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Exploring the Business Case of a Risk-Averse Electric Vehicle Aggregator in the Nordic Market
KTH, School of Electrical Engineering (EES), Electric Power and Energy Systems. (IRES)
KTH, School of Electrical Engineering (EES), Electric Power and Energy Systems. (IRES)ORCID iD: 0000-0003-0685-0199
KTH, School of Electrical Engineering (EES), Electric Power and Energy Systems. (IRES)
2018 (English)Conference paper, Published paper (Refereed)
Abstract [en]

The Nordic power system is facing the challenge of the ongoing decrease of synchronous generation along with increased penetration of inverter based renewable generation leading to reduced system inertia. Meanwhile, the electrification of the transport sector will result in a significant amount of additional electrical loads. However, the electrification of private transport is a technology of growing interest that can provide flexibility to the power system if adequately utilized. Electric vehicles (EV) can be considered as temporary energy storage with availability, energy and capacity constraints.

In this paper, we use first hand data of a real EV fleet of Tesla vehicles and their historical driving patterns to develop a two-stage stochastic optimization problem. This model maximizes the profit of a risk-averse EV aggregator that aims to place optimal bids on the day ahead in both energy and Frequency Containment Reserve (FCR) markets. Only uni-directional charging is examined, while we take into account uncertainty from prices and vehicle utilization. Case studies are carried out modelling individual vehicle driving behavior in different Nordic price areas in both winter and summer.

We identify a strong alignment of EV availability and periods of high FCR prices. Results show that consumption is shifted largely towards early hours of the morning. When compared to a  reference ”cost of charging case”, up to 50% of the cost of charging can be covered in Norway, while the entire cost is met in Sweden.

Place, publisher, year, edition, pages
Stockholm, 2018.
Keywords [en]
ancillary services, aggregation, balancing markets, demand side management, electricity prices, electric vehicles
National Category
Other Electrical Engineering, Electronic Engineering, Information Engineering
Research subject
Electrical Engineering; Economics
Identifiers
URN: urn:nbn:se:kth:diva-236314OAI: oai:DiVA.org:kth-236314DiVA, id: diva2:1256444
Conference
2nd E-Mobility Power System Integration Symposium
Note

QC 20181017

Available from: 2018-10-17 Created: 2018-10-17 Last updated: 2024-03-18Bibliographically approved
In thesis
1. Demand Flexibility for the Simultaneous Provision of Multiple Services: Tapping the Potential of Controllable Electric Loads for Frequency Reserves and Energy Arbitrage
Open this publication in new window or tab >>Demand Flexibility for the Simultaneous Provision of Multiple Services: Tapping the Potential of Controllable Electric Loads for Frequency Reserves and Energy Arbitrage
2020 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

Power systems with increasing shares of renewable energy sources require sufficient flexibility sources. One source of flexibility for future power systems is constituted by flexible electric loads. The concept of demand response captures the utilization of demand side flexibility to provide services to the power system. To efficiently exploit demand side flexibility, the need for, the potential of, and means to provide flexibility need to be quantified. This thesis provides an estimate of the need for flexibility, the potential of demand side flexibility, and, above all, the means of tapping the flexibility from controllable electric loads.

For a demand response provider, the most economic means of providing flexibility in wholesale electricity markets is to participate in several markets simultaneously and thereby provide multiple services. With a focus on the Nordic electricity markets, the simultaneous provision of energy arbitrage and frequency reserves poses as the most economic market portfolio for a demand response provider with storage type assets.Specifically, the methods developed in this thesis model a risk-averse demand response provider that aims to maximize its profit on the day-ahead by placing bids on the energy and frequency reserve markets.

The operational business of a demand response provider is illustrated by stochastic optimization of day-ahead bids under uncertainty from prices, temperatures, behavior, and model error.A general virtual battery model for simultaneous bidding in multiple day-ahead markets is developed for three applications; Thermostatically controlled loads (TCL), electric vehicles (EV), and a pulp and paper mill (PPM). The models can be used to assess the flexibility potential that a demand response provider can supply in a market based procurement of energy and reserves.Through application of the models to power system, price, temperature, and load data, the power and energy flexibility of the three studied load types are quantified.

This thesis contributes to the field of demand response research by providing decision support tools for demand response providers that participate in energy and frequency reserve (FCR-N) markets.The main focus of the developed algorithms is to facilitate optimal day-ahead bids for a risk-averse demand response provider under various sources of uncertainty. Additionally, the sensitivity to market timing, such as lead time and contract period, is investigated.

