Journal
2021 IEEE MADRID POWERTECH
Volume -, Issue -, Pages -Publisher
IEEE
DOI: 10.1109/PowerTech46648.2021.9494978
Keywords
continuous market clearing; local flexibility market; network-aware reserve procurement
Categories
Funding
- H2020 European Project FLEXGRID [863876]
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This paper introduces a novel design of a continuous local flexibility market that explicitly considers network constraints, aiming to provide a foundation for future research by defining design considerations, introducing a market clearing algorithm, and discussing design options and research challenges.
To the best of our knowledge, this paper proposes for the first time a design of a continuous local flexibility market that explicitly considers network constraints. Continuous markets are expected to be the most appropriate design option during the early stages of local flexibility markets, where insufficient liquidity can hinder market development. At the same time, increasingly loaded distribution systems require to explicitly consider network constraints in local flexibility market clearing in order to help resolve rather than aggravate local network problems, such as line congestion and voltage issues. This paper defines the essential design considerations, introduces the local flexibility market clearing algorithm, and - aiming to establish a starting point for future research - discusses design options and research challenges that emerge during this procedure which require further investigation.
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