In this project we investigate novel architectures for the electrical energy market and systems which would support short-term price-based energy scheduling and long-term penetration of renewable energy and new market products. The emerging concept of an agent that consumes energy, but that can also produce and store energy is one of the key drivers of market design. Emerging technologies such as distributed production, storage, ubiquitous information, power electronics, etc. affect both the consumer expectations and enable various new market functions. Issues of market fairness (surplus distribution), differentiation, production capacity, and equilibrium are investigated. The research approach is based on extensive parametric software simulations of various market architectures.
Human market agents are taken into account. The various project test-beds are leveraged in order to identify the specific optimization constraints and trade-offs and to test the market architecture and the derived market instruments.
Last revised on Aug. 25, 2011