Examining the benefits of load shedding strategies using a rolling-horizon stochastic mixed complementarity equilibrium model
Files in This Item:
|Devine_resubmitted_EJOR-D-16-02503.pdf||831.66 kB||Adobe PDF||Request a copy|
|Title:||Examining the benefits of load shedding strategies using a rolling-horizon stochastic mixed complementarity equilibrium model||Authors:||Devine, Mel T; Bertsch, Valentin||Permanent link:||http://hdl.handle.net/10197/10968||Date:||1-Jun-2018||Online since:||2019-08-12T07:55:46Z||Abstract:||As a result of government policies increasing the amount of electricity generated from fluctuating renewable sources in many countries, the requirement for flexibility in the corresponding electricity systems increases. On the demand side, load shedding is one demand response mechanism contributing to an increased flexibility. Traditionally, load shedding was based on rather static or rotational strategies, whereby the system operator chooses the consumers for load shedding. However, ongoing technological developments provide the basis for smarter and more efficient load shedding strategies. We therefore examine the costs and strategies associated with such mechanisms by modelling an electricity market with different types of generators and consumers. Some consumers provide flexibility through load shedding only while others additionally have the ability to generate their own electricity. Focussing on the impacts of how and to whom consumers with own generation ability can supply electricity, the presence of market power and generator uncertainty, we propose a rolling horizon stochastic mixed complementarity equilibrium model, where the individual optimisation problems of each player are solved simultaneously and in equilibrium. We find that a non-static strategy reduces consumer costs while allowing consumers to provide own generation to the whole market results in minimal benefits. The presence of market power was found to increase costs to consumers.||Type of material:||Journal Article||Publisher:||Elsevier BV||Journal:||European Journal of Operational Research||Volume:||267||Issue:||2||Start page:||643||End page:||658||Copyright (published version):||2017 Elsevier||Keywords:||OR in energy; Stochastic programming; Load shedding; Stochastic mixed complementarity; Rolling horizon||DOI:||10.1016/j.ejor.2017.11.041||Language:||en||Status of Item:||Peer reviewed|
|Appears in Collections:||Electrical and Electronic Engineering Research Collection|
Show full item record
This item is available under the Attribution-NonCommercial-NoDerivs 3.0 Ireland. No item may be reproduced for commercial purposes. For other possible restrictions on use please refer to the publisher's URL where this is made available, or to notes contained in the item itself. Other terms may apply.