balancing mechanism, providing a means for the system operator to contract market participants to achieve system balance, and to reconcile and settle between stakeholders after the event. Crucially, prices within balancing mechanisms are expected to increase dramatically as the broader power system decarbonises. This situation offers a great opportunity for decentralised energy resources, which may be able to provide the required generation or demand from a large number of aggregated small-scale resources. This work aims to present the evidence on decentralised participation in balancing markets, and go on to model the price in balancing markets in future grid decarbonisation scenarios, and the impacts of integrating DERs to help balance power mismatch.
Publications
Journals
Weinstein M, Almulla Y, Vijay A, et al. , 2021, Technoeconomic energy system data for modeling of India and the GCC countries
Vijay A, Hawkes A, 2019, Demand side flexibility from residential heating to absorb surplus renewables in low carbon futures, Renewable Energy: an International Journal, Vol:138, ISSN:0960-1481, Pages:598-609
Vijay A, Hawkes A, 2018, Impact of dynamic aspects on economics of fuel cell based micro co-generation in low carbon futures, Energy, Vol:155, ISSN:0360-5442, Pages:874-886
Vijay A, Hawkes A, 2017, The techno-economics of small-scale residential heating in low carbon futures, Energies, Vol:10, ISSN:1996-1073
Vijay A, Fouquet N, Staffell IL, et al. , 2017, The value of electricity and reserve services in low carbon electricity systems, Applied Energy, Vol:201, ISSN:1872-9118, Pages:111-123