Study of the Impact of Introducing Smart Meters in the Spanish Electricity Market   S. Martin and M. Cabral   2017/04/25

Abstract

The impact of hourly consumption information provided by smart meters on the operation of a risk averse retailer in the Spanish electricity market is studied. It is assumed the retailer can manage certain amount of consumers’ demand to reduce its operation cost. It can operate in the forward market, day-ahead market and balancing market. Uncertainty in energy price in each market and demand from consumers is taken into account through scenario trees. Conditional Value at Risk is used as a risk measure. Model is posed as a linear two stages stochastic program. The model is applied to real data from the Spanish market.

Authors and affiliations

S. Martin(1) and M. Cabral
1. Department of Electrical Engineering. Escuela Politécnica Superior, Universidad de Málag, (Spain)

Key word

Smart metering, retailer, uncertainty, demand side management, risk management.

References

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