2019
DOI: 10.1007/s40565-019-0513-x
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Risk assessment of microgrid aggregators considering demand response and uncertain renewable energy sources

Abstract: In power market environment, the growing importance of demand response (DR) and renewable energy source (RES) attracts more for-profit DR and RES aggregators to compete with each other to maximize their profit. Meanwhile, the intermittent natures of these alternative sources along with the competition add to the probable financial risk of the aggregators. The objective of the paper is to highlight this financial risk of aggregators in such uncertain environment while estimating DR magnitude and power generated… Show more

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Cited by 37 publications
(18 citation statements)
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References 31 publications
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“…Focusing on the most recent literature in the VPP field, the work in [24] proposes a method to coordinate the operation of a VPP and voltage regulation to improve the static voltage stability in a distribution network. In [25], a DR participation degree is established to improve the operation of energy storage provided by both battery storage and pumped storage in a microgrid. In [26], incentives are paid for DR to maximize the benefits for energy retailers.…”
Section: Ctn Dgn Fimentioning
confidence: 99%
“…Focusing on the most recent literature in the VPP field, the work in [24] proposes a method to coordinate the operation of a VPP and voltage regulation to improve the static voltage stability in a distribution network. In [25], a DR participation degree is established to improve the operation of energy storage provided by both battery storage and pumped storage in a microgrid. In [26], incentives are paid for DR to maximize the benefits for energy retailers.…”
Section: Ctn Dgn Fimentioning
confidence: 99%
“…As highlighted by [9] and [10], the influence of flexibility on power system security constitutes a research gap, since most existing works only focus on benefits of flexibility utilization. Some works shed light on specific physical threats, such as uncertain customer behavior [11]- [13] or financial threats, for instance the financial risk of aggregators due to the intermittent nature of flexibility assets [14]. Other works investigate cyber threats which are introduced by the application of new smart grid technologies, such as smart meters (SMs) and advanced metering infrastructure [15]- [18].…”
Section: A Related Workmentioning
confidence: 99%
“…A more detailed explanation of each DRP is available in Reference 30. Until recently, DR programs are used as a tool to curtail the peak demand and flatten the load profile in order to achieve economic benefits of DR aggregators 31‐33 and to ensure the reliability of the system by maintaining proper reserve power through different DR programs 34‐36 . Also, in Reference 19, the authors have controlled the low voltage distribution feeder voltage using the smart household appliance.…”
Section: Introductionmentioning
confidence: 99%