An approach to imbalance power management using demand response in electricity balancing market

Abstract

Imbalance power management is a key operational task for a system operator. Imbalance power is produced from the difference in electrical energy supply and demand in the real operational time which deviates power system stability. In this paper, a balancing market model using demand response is developed to mitigate imbalance power. In context, a case study of balancing market model is investigated using flexible residential load along with nord pool spot market and imbalance data Therefore, the market model is simulated in MATLAB for five weeks. The simulation result is evaluated in order to determine imbalance reduction value, flexibility benefits and demand response value. Finally, the study is concluded with the propositions of future balancing market model contribution in imbalance reduction using demand response.