Advanced Clearing Model in Prosumer Centric Local Flexibility Market

Abstract

The local flexibility market models have emerged as a market-based solution to respond to the challenges that the increase in distributed energy resources caused in the power and energy systems. Using Smart Grid enabling technologies, consumers and prosumers are prepared to respond to any possible demand-side flexibility event. In this scope, this work presents an advanced bidding model for the prosumers/consumers’ participation in a local flexibility market to solve existing issues in the local grid. The proposed advanced model consists of a single-sided auction-based clearing method where prosumer offers are ranked and chosen according to the price and other characteristics, such as their location and distance to the problem to be solved. The aim is to prioritize and select the offers that have a more positive impact on the situation to solve at the lowest possible cost.