{"title":"Long-term electricity market agent based model validation using genetic algorithm based optimization","authors":"Alexander J. M. Kell, M. Forshaw, S. McGough","doi":"10.1145/3396851.3397682","DOIUrl":"https://doi.org/10.1145/3396851.3397682","url":null,"abstract":"Electricity market modelling is often used by governments, industry and agencies to explore the development of scenarios over differing timeframes. For example, how would the reduction in cost of renewable energy impact investments in gas power plants or what would be an optimum strategy for carbon tax or subsidies? Cost optimization based solutions are the dominant approach for understanding different long-term energy scenarios. However, these types of models have certain limitations such as the need to be interpreted in a normative manner, and the assumption that the electricity market remains in equilibrium throughout. Through this work, we show that agent-based models are a viable technique to simulate decentralised electricity markets. The aim of this paper is to validate an agent-based modelling framework to increase confidence in its ability to be used in policy and decision making. Our framework can model heterogeneous agents with imperfect information. The model uses a rules-based approach to approximate the underlying dynamics of a real world, decentralised electricity market. We use the UK as a case study, however, our framework is generalisable to other countries. We increase the temporal granularity of the model by selecting representative days of electricity demand and weather using a k-means clustering approach. We show that our framework can model the transition from coal to gas observed in the UK between 2013 and 2018. We are also able to simulate a future scenario to 2035 which is similar to the UK Government, Department for Business and Industrial Strategy (BEIS) projections. We show a more realistic increase in nuclear power over this time period. This is due to the fact that with current nuclear technology, electricity is generated almost instantaneously and has a low short-run marginal cost [13].","PeriodicalId":442966,"journal":{"name":"Proceedings of the Eleventh ACM International Conference on Future Energy Systems","volume":"68 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123662311","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Energy Storage as Public Asset","authors":"Jiasheng Zhang, Nan Gu, Chenye Wu","doi":"10.1145/3396851.3397760","DOIUrl":"https://doi.org/10.1145/3396851.3397760","url":null,"abstract":"Energy storage has exhibited great potential in providing flexibility in power system to meet critical peak demand and thus reduce the overall generation cost, which in turn stabilizes the electricity prices. In this work, we exploit the opportunities for the independent system operator (ISO) to invest and manage storage as public asset, which could systematically provide benefits to the public. Assuming a quadratic generation cost structure, we apply parametric analysis to investigate the ISO's problem of economic dispatch, given variant quantities of storage investment. This investment is beneficial to users on expectation. However, it may not necessarily benefit everyone. We adopt the notion of marginal system cost impact (MCI) to measure each user's welfare and show its relationship with the conventional locational marginal price. We find interesting convergent characteristics for MCI. Furthermore, we perform k-means clustering to classify users for effective user profiling and conduct numerical studies on both prototype and IEEE test systems to verify our theoretical conclusions.","PeriodicalId":442966,"journal":{"name":"Proceedings of the Eleventh ACM International Conference on Future Energy Systems","volume":"58 4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129503110","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Flexible Storage Model for Power Network Optimization","authors":"F. Geth, Carleton Coffrin, D. Fobes","doi":"10.1145/3396851.3402121","DOIUrl":"https://doi.org/10.1145/3396851.3402121","url":null,"abstract":"This paper develops a simple but flexible storage model for use in a variety of multi-period optimal power flow problems. The proposed model is designed for research use in a broad assortment of contexts enabled by the following key features: (i) the model can represent the dynamics of an energy buffer at a wide range of scales, from residential battery storage to grid-scale pumped hydro; (ii) it is compatible with both balanced and unbalanced formulations of the power flow equations; (iii) convex relaxations and linear approximations allow seamless integration of the proposed model into applications where convexity or linearity is required are developed; (iv) a minimalist and standardized data model is presented, to facilitate ease of use by the research community. The proposed model is validated using a proof-of-concept 24h storage scheduling task that demonstrates the value of the model's key features. An open-source implementation of the model is provided as part of the PowerModels and PowerModelsDistribution optimization toolboxes.","PeriodicalId":442966,"journal":{"name":"Proceedings of the Eleventh ACM International Conference on Future Energy Systems","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125013373","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Md Umar Hashmi, Deepjyoti Deka, Lucas Pereira, A. Bušić
