2022
Authors
Fernandes, R; Soares, I;
Publication
ENERGIES
Abstract
In this paper, for the data set of the Iberian Electricity Market for the period 1 January 2015 to 30 June 2019, 19 different models are considered from econometrics, statistics, and artificial intelligence to explain how electricity markets work. This survey allows us to obtain a more complete, critical view of the most cited models. The machine learning models appear to be very good at selecting the best explanatory variables for the price. They provide an interesting insight into how much the price depends on each variable under a nonlinear perspective. Notwithstanding, it might be necessary to make the results understandable. Both the autoregressive models and the linear regression models can provide clear explanations for each explanatory variable, with special attention given to GARCHX and LASSO regression, which provide a cleaner linear result by removing variables that have a minimal linear impact.
2022
Authors
Vahid-Ghavidel M.; Javadi S.; Gough M.; Javadi M.S.; Santos S.F.; Shafie-Khah M.; Catalão J.P.S.;
Publication
Technologies for Integrated Energy Systems and Networks
Abstract
Energy storage is an important element of an energy system. In the power system, energy storage can be defined as a component that can be employed to generate a form of energy or utilize previously stored energy at different locations or times when it is required. Energy storage can enhance the stability of the grid, increase the reliability and efficiency of integrated systems that include renewable energy resources, and can also reduce emissions. A diverse set of storage technologies are currently utilized for the energy storage systems (ESSs) in a varied set of projects. This chapter provides information about the current ESS projects around the world and emphasizes the leading countries that are developing the applications of ESSs. The main categories of ESSs are explained in this chapter as follows: electrochemical, electromechanical, electromagnetic, and thermal storage. Moreover, the energy storage technologies are utilized in power grids for various reasons such as electricity supply capacity, electric energy time-shifting, on-site power, electric supply reserve capacity, frequency regulation, voltage support, and electricity bill management. Additionally, by integrating the various energy forms and developing the concept of multi-energy systems, ESSs become a fundamental component for the efficient operation of multi-energy systems. The main role of ESSs in multi-energy systems is to compensate for the fluctuations in power output from renewable energy resources. Moreover, the performance of the multi-energy system increases when it got integrated with an ESS. In this chapter, the applied ESS technologies in the context of the multi-energy systems are presented and explained.
2022
Authors
Gough, MB; Santos, SF; AlSkaif, T; Javadi, MS; Castro, R; Catalao, JPS;
Publication
IEEE TRANSACTIONS ON INDUSTRIAL INFORMATICS
Abstract
The use of data from residential smart meters can help in the management and control of distribution grids. This provides significant benefits to electricity retailers as well as distribution system operators but raises important questions related to the privacy of consumers' information. In this article, an innovative differential privacy (DP) compliant algorithm is developed to ensure that the data from consumer's smart meters are protected. The effects of this novel algorithm on the operation of the distribution grid are thoroughly investigated not only from a consumer's electricity bill point of view but also from a power systems point of view. This method allows for an empirical investigation into the losses, power quality issues, and extra costs that such a privacy-preserving mechanism may introduce to the system. In addition, severalcost allocation mechanisms based on the cooperative game theory are used to ensure that the extra costs are divided among the participants in a fair, efficient, and equitable manner. Overall, the comprehensive results show that the approach provides privacy preservation in line with the consumer's preferences and does not lead to significant cost or loss increases for the energy retailer. In addition, the novel algorithm is computationally efficient and performs very well with a large number of consumers, thus demonstrating its scalability.
