The influence of the energy spot market on ‘on the micro grid markets’ (OMMs)

Description

The transition towards distributed energy resources (DER) for electricity generation has engendered new applications for information systems that enable the development of innovative business models for grid control and operation. Information systems enable the merging of DERs and energy consumers into micro grids. Micro grids increase efficiency, for example through shorter transmission distances. Cost savings from gains in efficiency can be distributed among micro grid participants via an ‘on the micro grid market’ (OMM) platform. However, due to differences in power plant parks, and fluctuations in the amounts of renewable energy generated, energy prices on OMMs are likely to differ from those on the spot market. With varying prices on both markets, from time to time the supply or demand side of the OMM may prefer to trade on the spot market – and that could cause it to stop functioning. The researchers developed an economic model to analyse the conditions under which OMMs are a viable concept for energy trading, and their results indicate that OMMs can in indeed function in competitive energy markets.

Period	18 Jun 2015 → 19 Jun 2015
Event title	Erasmus Energy Forum
Event type	Unkonwn
Degree of Recognition	International