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Publikācija: Case Study - Assessing Economic Potential for Demand Response in Baltic Balancing Market

Publication Type Full-text conference paper published in conference proceedings indexed in SCOPUS or WOS database
Funding for basic activity Contract research work
Defending: ,
Publication language English (en)
Title in original language Case Study - Assessing Economic Potential for Demand Response in Baltic Balancing Market
Field of research 2. Engineering and technology
Sub-field of research 2.2 Electrical engineering, Electronic engineering, Information and communication engineering
Research platform None
Authors Līga Kurevska
Gatis Junghāns
Antans Sauļus Sauhats
Zane Broka
Kārlis Baltputnis
Valentīns Lavrinovičs
Keywords aggregation, balancing market, demand response, economic analysis, mFRR
Abstract Demand response integration in balancing energy markets can provide significant financial savings for grid operators and market participants and promote optimal resource allocation. To facilitate demand response participation in power system balancing, the service must not only provide economic gains for the existing market participants, but it also has to present a viable business case for demand response service providers. Currently, in the Baltic states, there is no demand side participation in balancing markets. To support balancing market development, we analysed the economic potential of demand response for service providers. To forecast market conditions, we employed stochastic simulations for energy market prices and balancing product activation. Furthermore, to calculate the economic gains of a service provider, we used technical parameters of fridges obtained in a demand response pilot study and the demand response aggregation settlement model proposed by the Baltic TSOs and Finnish TSO. The preliminary results suggest sufficient financial incentives for future investments.
DOI: 10.1109/RTUCON.2018.8659901
Hyperlink: https://ieeexplore.ieee.org/document/8659901 
Reference Kurevska, L., Junghāns, G., Sauhats, A., Broka, Z., Baltputnis, K., Lavrinovičs, V. Case Study - Assessing Economic Potential for Demand Response in Baltic Balancing Market. In: 2018 IEEE 59th International Scientific Conference on Power and Electrical Engineering of Riga Technical University (RTUCON 2018), Latvia, Riga, 12-14 November, 2018. Piscataway, NJ: IEEE, 2018, pp.257-261. ISBN 978-1-5386-6904-4. e-ISBN 978-1-5386-6903-7. Available from: doi:10.1109/RTUCON.2018.8659901
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