Publication
Strategic Participation of Active Citizen Energy Communities in Spot Electricity Markets Using Hybrid Forecast Methodologies
| dc.contributor.author | Algarvio, Hugo | |
| dc.date.accessioned | 2023-03-14T12:03:46Z | |
| dc.date.available | 2023-03-14T12:03:46Z | |
| dc.date.issued | 2022-12 | |
| dc.description.abstract | ABSTRACT: The increasing penetrations of distributed renewable generation lead to the need for Citizen Energy Communities. Citizen Energy Communities may be able to be active market players and solve local imbalances. The liberalization of the electricity sector brought wholesale and retail competition as a natural evolution of electricity markets. In retail competition, retailers and communities compete to sign bilateral contracts with consumers. In wholesale competition, producers, retailers and communities can submit bids to spot markets, where the prices are volatile or sign bilateral contracts, to hedge against spot price volatility. To participate in those markets, communities have to rely on risky consumption forecasts, hours ahead of real-time operation. So, as Balance Responsible Parties they may pay penalties for their real-time imbalances. This paper proposes and tests a new strategic bidding process in spot markets for communities of consumers. The strategic bidding process is composed of a forced forecast methodology for day-ahead and short-run trends for intraday forecasts of consumption. This paper also presents a case study where energy communities submit bids to spot markets to satisfy their members using the strategic bidding process. The results show that bidding at short-term markets leads to lower forecast errors than to long and medium-term markets. Better forecast accuracy leads to higher fulfillment of the community programmed dispatch, resulting in lower imbalances and control reserve needs for the power system balance. Furthermore, by being active market players, energy communities may save around 35% in their electrical energy costs when comparing with retail tariffs. | pt_PT |
| dc.description.version | info:eu-repo/semantics/publishedVersion | pt_PT |
| dc.identifier.citation | Algarvio, Hugo - Strategic Participation of Active Citizen Energy Communities in Spot Electricity Markets Using Hybrid Forecast Methodologies. In: Eng, 2023, vol. 4 (1), p. 1-14 | pt_PT |
| dc.identifier.doi | 10.3390/eng4010001 | pt_PT |
| dc.identifier.issn | 2673-4117 | |
| dc.identifier.uri | http://hdl.handle.net/10400.9/4031 | |
| dc.language.iso | eng | pt_PT |
| dc.peerreviewed | yes | pt_PT |
| dc.publisher | MDPI | pt_PT |
| dc.relation | Tools for the Design and modelling of new markets and negotiation mechanisms for a ~100% Renewable European Power Systems | |
| dc.relation.publisherversion | https://doi.org/10.3390/eng4010001 | pt_PT |
| dc.rights.uri | http://creativecommons.org/licenses/by/4.0/ | pt_PT |
| dc.subject | Electricity markets | pt_PT |
| dc.subject | Energy | pt_PT |
| dc.subject | Citizen Energy Communities | pt_PT |
| dc.subject | Renewable energy generation | pt_PT |
| dc.title | Strategic Participation of Active Citizen Energy Communities in Spot Electricity Markets Using Hybrid Forecast Methodologies | pt_PT |
| dc.type | journal article | |
| dspace.entity.type | Publication | |
| oaire.awardTitle | Tools for the Design and modelling of new markets and negotiation mechanisms for a ~100% Renewable European Power Systems | |
| oaire.awardURI | info:eu-repo/grantAgreement/EC/H2020/864276/EU | |
| oaire.citation.endPage | 14 | pt_PT |
| oaire.citation.startPage | 1 | pt_PT |
| oaire.citation.title | Eng | pt_PT |
| oaire.citation.volume | 4 | pt_PT |
| oaire.fundingStream | H2020 | |
| person.identifier.ciencia-id | B01D-304F-6CD3 | |
| person.identifier.orcid | 0000-0002-4129-838X | |
| project.funder.identifier | http://doi.org/10.13039/501100008530 | |
| project.funder.name | European Commission | |
| rcaap.rights | openAccess | pt_PT |
| rcaap.type | article | pt_PT |
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| relation.isProjectOfPublication | 7d7e6f9b-bf23-4adc-8f93-2061ef327e26 | |
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