Multi-period dynamic tariffs for prosumers participating in virtual power plants

Ren, Z; Verbič, G; Guerrero, J

Multi-period dynamic tariffs for prosumers participating in virtual power plants

Ren, Z Verbič, G Guerrero, J

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Publisher:: Elsevier BV
Publication Type:: Journal Article
Citation:: Electric Power Systems Research, 2022, 212, pp. 108478
Issue Date:: 2022-11-01

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Field	Value	Language
dc.contributor.author	Ren, Z
dc.contributor.author	Verbič, G
dc.contributor.author	Guerrero, J
dc.date.accessioned	2022-11-15T22:58:02Z
dc.date.available	2022-11-15T22:58:02Z
dc.date.issued	2022-11-01
dc.identifier.citation	Electric Power Systems Research, 2022, 212, pp. 108478
dc.identifier.issn	0378-7796
dc.identifier.uri	http://hdl.handle.net/10453/163493
dc.description.abstract	The increasing penetration of prosumers, residential customers equipped with distributed energy resources (DER), offers an opportunity to aggregate DER into virtual power plants (VPP) operated as a single dispatchable resource. Yet that raises the question of how to financially reward prosumers for participating in VPPs. Against this backdrop, this paper explores multi-period dynamic export tariffs based on the dual variables of the optimisation problem used for aggregation. In contrast to the existing approaches, we use a multi-period optimisation model to account for inter-temporal coupling introduced by battery storage systems. We focus on three different VPP models with different objective functions, reflecting varying levels of customer focus. Our analysis is illustrated in a case study, underlying outcome and economic benefits of each VPP model.
dc.language	en
dc.publisher	Elsevier BV
dc.relation.ispartof	Electric Power Systems Research
dc.relation.isbasedon	10.1016/j.epsr.2022.108478
dc.rights	info:eu-repo/semantics/closedAccess
dc.subject	0906 Electrical and Electronic Engineering
dc.subject.classification	Energy
dc.title	Multi-period dynamic tariffs for prosumers participating in virtual power plants
dc.type	Journal Article
utslib.citation.volume	212
utslib.for	0906 Electrical and Electronic Engineering
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/DVC (Research)
pubs.organisational-group	/University of Technology Sydney/DVC (Research)/Institute For Sustainable Futures
utslib.copyright.status	closed_access	*
dc.date.updated	2022-11-15T22:58:01Z
pubs.publication-status	Published
pubs.volume	212

Abstract:

The increasing penetration of prosumers, residential customers equipped with distributed energy resources (DER), offers an opportunity to aggregate DER into virtual power plants (VPP) operated as a single dispatchable resource. Yet that raises the question of how to financially reward prosumers for participating in VPPs. Against this backdrop, this paper explores multi-period dynamic export tariffs based on the dual variables of the optimisation problem used for aggregation. In contrast to the existing approaches, we use a multi-period optimisation model to account for inter-temporal coupling introduced by battery storage systems. We focus on three different VPP models with different objective functions, reflecting varying levels of customer focus. Our analysis is illustrated in a case study, underlying outcome and economic benefits of each VPP model.

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http://hdl.handle.net/10453/163493