Local flexibility market design for aggregators providing multiple flexibility services at distribution network level

This paper presents a general description of local flexibility markets as a market-based management mechanism for aggregators. The high penetration of distributed energy resources introduces new flexibility services like prosumer or community self-balancing, congestion management and time-of-use optimization. This work is focused on the flexibility framework to enable multiple participants to compete for selling or buying flexibility. In this framework, the aggregator acts as a local market operator and supervises flexibility transactions of the local energy community. Local market participation is voluntary. Potential flexibility stakeholders are the distribution system operator, the balance responsible party and end-users themselves. Flexibility is sold by means of loads, generators, storage units and electric vehicles. Finally, this paper presents needed interactions between all local market stakeholders, the corresponding inputs and outputs of local market operation algorithms from participants and a case study to highlight the application of the local flexibility market in three scenarios. The local market framework could postpone grid upgrades, reduce energy costs and increase distribution grids’ hosting capacity.Postprint (published version

Model-based analysis of the potential of macroinvertebrates as indicators for microbial pathogens in rivers

The quality of water prior to its use for drinking, farming or recreational purposes must comply with several physicochemical and microbiological standards to safeguard society and the environment. In order to satisfy these standards, expensive analyses and highly trained personnel in laboratories are required. Whereas macroinvertebrates have been used as ecological indicators to review the health of aquatic ecosystems. In this research, the relationship between microbial pathogens and macrobenthic invertebrate taxa was examined in the Machangara River located in the southern Andes of Ecuador, in which 33 sites, according to their land use, were chosen to collect physicochemical, microbiological and biological parameters. Decision tree models (DTMs) were used to generate rules that link the presence and abundance of some benthic families to microbial pathogen standards. The aforementioned DTMs provide an indirect, approximate, and quick way of checking the fulfillment of Ecuadorian regulations for water use related to microbial pathogens. The models built and optimized with the WEKA package, were evaluated based on both statistical and ecological criteria to make them as clear and simple as possible. As a result, two different and reliable models were obtained, which could be used as proxy indicators in a preliminary assessment of pollution of microbial pathogens in rivers. The DTMs can be easily applied by staff with minimal training in the identification of the sensitive taxa selected by the models. The presence of selected macroinvertebrate taxa in conjunction with the decision trees can be used as a screening tool to evaluate sites that require additional follow up analyses to confirm whether microbial water quality standards are met

Condition monitoring benefit for offshore wind turbines

As more offshore wind parks are commissioned, the focus will inevitably shift from a planning, construction and warranty focus to an operation, maintenance and investment payback focus. In this latter case, both short-term risks associated with wind turbine component assemblies, and longterm risks related to structural integrity of the support structure, are highly important. This research focuses on the role of condition monitoring to lower costs associated with short-term reliability and long-term asset integrity. This enables comparative estimates of life cycle costs and reduction in uncertainty, both of which are of value to investors

Real Options Methodology Applied to the ICT Sector: A Survey

This survey focuses on the application of real options methodology to the information and communications technology (ICT) industries. It examines the development of the methodology to areas as diverse as wireless cell site investments to dynamic pricing issues. In addition to aiding the reader in understanding the breadth of the applications, it demonstrates the importance of the topic. It provides a guide to the reader who is interested in exploring the topic in greater depth.Discounted cash flow, economic methodology, information and communications technology (ICT), investment, investment under uncertainty, options, present discounted value, real options, valuations.

The Benefits of Improved Environmental Accounting: An Economic Framework to Identify Priorities

Improved environmental accounting is increasingly seen by corporate managers and environmental advocates alike as a necessary complement to improved environmental decision-making within the private sector. This paper develops an economic approach to the evaluation of environmental accounting's benefits and derives the value, and determinants, of improved accounting information in several production and capital budgeting contexts. Using concepts from managerial economics, finance, and organizational theory, the analysis identifies the types of environmental accounting improvement that are most likely to yield significant financial and environmental benefits.

Energy only, capacity market and security of supply. A stochastic equilibrium analysis

Former generation capacity expansion models were formulated as optimization problems. These included a reliability criterion and hence guaranteed security of supply. The situation is different in restructured markets where investments need to be incentivised by the margin resulting from electricity sales after accounting for fuel costs. The situation is further complicated by the payments and charges on the carbon market. We formulate an equilibrium model of the electricity sector with both investments and operations. Electricity prices are set at the fuel cost of the last operating unit when there is no curtailment, and at some regulated price cap when there is curtailment. There is a CO2 market and different policies for allocating allowances. Todays situation is quite risky for investors. Fuel prices are more volatile than ever; the total amount of CO2 allowances and the allocation method will only be known after investments has been decided. The equilibrium model is thus one under uncertainty. Agents can be risk neutral or risk averse. We model risk aversion through a CVaR of the net margin of the industry. The CVaR induces a risk neutral probability according to which investors value their plants. The model is formulated as a complementarity problem (including the CVaR valuation of investment). An illustration is provided on a small problem that captures the essence of today electricity world: a choice restricted to coal and gas, a peaky load curve because of wind penetration, uncertain fuel prices and an evolving carbon market (EU-ETS). We show that we might have problem of security of supply if we do not implement a capacity market.capacity adequacy, risk functions, stochastic equilibrium models