A multi-scale energy demand model suggests sharing market risks with intelligent energy cooperatives. Methenitis, G.; Kaisers, M.; and La Poutre, H. In Smart Grid Technologies - Asia (ISGT ASIA), 2015 IEEE Innovative, pages 1-6, Nov, 2015.
A multi-scale energy demand model suggests sharing market risks with intelligent energy cooperatives [link]Paper  doi  abstract   bibtex   
In this paper, we propose a multi-scale model of energy demand that is consistent with observations at a macro scale, in our use-case standard load profiles for (residential) electric loads. We employ the model to study incentives to assume the risk of volatile market prices for intelligent energy cooperatives at different aggregation scales of energy consumption. Next to scale, we investigate the benefits of demand response, more precisely intelligent scheduling of time-shiftable electric processes, and virtual storage intraday and between days. Results show that the increasing electrification and introduction of flexibilities (electric vehicles, thermal applications, storage, etc.) is going to make market participation viable for smaller groups of consumers. Retailers may thus introduce innovative tariffs for intelligent energy cooperatives to share the risk of volatility in wholesale markets for electricity.
@INPROCEEDINGS{7386995,
author={Methenitis, G. and Kaisers, M. and La Poutre, H.},
booktitle={Smart Grid Technologies - Asia (ISGT ASIA), 2015 IEEE Innovative},
title={A multi-scale energy demand model suggests sharing market risks with intelligent energy cooperatives},
year={2015},
pages={1-6},
abstract={In this paper, we propose a multi-scale model of energy demand that is consistent with observations at a macro scale, in our use-case standard load profiles for (residential) electric loads. We employ the model to study incentives to assume the risk of volatile market prices for intelligent energy cooperatives at different aggregation scales of energy consumption. Next to scale, we investigate the benefits of demand response, more precisely intelligent scheduling of time-shiftable electric processes, and virtual storage intraday and between days. Results show that the increasing electrification and introduction of flexibilities (electric vehicles, thermal applications, storage, etc.) is going to make market participation viable for smaller groups of consumers. Retailers may thus introduce innovative tariffs for intelligent energy cooperatives to share the risk of volatility in wholesale markets for electricity.},
keywords={demand side management;energy consumption;power generation scheduling;power markets;pricing;demand response;electricity markets;energy consumption;intelligent energy cooperatives;intelligent scheduling;market prices;multiscale energy demand model;residential electric loads;sharing market risks;time-shiftable electric processes;Data models;Energy consumption;Load management;Load modeling;Mathematical model;Semantics;Standards;Cooperative systems;Demand Response;Power system economics;Smart grids},
doi={10.1109/ISGT-Asia.2015.7386995},
url={http://ieeexplore.ieee.org/xpl/articleDetails.jsp?arnumber=7386995},
month={Nov},}
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