@inproceedings{74edeb8bbd0440c58ee906f240401b5f,
title = "Value of thermostatic loads in energyffirequency response markets: A mean field game approach",
abstract = "This paper studies the distributed coordination of large populations of thermostatically controlled loads (TCLs). It is assumed that each TCL operates in an integrated energy/frequency response market and reacts to broadcast prices in order to minimize its energy cost and, at the same time, maximize its revenues from frequency response. A mean field game is used to model the competing interactions between the TCLs, quantify their impact on the system unit commitment and characterize the desired market equilibrium solution. This approach is then compared with a no-flexibility case in a 2030 scenario of the GB system, assessing the potential benefits of different types of flexible price-responsive TCLs in terms of cost reduction for the individual customers and for the overall system.",
keywords = "Distributed control, Mean field games, Thermal energy storage, Thermostatic loads",
author = "{De Paola}, Antonio and Vincenzo Trovato and David Angeli and Goran Strbac",
year = "2019",
month = aug,
day = "26",
doi = "10.1109/PTC.2019.8810683",
language = "English",
series = "2019 IEEE Milan PowerTech, PowerTech 2019",
publisher = "IEEE",
booktitle = "2019 IEEE Milan PowerTech, PowerTech 2019",
address = "USA United States",
note = "IEEE Milan PowerTech ; Conference date: 23-06-2019 Through 27-06-2019",
}