Search results for "Balancing power"

Customer benefits of demand-side management in the Nordic electricity market

2016

The increasing share of renewable energy sources is likely to lead to price effects in Nordic electricity market, resulting especially in increased volatility of spot and imbalance prices. The greater price volatility and amount of required balancing power increase the need for Demand-Side Management (DSM) in the electricity market and may as well increase the financial benefits of DSM participants. In this research I study the DSM in electricity mar-ket and evaluate how large the financial benefits of DSM participants could be. Monte Carlo simulation method is used to simulate imbalance prices with different volatilities for Finland and Sweden. The results show that increasing volatility m…