A market decision-making model for load aggregators with flexible load

The fast development of renewable energy has resulted in great challenges to the power system, which urgently needs more flexible resources to maintain a system supply/demand balance. This paper established a multi-stage electricity market framework in the presence of a load aggregator (LA) including a day-ahead energy/reserve market and a real-time balanced market. To actively participate in the day-ahead energy market and reserve market, a load profile perception model for LA is proposed to evaluate in detail the response performance of consumers. Meanwhile, a market-bidding model of LA and a market-clearing model of the system operator for the day-ahead market are also established. To actively join the real-time balance market, a market-bidding model of LA for the real-time balance market based on surplus flexible resources is established. The system operator further clears the real-time balance market and dispatches the collected flexible resources according to the system supply-demand state. A modified IEEE 30 bus system is tested and shows that the proposed market framework can effectively promote consumers to respond to system regulation requirements and lowers the system supply-demand imbalance risk.

Automated summary

This study establishes a multi-stage electricity market framework to address the challenges posed by the rapid development of renewable energy. A load aggregator is introduced to establish an energy/reserve market in the day-ahead market and real-time balanced market. A load profile perception model is proposed to evaluate the response performance of consumers. Market bidding and clearing models are established for the day-ahead market, as well as a market bidding model for the real-time balance market based on surplus flexible resources. The proposed market framework effectively promotes consumer response to system regulation requirements and reduces the risk of supply-demand imbalance.