Development of Distributed Energy Market

: (Alternative Format Thesis)

Abstract

The introduction of decarbonization policies drives the transition of the Great Britain (GB) energy system in both the demand and the supply side, to step into the future of decarbonization, decentralization and digitalization. The appropriate distributed energy market offers consumers the access to the low-cost energies and mobilize the value of flexibility resources in the meantime, transferring end-users from the passive energy receivers to the future active energy market participants.
Preliminary solutions are offered towards the shortages of existing markets, including limited numbers and initiative of market participants, the lack of markets targeting on demand-supply balance, and the undefined responsibilities of regulation institutions.. The innovation and contribution of this research include:
The innovation and contribution of this research include:
• Proposed a multi-layer architecture of distribution-level electricity market, which could illustrate the entire tradable services under the forms of markets. The structure of electricity supply chain and the key information could be represented visually, being convenient to track and explore the distribution-level market transformation tendency.
• Proposed market assessment criteria from the perspectives of economy efficiency and society feasibility. The typical trading methods applied in the wholesale electricity market are assessed under the proposed criteria, offering market feasibility under the future distributed energy communities.
• Proposed a pay-as-clear market settlement which could increase clearing quantity and invest reliability to the system. The published model possesses higher market liquidity and lower market manipulation under the massive introduction of renewable energy resources, with the advantages in risk, simplicity and feasibility
• Proposed automatic trading peer-to-peer market design serving flexible resources transaction, applying a dynamic pricing strategy to provide more sufficient price signals. The market segmentation is explored during the evolution of future energy scenarios. The segmented market gains priority in market value, with the slight advantages in liquidity and preventing manipulation.
• Proposed the development stages of distribution-level electricity market, and explored the roles and functions of DSO under this transition pathway. The diverse engagement levels of DSO is explored, with the responsibility allocation and collaboration between DSO and other regulation institutes.
This work can help policymakers to settle rational rules and regulations of market transactions and operation facing penetrating renewable energy resources and distributed energy resources, further allocating roles and functions of distribution system operators. The market design which could mobilize market value quantitively and quantificationally is explored, with the consideration of boosting the motivation of market participants.

Date of Award	14 Sept 2022
Original language	English
Awarding Institution	University of Bath
Supervisor	Furong Li (Supervisor) & Ran Li (Supervisor)