Designing a Distribution Level Flexibility Market using Mechanism Design and Optimal Power Flow

Konstantinos Seklos, Georgios Tsaousoglou, Konstantinos Steriotis, Nikolaos Efthymiopoulos, Prodromos Makris, Emmanouel Varvarigos

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Abstract

Modern Smart Grids with high RES penetration at the distribution level, face great challenges related to congestion avoidance and voltage control. The development of a flexibility market that guarantees the constraint satisfaction of the distribution network and truthful (as opposed to strategic) player participation is necessary. This paper proposes an efficient flexibility market architecture that facilitates flexibility service provision in a distribution network. It leverages an optimal and incentive compatible mechanism in order to achieve efficiency (energy services with lower cost) and truthful participation.
Original languageEnglish
Title of host publicationSEST 2020 - 3rd International Conference on Smart Energy Systems and Technologies
ISBN (Electronic)9781728147017
DOIs
Publication statusPublished - 7 Sep 2020

Keywords

  • Distribution network
  • Energy market architecture
  • Flexibility market
  • Market power mitigation
  • Truthful market participation

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