Financial viability of the aggregators participation in the regulation reserve market

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dc.contributor.authorSantos, Sérgio F.
dc.contributor.authorGough, Matthew
dc.contributor.authorFerreira, João P. D.
dc.contributor.authorJavadi, Mohammad
dc.contributor.authorVafamand, N.
dc.contributor.authorArefi, M. N.
dc.contributor.authorCatalão, João P. S.
dc.contributor.authorOsório, Gerardo J.
dc.contributor.authorSantos, Sérgio F.
dc.date.accessioned2022-02-01T15:05:59Z
dc.date.available2022-02-01T15:05:59Z
dc.date.issued2021-09
dc.description.abstractThere is an urgent need to reduce the combustion of fossil fuels and replace these sources with renewable energy sources. The two major renewable energy resources, solar PV and wind generation, are variable. This variability makes balancing the electrical system more difficult. One way to manage this volatile system is to use markets for ancillary services to ensure that the electrical grid can operate in a safe, efficient and reliable manner. This paper proposes a methodology for a group of smaller consumers to be aggregated together so that they can effectively bid into markets for ancillary services. The methodology is tested on the Portuguese reserve regulation market and the financial viability of such aggregation is explored. Results show that aggregating consumer bids for downward regulation services can be financially viable in the Portuguese market. Reducing the minimum bid size increased the participation of the consumers thus increasing revenues.pt_PT
dc.identifier.citationSantos, S. F., Gough, M., Ferreira, J. P. D., Javadi, M., Osório, G. J., Vafamand, N., Arefi, N., & Catalão, J. P. S. (2021). Financial viability of the aggregators participation in the regulation reserve market. In Proceedings of the 21th IEEE International Conference on Environment and Electrical Engineering and 5th IEEE Industrial and Commercial Power Systems Europe (EEEIC 2021 / I&CPS Europe 2021), Bari, Italy, 7-10 September 2021 (pp. 1-6). doi: 10.1109/EEEIC/ICPSEurope51590.2021.9584599. Disponível no Repositório UPT, http://hdl.handle.net/11328/3922pt_PT
dc.identifier.doi10.1109/EEEIC/ICPSEurope51590.2021.9584599pt_PT
dc.identifier.isbn978-1-6654-3613-7
dc.identifier.urihttp://hdl.handle.net/11328/3922
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherIEEEpt_PT
dc.relation.publisherversionhttps://doi.org/10.1109/EEEIC/ICPSEurope51590.2021.9584599pt_PT
dc.rightsrestricted accesspt_PT
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/pt_PT
dc.subjectAggregatorspt_PT
dc.subjectAncillary servicespt_PT
dc.subjectElectricity marketpt_PT
dc.subjectRenewable energypt_PT
dc.subjectReserve regulationpt_PT
dc.titleFinancial viability of the aggregators participation in the regulation reserve marketpt_PT
dc.typeconferenceObjectpt_PT
degois.publication.firstPage1pt_PT
degois.publication.lastPage6pt_PT
degois.publication.locationBari, Italy, 7-10 September, 2021pt_PT
degois.publication.titleProceedings of the 21th IEEE International Conference on Environment and Electrical Engineering and 5th IEEE Industrial and Commercial Power Systems Europe (EEEIC 2021 / I&CPS Europe 2021)pt_PT
dspace.entity.typePublicationen
person.affiliation.nameREMIT – Research on Economics, Management and Information Technologies
person.affiliation.nameREMIT – Research on Economics, Management and Information Technologies
person.familyNameOsório
person.familyNameSantos
person.givenNameGerardo J.
person.givenNameSérgio F.
person.identifier.ciencia-idBD19-D0AD-65DB
person.identifier.ciencia-idE41A-D6C6-E3D7
person.identifier.gsidt13DoaMAAAAJ
person.identifier.orcid0000-0001-8328-9708
person.identifier.orcid0000-0003-3277-2833
person.identifier.ridC-3616-2014
person.identifier.ridGNM-6353-2022
person.identifier.scopus-author-id54783251300
person.identifier.scopus-author-id56483358000
relation.isAuthorOfPublication7ce5da40-610d-4361-a87f-5cbdfe392256
relation.isAuthorOfPublicationd0a5755c-d682-4ead-bf2a-ce1ad6c63ede
relation.isAuthorOfPublication.latestForDiscovery7ce5da40-610d-4361-a87f-5cbdfe392256

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