Result description
In this win-win bilateral contract scheme, RES and DR Aggregators operate collectively under a common augmented portfolio of RES units and end-user DSF resources. DSF resources represented by a DR Aggregator can be regularly called to turn-on/off their flexible loads (e.g. electric water heaters, smart plugs, etc.) to bilaterally counterbalance the respective RES generation imbalances (positive or negative).
A bilateral contract is concluded between RES and DR Aggregators, where a specific bilateral contract price is defined, along with a settlement price between DR Aggregator & End-users. This settlement price can be lower/higher than the bilateral contract price, depending on the case (i.e. RES short / RES long).
Addressing target audiences and expressing needs
- Collaboration
- Other type of Investment
We specifically are looking for RES and DR Aggregators that wish to closely cooperate in order to implement such a bilateral trading scheme as well as end-consumers to engage in associated DR programs towards exploiting mutual economic benefits.Electricity market regulatory and operational frameworks need to be revised appropriately to allow for the collective operation andrepresentation of distinct market players (i.e. RES and DR Aggregators) in the balancing market.
- Research and Technology Organisations
- Academia/ Universities
- Private Investors
R&D, Technology and Innovation aspects
This result was recently implemented in a pilot test case in Greece, with a small PV plant and a limited number of end-users, which are considered to be represented by a DR Aggregator in the wholesale electricity market. Next steps include the promotion of this scheme to Regulatory Authorities in order to demonstrate its applicability and potential to be implemented in real-life markets.
The result is scalable, since it can be applied to unlimited number of RES and DR Aggregators that are able to participate jointly in the wholesale electricity markets (e.g. portfolio-based electricity markets).
This result can be replicated to any wholesale electricity market, where the imbalance settlement follows the „dual-pricing“ paradigm.
As long as the „dual-pricing“ imbalance settlement scheme is applicable to the wholesale electricity markets, the applicability of this result is ensured.
Result submitted to Horizon Results Platform by ATHENS UNIVERSITY OF ECONOMICS AND BUSINESS – RESEARCH CENTER
