Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte.Abstract: We present a novel method of determining the contribution of load-shifting Demand Response (DR) to energy and reserve markets. We model DR in an Mixed Complementarity Problem (MCP) framework with high levels of wind penetration. Investment, exit and operational decisions are optimised simultaneously. We examine the potential for DR to participate in both energy and reserve markets. DR participation in the energy market reduces costs and prices but the impact of DR participation in reserve markets is limited. DR and wind generation are strongly complementary, due to the ability of DR to mitigate against the variability of wind generation, with the highest impacts of DR seen at high levels of wind penetration. DR participation in the energy market gives rise to lower equilibrium levels of investment in conventional generation and induces a Pareto improvement versus a market with no DR participation. The total impact of DR is highly dependent on specific system characteristics.Abstract-We present a novel method of determining the contribution of load-shifting Demand Response (DR) to energy and reserve markets. We model DR in an Mixed Complementarity Problem (MCP) framework with high levels of wind penetration. Investment, exit and operational decisions are optimised simultaneously. We examine the potential for DR to participate in both energy and reserve markets. DR participation in the energy market reduces costs and prices but the impact of DR participation in reserve markets is limited. DR and wind generation are strongly complementary, due to the ability of DR to mitigate against the variability of wind generation, with the highest impacts of DR seen at high levels of wind penetration. DR participation in the energy market gives rise to lower equilibrium levels of investment in conventional generation and induces a Pareto improvement versus a market with no DR participation. The total impact of DR is highly dependent on specific system characteristics.
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