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Mathematics > Optimization and Control

arXiv:1812.03797 (math)
[Submitted on 10 Dec 2018]

Title:Directly Constraining Marginal Prices in Distribution Grids Using Demand-Side Flexibility

Authors:Shantanu Chakraborty, Kyri Baker, Milos Cvetkovic, Remco Verzijlbergh, Zofia Lukszo
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Abstract:Recently, the volatility associated with marginal prices has increased due to large scale integration of renewable generation. Price volatility is undesirable from a consumer perspective. To address this issue, we present a framework for hedging that uses duality theory for quantifying the amount of demand-side flexibility required for constraining marginal prices to the consumers maximum willingness to pay for electricity. Using our formulation, we investigate the ability of an Energy Storage System (ESS), as a demand-side flexibility source, to hedge against electricity price volatility across a multi-time period horizon while accounting for its inter-temporal constraints. Additionally, we analyze the economical benefit that operating the ESS under information forecasts brings to the consumers.
Comments: Submitted to IEEE Power and Energy Society General Meeting 2019
Subjects: Optimization and Control (math.OC)
Cite as: arXiv:1812.03797 [math.OC]
  (or arXiv:1812.03797v1 [math.OC] for this version)
  https://doi.org/10.48550/arXiv.1812.03797

Submission history

From: Shantanu Chakraborty [view email]
[v1] Mon, 10 Dec 2018 13:56:43 UTC (775 KB)
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