A significant potential of approximately 2.0 GW FCR-N capacity and 15.0 GWh energy flexibility is found in the Swedish power system, that can be exploited given the necessary communication infrastructure. The amount of flexibility, as well as the profitability of a demand response provider, is highest with short lead times and contract periods.

Abstract [sv]

Ett elkraftsystem med en ökande andel förnybara energikällor kräver tillräckligt med flexibilitet. En typ av flexibilit för framtidens elkraftsystem utgörs av flexibel elförbrukning. Begreppet efterfrågesvar beskriver användningen av efterfrågeflexibilitet för att tillhandahålla tjänster till elkraftsystemet. För att effektivt utnyttja flexibiliteten på efterfrågesidan måste behovet av, potentialen för och metoder för att tillhandahålla flexibilitet kvantifieras. Denna avhandling ger en uppskattning av behovet av flexibilitet, potentialen för efterfrågeflexibilitet och framför allt metoder för att använda flexibiliteten från styrbara elförbrukningar.

För en leverantör av efterfrågesvar är det mest ekonomiska sättet att tillhandahålla flexibilitet på elmarknaderna att delta på flera marknader samtidigt och därmed tillhandahålla multitjänster. Med fokus på de nordiska elmarknaderna utgör det samtidiga tillhandahållandet av energiarbitrage och frekvensreserver den mest ekonomiska marknadsportföljen för en efterfrågesvarleverantör med tillgångar av lagringstyp. Specifikt är de metoder som utvecklats i denna avhandling tillämpliga för en riskobenägen leverantör av efterfrågesvar som syftar till att maximera sin vinst för nästa dag genom att lägga bud på energi- och frekvensreservmarknaderna.

Den operativa verksamheten hos en leverantör av efterfrågesvar beskrivs genom stokastisk optimering av buden under osäkerhet från priser, temperaturer, beteenden och modellfel. En generell virtuell batterimodell för samtidig budgivning på flera marknader i dag framåt är utvecklad för tre tillämpningar; Termostatstyrda laster (TCL), elektriska fordon (EV) och ett massa- och pappersbruk (PPM). Modellerna kan användas för att utvärdera flexibilitetspotentialen som en leverantör av efterfrågesvar kan tillhandahålla i en marknadsbaserad upphandling av energi och reserver. Genom tillämpning av modellerna på elkraftsystem, pris, temperatur och lastdata kvantifieras potentialen och energiflexibiliteten hos de tre studerade lasttyperna.

Denna avhandling bidrar till området efterfrågesvarforskning genom att tillhandahålla beslutsstödverktyg för leverantörer av efterfrågesvar som deltar i energi- och frekvensreservmarknader (FCR-N). Huvudfokus för de utvecklade algoritmerna är att möjliggöra optimala framtida bud för en riskobenägen leverantör av efterfrågesvar under olika osäkerhetskällor. Dessutom undersöks inverkan av marknadsparametrar , såsom ledtid och avtalsperiod.

En betydande potential på cirka 2,0 GW FCR-N effektflexibilitet och 15,0 GWh energiflexibilitet finns i det svenska kraftsystemet, som kan utnyttjas förutsatt en tillgång på nödvändig kommunikationsinfrastruktur. Mängden flexibilitet, liksom lönsamheten hos en leverantör av efterfrågesvar, är högst vid kort ledtid och avtalsperiod.

Place, publisher, year, edition, pages
Stockholm, Sweden: KTH Royal Institute of Technology, 2020. p. 82
Series
TRITA-EECS-AVL ; TRITA-EECS-AVL-2020:35
Keywords
aggregator, chance constrained optimisation, demand response, de-mand response provider, demand side management, frequency reserves, load control, stochastic optimization, aggregator, riskbegränsad optimering, efterfrågestyrning, leverantör av efterfrågesvar, efterfrågeflexibilitet, frekvensreserver, laststyrning, stokastisk optimering.
National Category
Other Electrical Engineering, Electronic Engineering, Information Engineering
Research subject
Electrical Engineering
Identifiers
urn:nbn:se:kth:diva-279070 (URN)978-91-7873-569-3 (ISBN)
Public defence
2020-09-08, Kollegiesalen eller via zoom: https://kth-se.zoom.us/webinar/register/WN_3mOiNLURQzao2UdGwTNb2A, Brinellvägen 8,100 28 Stockholm, Stockholm, 10:00 (English)
Opponent
Supervisors
Funder
Swedish Energy Agency, 76178
Note

QC 20200814

Available from: 2020-08-14 Created: 2020-08-13 Last updated: 2022-06-26Bibliographically approved

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Dalton, JacobHerre, LarsSöder, Lennart

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