{"title":"Energy Storage Optimization for Grid Reliability","authors":"Md Umar Hashmi, Deepjyoti Deka, Lucas Pereira, A. Bušić","doi":"10.1145/3396851.3402123","DOIUrl":"https://doi.org/10.1145/3396851.3402123","url":null,"abstract":"Large scale renewable energy source (RES) integration planned for multiple power grids around the world will require additional resources/reserves to achieve secure and stable grid operations to mitigate the inherent intermittency of RES. In this paper, we present formulations to understand the effect of fast storage reserves in improving grid reliability under different cost functions. Our formulations not only aim to minimize imbalance but also maintain state-of-charge (SoC) of storage. The proposed approaches rely on a macroscopic supply-demand model of the grid with total power output of energy storage as the control variable. We show that accounting for system response due to inertia and local governor response enables a more realistic quantification of storage requirements for damping net load fluctuations. Simulation case studies are embedded in the paper by using datasets from the Elia TSO in Belgium and BPA in the USA. The numerical results benchmark the marginal effect on reliability due to increasing storage size under different system responses and associated cost functions. Further we observe myopic control of batteries proposed approximates deterministic control of batteries for faster time scale reserve operation.","PeriodicalId":442966,"journal":{"name":"Proceedings of the Eleventh ACM International Conference on Future Energy Systems","volume":"358 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-04-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115944641","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Transmission Expansion Planning Using Cycle Flows","authors":"Fabian Neumann, T. Brown","doi":"10.1145/3396851.3397688","DOIUrl":"https://doi.org/10.1145/3396851.3397688","url":null,"abstract":"The common linear optimal power flow (LOPF) formulation that underlies most transmission expansion planning (TEP) formulations uses bus voltage angles as auxiliary optimization variables to describe Kirchhoff's voltage law. As well as introducing a large number of auxiliary variables, the angle-based formulation has the disadvantage that it is not well-suited to considering the connection of multiple disconnected networks. It is, however, possible to circumvent these variables and reduce the required number of constraints by expressing Kirchhoff's voltage law directly in terms of the power flows, based on a cycle decomposition of the network graph. For generation capacity expansion with multi-period LOPF, this equivalent reformulation was shown to reduce solving times by an order of magnitude. Allowing line capacity to be co-optimized in a discrete TEP problem makes it a non-convex mixed-integer problem. This paper develops a novel cycle-based reformulation for the TEP problem with LOPF and compares it to the standard angle-based formulation. The combinatorics of the connection of multiple disconnected networks is formalized for both formulations, a topic which has not received attention in the literature. The cycle-based formulation is shown to conveniently accommodate synchronization options. Since both formulations use the big-M disjunctive relaxation, useful derivations for suitable big-M values are provided. The competing formulations are benchmarked on a realistic generation and transmission expansion model of the European transmission system at varying spatial and temporal resolutions. The cycle-based formulation solves up to 31 times faster for particular cases, while averaging at a speed-up of factor 4.","PeriodicalId":442966,"journal":{"name":"Proceedings of the Eleventh ACM International Conference on Future Energy Systems","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115510593","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Market Power in Convex Hull Pricing","authors":"Jian Sun, Chenye Wu","doi":"10.1145/3396851.3403510","DOIUrl":"https://doi.org/10.1145/3396851.3403510","url":null,"abstract":"The startup costs in many kinds of generators lead to complex cost structures, which in turn yield severe market loopholes in the locational marginal price (LMP) scheme. Convex hull pricing is proposed to improve the market efficiency by providing the minimal uplift payment to the generators. In this paper, we consider a stylized model where all generators share the same generation capacity. We analyze the generators' possible strategic behaviors in such a setting, and then propose an index for market power quantification in the convex hull pricing schemes.","PeriodicalId":442966,"journal":{"name":"Proceedings of the Eleventh ACM International Conference on Future Energy Systems","volume":"155 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134148903","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Optimal Storage Control for Dynamic Pricing","authors":"Jiaman Wu, Zhiqi Wang, Yang Yu, Chenye Wu","doi":"10.1145/3396851.3403507","DOIUrl":"https://doi.org/10.1145/3396851.3403507","url":null,"abstract":"Renewable energy brings huge uncertainties to the power system, which challenges the traditional power system operation with limited flexible resources. One promising solution is to introduce dynamic pricing to more consumers, which, if designed properly, could enable an active demand side. To further exploit flexibility, in this work, we seek to advise the consumers of an optimal online control policy to utilize their storage devices facing dynamic pricing. We prove that using the one-shot load decomposition technique, a simple threshold policy is enough to achieve the online optimality. Towards designing a more adaptive control policy, we devise a data-driven approach to estimating the price distribution.","PeriodicalId":442966,"journal":{"name":"Proceedings of the Eleventh ACM International Conference on Future Energy Systems","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128897326","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}