Incentives for Shaping the Consumption Profile of a Group of Consumers with Energy Storages

Olli Kilkki; Ilkka Seilonen; Kai Zenger; Valeriy Vyatkin

doi:10.1109/ISGTEurope.2016.7856253

Incentives for Shaping the Consumption Profile of a Group of Consumers with Energy Storages

Research output: Chapter in Book/Report/Conference proceeding › Conference article in proceedings › Scientific › peer-review

Abstract

The effects of increasing volatility of energy production could be mitigated by real-time shaping of the electricity consumption profile. This paper compares various strategies of an electricity retailer for controlling the consumption profile of its customers, under uncertainties in wholesale prices as well as heating demand. The economic and technical performance potential of selected forms of direct load control and dynamic pricing contracts are assessed through numerical simulations involving electric storage space heating consumers. Best potential monetary benefits were obtained by allowing direct load control and optimizing for additional flexibility, when simulating trading in the intra-day market.

Original language	English
Title of host publication	Proceedings of the IEEE PES Innovative Smart Grid Technologies Conference Europe, ISGT Europe 2016
Publisher	IEEE
Number of pages	6
ISBN (Electronic)	978-1-5090-3358-4
DOIs	https://doi.org/10.1109/ISGTEurope.2016.7856253
Publication status	Published - 14 Feb 2017
MoE publication type	A4 Conference publication
Event	IEEE PES Europe Conference on Innovative Smart Grid Technologies - Ljubljana, Slovenia Duration: 9 Oct 2016 → 12 Oct 2016

Publication series

Name	IEEE PES Innovative Smart Grid Technologies Conference Europe
Publisher	Institute of Electrical and Electronics Engineers Inc.
ISSN (Print)	2165-4816
ISSN (Electronic)	2165-4824

Conference

Conference	IEEE PES Europe Conference on Innovative Smart Grid Technologies
Abbreviated title	ISGT Europe
Country/Territory	Slovenia
City	Ljubljana
Period	09/10/2016 → 12/10/2016

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy

Keywords

smart grid
demand response
energy storage

Access to Document

10.1109/ISGTEurope.2016.7856253

Cite this

Kilkki, O., Seilonen, I., Zenger, K., & Vyatkin, V. (2017). Incentives for Shaping the Consumption Profile of a Group of Consumers with Energy Storages. In Proceedings of the IEEE PES Innovative Smart Grid Technologies Conference Europe, ISGT Europe 2016 Article 7856253 (IEEE PES Innovative Smart Grid Technologies Conference Europe). IEEE. https://doi.org/10.1109/ISGTEurope.2016.7856253

@inproceedings{6ea5fecb41c24763ac2d50343624a8ef,

title = "Incentives for Shaping the Consumption Profile of a Group of Consumers with Energy Storages",

abstract = "The effects of increasing volatility of energy production could be mitigated by real-time shaping of the electricity consumption profile. This paper compares various strategies of an electricity retailer for controlling the consumption profile of its customers, under uncertainties in wholesale prices as well as heating demand. The economic and technical performance potential of selected forms of direct load control and dynamic pricing contracts are assessed through numerical simulations involving electric storage space heating consumers. Best potential monetary benefits were obtained by allowing direct load control and optimizing for additional flexibility, when simulating trading in the intra-day market.",

keywords = "smart grid, demand response, energy storage",

author = "Olli Kilkki and Ilkka Seilonen and Kai Zenger and Valeriy Vyatkin",

year = "2017",

month = feb,

day = "14",

doi = "10.1109/ISGTEurope.2016.7856253",

language = "English",

series = "IEEE PES Innovative Smart Grid Technologies Conference Europe",

publisher = "IEEE",

booktitle = "Proceedings of the IEEE PES Innovative Smart Grid Technologies Conference Europe, ISGT Europe 2016",

address = "United States",

note = "IEEE PES Europe Conference on Innovative Smart Grid Technologies, ISGT Europe ; Conference date: 09-10-2016 Through 12-10-2016",

}

Kilkki, O, Seilonen, I , Zenger, K & Vyatkin, V 2017, Incentives for Shaping the Consumption Profile of a Group of Consumers with Energy Storages. in Proceedings of the IEEE PES Innovative Smart Grid Technologies Conference Europe, ISGT Europe 2016., 7856253, IEEE PES Innovative Smart Grid Technologies Conference Europe, IEEE, IEEE PES Europe Conference on Innovative Smart Grid Technologies, Ljubljana, Slovenia, 09/10/2016. https://doi.org/10.1109/ISGTEurope.2016.7856253

Incentives for Shaping the Consumption Profile of a Group of Consumers with Energy Storages. / Kilkki, Olli; Seilonen, Ilkka ; Zenger, Kai et al.
Proceedings of the IEEE PES Innovative Smart Grid Technologies Conference Europe, ISGT Europe 2016. IEEE, 2017. 7856253 (IEEE PES Innovative Smart Grid Technologies Conference Europe).

Research output: Chapter in Book/Report/Conference proceeding › Conference article in proceedings › Scientific › peer-review

TY - GEN

T1 - Incentives for Shaping the Consumption Profile of a Group of Consumers with Energy Storages

AU - Kilkki, Olli

AU - Seilonen, Ilkka

AU - Zenger, Kai

AU - Vyatkin, Valeriy

PY - 2017/2/14

Y1 - 2017/2/14

N2 - The effects of increasing volatility of energy production could be mitigated by real-time shaping of the electricity consumption profile. This paper compares various strategies of an electricity retailer for controlling the consumption profile of its customers, under uncertainties in wholesale prices as well as heating demand. The economic and technical performance potential of selected forms of direct load control and dynamic pricing contracts are assessed through numerical simulations involving electric storage space heating consumers. Best potential monetary benefits were obtained by allowing direct load control and optimizing for additional flexibility, when simulating trading in the intra-day market.

AB - The effects of increasing volatility of energy production could be mitigated by real-time shaping of the electricity consumption profile. This paper compares various strategies of an electricity retailer for controlling the consumption profile of its customers, under uncertainties in wholesale prices as well as heating demand. The economic and technical performance potential of selected forms of direct load control and dynamic pricing contracts are assessed through numerical simulations involving electric storage space heating consumers. Best potential monetary benefits were obtained by allowing direct load control and optimizing for additional flexibility, when simulating trading in the intra-day market.

KW - smart grid

KW - demand response

KW - energy storage

UR - https://www.scopus.com/pages/publications/85017526904

U2 - 10.1109/ISGTEurope.2016.7856253

DO - 10.1109/ISGTEurope.2016.7856253

M3 - Conference article in proceedings

T3 - IEEE PES Innovative Smart Grid Technologies Conference Europe

BT - Proceedings of the IEEE PES Innovative Smart Grid Technologies Conference Europe, ISGT Europe 2016

PB - IEEE

T2 - IEEE PES Europe Conference on Innovative Smart Grid Technologies

Y2 - 9 October 2016 through 12 October 2016

ER -

Incentives for Shaping the Consumption Profile of a Group of Consumers with Energy Storages

Abstract

Publication series

Conference

UN SDGs

Keywords

Access to Document

Other files and links

Fingerprint

Cite this