Engineering topics

Hytowitz, Robin B.

Publications and source records attributed to Hytowitz, Robin B..

4 records

DOE OSTI2022

Flexibility Auctions: A Framework for Managing Imbalance Risk

As the electricity generated by variable resources grows, system operators and variable resources have to manage challenging imbalances between forward and real-time markets. The Flexibility Auction is a novel approach for managing imbalances as it will allow resources with imbalance risk to hedge their production by buying flexibility options. The flexibility options are offered by grid-connected resources that can provide physical flexibility. This presentation will focus on the design of the Flexibility Auction, its properties, and how it can complement system-level services such as CAISO's proposed imbalance reserves. The presentation will include simple examples to illustrate the impact of the Flexibility Auction on the market participants and the system's imbalance risk.

auction↗

DOE OSTI2021

An Integrated Paradigm for the Management of Delivery Risk in Electricity Markets: From Batteries to Insurance and Beyond [Slides]

In wholesale electricity markets today, flexibility from a limited number of distributed energy resources (DERs) is offered daily, and the value of flexibility is not yet recognized for economic hedging of delivery risk. Under a three-year project funded by the ARPA-E PERFORM program, a collaborative team is working towards developing an integrated risk management framework that will leverage flexibility from distributed and bulk resources to cost-effectively and reliably manage delivery risk of intermittent resources. Two concepts are at the core of the proposed integrated risk management framework: (A) flexibility options, which are a novel type of options and enable wholesale electricity market participants to hedge uncertainty by buying flexibility. (B) DER flexibility scores, which provide a way for utilities or aggregators to classify assets in groups with different likelihood of delivering contracted flexibility. This report presentation will focus on the proposed ISO-product "flexibility options," which is complementary to ramp and other products being introduced by ISOs/RTOs to manage net load uncertainties. Participating resources with imbalance risk can buy flexibility options to hedge their production, whereas grid-connected resources that can provide physical flexibility can offer flexibility options. We will present basics of the formulation for a day-ahead ISO market that matches buyers and sellers of this hedge in coordination with existing capabilities to schedule energy and ancillary services, and outline how their settlements mitigate the impact of imbalance risk.

24 POWER TRANSMISSION AND DISTRIBUTION↗

DOE OSTI2021

Flexibility Options: A Proposed ISO Product for Managing Energy Imbalance Risk

As the electricity generated by variable resources grows, system operators and variable resources have to manage challenging imbalances between forward and real-time markets. The Flexibility Auction is a novel approach for managing imbalances as it will allow resources with imbalance risk to hedge their production by buying flexibility options. The flexibility options are offered by grid-connected resources that can provide physical flexibility. This presentation provides an overview of the participants in the auction, the definition of flexibility options, and settlements.

27 ARPA - Advanced Research Projects Agency-Energy↗

DOE OSTI2021

Research Priorities and Opportunities in United States Wholesale Electricity Markets

The power system is currently undergoing a number of changes, including a rapidly evolving resource mix, growth of distributed energy resources (DERs), more active consumer participation, increased deployment of energy storage and hybrid resources, and more advanced communication and control requirements. These changes in the power system present numerous technical, economic, implementation, and policy challenges and research opportunities for power system operators. To help address these challenges, a collaboration among five research institutions—Argonne National Laboratory, the National Renewable Energy Laboratory, Lawrence Berkeley National Laboratory, the Electric Power Research Institute, and Johns Hopkins University—has been established to provide technical assistance to the seven U.S. Independent System Operators (ISOs) and Regional Transmission Organizations (RTOs). The 3-year project aims to leverage the advanced methods, tools, datasets, and resources of the collaborators to provide robust analytical support to address the high-priority market challenges that will be faced in the 2- to 10-year time horizon.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