2022
Authors
Javadi, MS; Nezhad, AE; Jordehi, AR; Gough, M; Santos, SF; Catalao, JPS;
Publication
ENERGY
Abstract
This paper investigates a fully decentralized model for electricity trading within a transactive energy market. The proposed model presents a peer-to-peer (P2P) trading framework between the clients. The model is incorporated for industrial, commercial, and residential energy hubs to serve their associated demands in a least-cost paradigm. The alternating direction method of multipliers (ADMM) is implemented to address the decentralized power flow in this study. The optimal operation of the energy hubs is modeled as a standard mixed-integer linear programming (MILP) optimization problem. The corresponding decision variables of the energy hubs operation are transferred to the peer-to-peer (P2P) market, and ADMM is applied to ensure the minimum data exchange and address the data privacy issue. Two different scenarios have been studied in this paper to show the effectiveness of the electricity trading model between peers, called integrated and coordinated operation modes. In the integration mode, there is no P2P energy trading while in the coordinated framework, the P2P transactive energy market is taken into account. The proposed model is simulated on the modified IEEE 33-bus distribution network. The obtained results confirm that the coordinated model can efficiently handle the P2P transactive energy trading for different energy hubs, addressing the minimum data exchange issue, and achieving the least-cost operation of the energy hubs in the system. The obtained results show that the total operating cost of the hubs in the coordinated model is lower than that of the integrated model by $590.319, i.e. 11.75 % saving in the costs. In this regard, the contributions of the industrial, commercial, and residential hubs in the total cost using the integrated model are $3441.895, $596.600, and $988.789, respectively. On the other hand, these energy hubs contribute to the total operating cost in the coordinated model by $2932.645, $590.155, and $914.165 respectively. The highest decrease relates to the industrial hub by 14.8 % while the smallest decrease relates to the residential hub by 1 %. Furthermore, the load demand in the integrated and coordinated models is mitigated by 13 % and 17 %, respectively. These results indicate that the presented framework could effectively and significantly reduce the total load demand which in turn leads to reducing the total cost and power losses. (c) 2021 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/).
2022
Authors
Gough, M; Santos, SF; Almeida, A; Lotfi, M; Javadi, MS; Fitiwi, DZ; Osorio, GJ; Castro, R; Catalao, JPS;
Publication
IEEE TRANSACTIONS ON INDUSTRY APPLICATIONS
Abstract
Emerging technologies are helping to accelerate the ongoing energy transition. At the forefront of these new technologies is blockchain, which has the potential to disrupt energy trading markets. This article explores this potential by presenting an innovative multilevel transactive energy (TE) optimization model for the scheduling of distributed energy resources (DERs) within connected virtual power plants (VPPs). The model allows for energy transactions within a given VPP as well as between connected VPPs. A blockchain-based smart contract layer is applied on top of the TE optimization model to automate and record energy transactions. The model is formulated to adhere to the new regulations for the self-generation and self-consumption of energy in Portugal. This new set of regulations can ease barriers to entry for consumers and increase their active participation in energy markets. Results show a decrease in energy costs for consumers and increased generation of locally produced electricity. This model shows that blockchain-based smart contracts can be successfully integrated into a hierarchical energy trading model, which respects the novel energy regulation. This combination of technologies can be used to increase consumer participation, lower energy bills, and increase the penetration of locally generated electricity from renewable energy sources.
2022
Authors
Gough, M; Santos, SF; Lotfi, M; Javadi, MS; Osorio, GJ; Ashraf, P; Castro, R; Catalao, JPS;
Publication
IEEE TRANSACTIONS ON INDUSTRY APPLICATIONS
Abstract
Virtual power plants (VPPs) have emerged as a way to coordinate and control the growing number of distributed energy resources (DERs) within power systems. Typically, VPP models have focused on financial or commercial outcomes and have not considered the technical constraints of the distribution system. The objective of this article is the development of a technical VPP (TVPP) operational model to optimize the scheduling of a diverse set of DERs operating in a day-ahead energy market, considering grid management constraints. The effects on network congestion, voltage profiles, and power losses are presented and analyzed. In addition, the thermal comfort of the consumers is considered and the tradeoffs between comfort, cost, and technical constraints are presented. The model quantifies and allocates the benefits of the DER operation to the owners in a fair and efficient manner using the Vickrey-Clarke-Grove mechanism. This article develops a stochastic mixed-integer linear programming model and various case studies are thoroughly examined on the IEEE 119 bus test system. Results indicate that electric vehicles provide the largest marginal contribution to the TVPP, closely followed by solar photovoltaic (PV) units. Also, the results show that the operations of the TVPP improve financial metrics and increase consumer engagement while improving numerous technical operational metrics. The proposed TVPP model is shown to improve the ability of the system to incorporate DERs, including those from commercial buildings.
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