Cover
List of Contributors
Foreword
Preface
1 Power Market Fundamentals
1. 1.1 Introduction
2. 1.2 Basic Design of Power Markets
3. 1.3 Mechanism for Auctions
4. 1.4 Markets for Futures, Energy, and Balancing
5. 1.5 Conclusions and Further Reading
6. References
2 Local and Micro Power Markets
1. 2.1 Introduction
2. 2.2 Why Local and Micro?
3. 2.3 The Evolution of Power Systems
4. 2.4 Introduction to Microgrids
5. 2.5 Local and Micro Power Market Concepts
6. 2.6 Local Market Design
7. 2.7 Conclusions and Discussion
8. References
3 Micro Markets in Microgrids
1. 3.1 Introduction
2. 3.2 Basic Definitions of Micro Market Functions in Microgrids
3. 3.3 Operational Characteristics of Microgrid‐based Micro Markets
4. 3.4 Market Models
5. 3.5 Conclusions
6. References
4 Coupled Local Power Markets
1. 4.1 Introduction
2. 4.2 Local and Wholesale Market Coupling
3. 4.3 Local Market Clearing Mechanism in Coupled Markets
4. 4.4 Conclusions and Discussion
5. References
5 Digital Business Models for Local and Micro Power Markets
1. 5.1 What are Digital Business Models?
2. 5.2 Local Power Markets and Digital Business Models
3. 5.3 The EMPOWER Platform and Business Models
4. 5.4 Social Acceptance of Local Power Markets
5. 5.5 Conclusion
6. Acknowledgement
7. References
6 Regulation of Micro and Local Power Markets
1. 6.1 Power Market Regulation
2. 6.2 Common Power Market Regulation
3. 6.3 Regulation of Micro and Local Power Markets
4. 6.4 Trade Settings
5. 6.5 Further Discussion
6. Acknowledgements
7. References
Index
End User License Agreement

List of Tables

Chapter 1
1. Table 1.1 Generation bids for electricity trading between 12 : 00 and 13 : 00.
2. Table 1.2 Demand offers for electricity between 12 : 00 and 13 : 00.
3. Table 1.3 Table of balances, incomes and expenses after market clearing.
4. Table 1.4 Intraday market structure of the Spanish market operator OMIE [18].
Chapter 2
1. Table 2.1 Main distributed generation technologies [22] .
2. Table 2.2 Local and micro power markets definition review.
3. Table 2.3 Local market characteristics and stakeholders.
4. Table 2.4 Local market services and approach review.
Chapter 3
1. Table 3.1 Different microgrid configurations.
2. Table 3.2 Major differences between competitive bargaining and cooperative negot...
Chapter 5
1. Table 5.1 Ideal business models based on the EMPOWER platform.
2. Table 5.2 Utility values from the energy cooperative study.
3. Table 5.3 Share of preferences of three simulated business models.

List of Illustrations

Chapter 1
1. Figure 1.1 Comparison of (a) monopolistic utility, (b) wholesale purchase agenc...
2. Figure 1.2 Comparison of one‐sided and double‐sided auctions.
3. Figure 1.3 Auction mechanisms for electricity products.
4. Figure 1.4 Stacked offers and bids.
5. Figure 1.5 One‐sided auction stacked supply curve.
6. Figure 1.6 Aggregated supply and demand curves of the Spanish market operator O...
7. Figure 1.7 Intraday market sessions timeline.
Chapter 2
1. Figure 2.1 Scheme of a microgrid [17] .
2. Figure 2.2 Microgrid components.
3. Figure 2.3 A microgrid as a single entity viewpoint. Interconnection with an ex...
4. Figure 2.4 Interconnection of two microgrids. Master–slave topology [17] .
5. Figure 2.5 Interconnection of two microgrids. Centralized topology [17] .
6. Figure 2.6 Isolated microgrid scheme.
7. Figure 2.7 Centralized approach vs P2P approach transactions.
8. Figure 2.8 Local energy market scheme and interaction.
9. Figure 2.9 Classification of DSM and DR activities.
10. Figure 2.10 Flexibility services and main stakeholders. Figure based on [64] ...
11. Figure 2.11 Flexibility services in a local flexibility market. Scheme and inte...
12. Figure 2.12 Wholesale and local market relation in the short term. Based on [13...
Chapter 3
1. Figure 3.1 A standard microgrid configuration showing points of common coupling...
2. Figure 3.2 Illustration of the Pareto front and distribution among micro market...
3. Figure 3.3 Impact of grid tariffs, taxes, and commissions for buying and sellin...
4. Figure 3.4 Application of the cross‐subsidy concept within a micro market. The ...
5. Figure 3.5 Model 2 depicting a concept with central control and distributed dec...
6. Figure 3.6 Model 3 depicted with central market facilitating auctions and a tru...
7. Figure 3.7 A classic example where different bids and asks are made to find the...
8. Figure 3.8 Model 4 representing P2P transactions.
9. Figure 3.9 Model 5 pertains to markets where the interest of the community enco...
Chapter 4
1. Figure 4.1 Local flexibility market purposes.
2. Figure 4.2 Local energy community example connected to a DSO grid and to the LF...
3. Figure 4.3 The FDs of the LEC make flexibility offers for different energy volu...
4. Figure 4.4 Wholesale and local market interaction in short‐term operations.
5. Figure 4.5 Local flexibility market clearing sequence.
6. Figure 4.6 Interactions between different market participants in the proposed D...
7. Figure 4.7 Schematic diagram of the proposed ID scheduling process.
Chapter 5
1. Figure 5.1 A centrally organized electricity supply system.
2. Figure 5.2 A local power market in a decentralized energy supply system.
3. Figure 5.3 Priority reasons for participation.
4. Figure 5.4 Priority means of participation.
5. Figure 5.5 Priority services for participation.
6. Figure 5.6 Priority risks for participation.
7. Figure 5.7 Level of focus on the digitalization trend in utilities' strategy do...
8. Figure 5.8 Level of focus on the decentralization trend in utilities' strategy ...
9. Figure 5.9 Country differences in the focus on decentralization and digitalizat...
10. Figure 5.10 Relative importance of attributes to energy cooperative members.

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Library of Congress Cataloging‐in‐Publication Data

Names: Sumper, Andreas, editor.

Title: Micro and local power markets / edited by Andreas Sumper.

Description: First edition. | Hoboken, NJ : John Wiley & Sons, Inc., [2019] |

Includes bibliographical references and index. |

Identifiers: LCCN 2019003712 (print) | LCCN 2019004377 (ebook) | ISBN

9781119434566 (Adobe PDF) | ISBN 9781119434542 (ePub) | ISBN 9781119434504

(hardcover)

Subjects: LCSH: Electric power--Marketing. | Electric utilities. | Microgrids

(Smart power grids) | Energy policy. | Interconnected electric utility

systems.

Classification: LCC HD9685.A2 (ebook) | LCC HD9685.A2 M484 2019 (print) | DDC

333.793/20688--dc23

LC record available at https://lccn.loc.gov/2019003712

Cover Design: Wiley

Cover Images: Foreground: Courtesy of Mrs. Íngrid Munné, Background: © Pobytov/Getty Images

List of Contributors

Íngrid Munné‐Collado

CITCEA‐UPC