Print Email Facebook Twitter Stochastic bidding of volume and price in constrained energy and reserve markets Title Stochastic bidding of volume and price in constrained energy and reserve markets Author Romero, N. van der Linden, K. Morales España, G.A. de Weerdt, M.M. Publication year 2021 Abstract The power system is undergoing a significant change as it adapts to the intermittency and uncertainty from renewable generation. Flexibility from loads such as electric vehicles (EVs) can serve as reserves to sustain the supply-demand balance in the grid. Some reserve markets have rules for participation that are computationally challenging for aggregators of such flexible loads: they are asked to bid both volume and price, and on top of this there is a minimum-volume requirement, a constraint currently under discussion both in the US and European markets. Several state-of-the-art methods to find a bidding strategy for the demand scheduling of large fleets of flexible loads in the day-ahead and reserve market are adapted to deal with such a shared constraint, and are compared based on costs, unscheduled demand, and running time. The experimental analysis shows that al-though such a shared constraint significantly affects scalability, some of the proposed adaptations can deal with this without much loss in quality. This comparison also shows the importance of including good uncertainty models for dealing with the risk of not meeting the users’ demands, and that it is possible to find an optimal single price per time unit for scheduling a fleet of EVs. Subject Electric vehicle (EV) aggregatorEnergy marketReserve marketStochastic optimizationEnergy EfficiencyEnergy / Geological Survey Netherlands To reference this document use: http://resolver.tudelft.nl/uuid:8cbdc0c7-fa1a-417a-8690-c8082c4d5dff DOI https://doi.org/10.1016/j.epsr.2020.106868 TNO identifier 946570 Publisher Elsevier, Amsterdam ISSN 0378-7796 Source Electric Power Systems Research, 191 (191), 106868 Document type article Files To receive the publication files, please send an e-mail request to TNO Library.