Energy arbitrage with thermostatically controlled loads

Value of thermostatic loads in future low-carbon Great Britain system

“…Individual customers or entities like aggregators or system operator may employ the intrinsic flexibility of these devices and benefit from their provision of a portfolio of frequency response services or realizing energy arbitrage. The potential value of thermostatic loads in future low-carbon electricity systems has been demonstrated in previous works [2,4,5]. The studies in [2,4] quantified the cost savings for TCLs supplying primary frequency response only, while [5] highlighted the value of flexible energy consumption in response to wholesale energy price differences.…”

“…The potential value of thermostatic loads in future low-carbon electricity systems has been demonstrated in previous works [2,4,5]. The studies in [2,4] quantified the cost savings for TCLs supplying primary frequency response only, while [5] highlighted the value of flexible energy consumption in response to wholesale energy price differences. Limitations in the adopted control strategies could not show the benefits of simultaneously optimizing the allocation of multiple services, as demonstrated in [6] for typical storage units.…”

Coordinating Heterogeneous Distributed Energy Resources for Provision of Frequency Regulation Services

“…This optimization can also be rewritten in the form in (10). Suppose the solution to (11) was calculated with l = 0.…”

“…We utilize "Normalized Dynamic and Traditional Regulation Signals" from PJM for the period January [1][2][3][4][5][6][7][8][9][10][11][12][13][14][15][16][17][18]2013. This data is available at [23], and includes two regulation signals-RegD, a fast response signal, and RegA, a filtered version of RegD for slower ramping generators; both signals are updated every 2 s. Figure 1 shows a representative segment of the aforementioned data.…”

“…There have been many recent papers that exploit the salient features of DERs in different ways, e.g., [10] uses receding horizon model predictive control of flexible loads for energy arbitrage. The framework proposed in [11] utilizes stochastic dynamic programming to arrive at a solution to a Markov process in which flexible loads respond to broadcasted prices.…”