Skip to content

Commit

Permalink
add link of thesis and abstract for information paper
Browse files Browse the repository at this point in the history
  • Loading branch information
prakaa committed Jan 22, 2024
1 parent aca9f14 commit 898e1df
Showing 1 changed file with 6 additions and 2 deletions.
8 changes: 6 additions & 2 deletions source/14_information.md
Original file line number Diff line number Diff line change
Expand Up @@ -2,11 +2,15 @@

## Link to thesis

Link to the rest of the thesis
Market participation decisions and thus resource schedules are informed by knowledge processes, which provide current and forecasted power system and market information. As such these knowledge processes and, more broadly, market participation rules must be purpose-fit to enable resource scheduling that leads to effective and efficient system balancing. This chapter explores how market information (specifically in this case study, the centralised price forecasts generated by the system and market operator in the Australian National Electricity Market) and market participant operational strategies impact the **deployability** of balancing flexibility from energy-limited storage resources, which are expected to aid in balancing electricity markets with high penetrations of variable renewable energy through energy arbitrage. The purpose of this chapter is to address the "deployability" component of the second research objective of this thesis (see @sec:research_framework).

The content of this chapter is from a manuscript submitted to *Energy Policy* for peer-review and publication.

## Abstract

Abstract goes here
In wholesale electricity markets, resource schedules result from market participant decisions informed by knowledge processes, which provide current and forecasted power system and market information. Ensuring that these knowledge processes and market participation rules are purpose-fit is becoming increasingly important with growing deployments of energy storage resources expected to aid in balancing high renewables power systems through energy arbitrage.

Our study explores the scheduling coordination role of centralised price forecasts generated by the system and market operator in the fast, flexible and volatile Australian National Electricity Market. Our work offers three contributions: (1) highlighting the increasing frequency and severity of errors in these forecasts, and proposing a hypothesis that market participant (re)bidding is partially responsible for this phenomenon; (2) modelling the extent to which arbitrage revenues might be reduced should these forecasts guide battery energy storage scheduling; and (3) discussing potential changes to participant scheduling strategies and market design that could improve scheduling outcomes. We recommend that Australian policy-makers not only increase the frequency at which centralised knowledge processes are run, but also consider whether stricter market participation restrictions might incentivise participant bidding strategies that are less likely to induce sudden price forecast swings that can hamper effective scheduling.

## Introduction {#sec:info-intro}

Expand Down

0 comments on commit 898e1df

Please sign in to comment.