Real-time pricing for aggregates energy resources in the Italian energy market. (1st July 2015)

• Record Type: Journal Article
• Authors: Favuzza, S.; Galioto, G.; Ippolito, M.G.; Massaro, F.; Milazzo, F.; Pecoraro, G.; Riva Sanseverino, E.; Telaretti, E.
• Is Part Of: Energy. Volume 87(2015)
• Page Start: 251
• Page End: 258
• Publication Date: 2015-07-01
• Subjects: Real time pricing -- Optimization -- Loads aggregation; Power resources -- Periodicals; Power (Mechanics) -- Periodicals; Energy consumption -- Periodicals; 333.7905
• DOI: 10.1016/j.energy.2015.04.105
• Languages: English
• ISSNs: 0360-5442

Abstract

Abstract: Over the last decade, the architecture of the energy market has radically changed. In many countries end-users are now able to directly access the market, which has given rise to the question of how they can actively participate in that market. End-users can comprise a critical mass through aggregation that is carried out by a third party – to wit the "loads aggregator." This paper proposes a new framework for generating feasible real-time price curves for those end-users in a demand-response management process. The underlying algorithm generates output curves as the solution to a constrained optimization problem whose objective function is the aggregator's economic benefit. A case simulation study of the Italian market, with various parameter options, illustrates the procedure. Highlights: Management of customer storage systems in presence of dynamic electricity prices. The strategy exploits a load-shifting operation ensuring a profit for the end-user. The algorithm gives curves as solution of a constrained optimization problem. The objective function maximizes the economic benefit of aggregator and end users.