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Balancing Market Implementation

alt_text — **Figure 4.7**: Structure of Balancing Market in Grid Singularity exchange

Grid Singularity energy exchange bottom-up market design allows participants to engage in Local Energy Market (LEM) for energy trading, providing energy balance at a local level. Grid Singularity Exchange flexibility trading also facilitates the procurement of flexibility locally from participants to assist distribution grid operation in balancing the grid.

Assets¶

In the Grid Singularity Exchange, balancing has been implemented using:

Fast responding non-critical loads to provide load shedding
Battery storage
Commercial power plants

The trading strategies of energy assets like Loads, Storages and Power Plants can be used to balance the grid by placing balancing offers. These assets participate in the balancing market only if they are registered in the Asset Registry.

Asset Registry¶

The balancing asset registry is a dictionary that contains the names of assets as keys and the balancing rates as tuple values: (demand balancing rate, supply balancing rate).

asset_registry_dict = {
    "H1 General Load": (33, 35),
    "H2 General Load": (33, 35),
    "H1 Storage1": (33, 35),
    "H1 Storage2": (33, 35),
}

Balancing Market¶

The present setting is a One-Sided Pay-as-Offer market, which accepts balancing_offers from energy assets and connected hierarchies of balancing_market. balancing_offers could be positive or negative. It also facilitates the balancing_trade.

Balancing Agent¶

The balancing agent follows the lead of the spot_market_trade of its lower hierarchy. Whenever there is a trade in the lower hierarchy of spot_market, it will try to secure a share of spot market trades in the balancing market.

Constant Parameters¶

The following are the constant parameters related to the balancing market, with defaults available here.

ENABLE_BALANCING_MARKET → (Default: False) (It enables the simulation with Balancing Market)

BALANCING_SPOT_TRADE_RATIO → (Default: 0.2) (It dictates the ratio of spot_market_energy to be traded in balancing market)

BALANCING_OFFER_DEMAND_RATIO → (Default: 0.1) (It dictates the ratio of spot_market_energy to be offered in balancing market as demand_balancing_offer)

BALANCING_OFFER_SUPPLY_RATIO → (Default: 0.1) (It dictates the ratio of spot_market_energy to be offered in balancing market as supply_balancing_offer)

BALANCING_FLEXIBLE_LOADS_SUPPORT → (Default: True) (It enables Load Strategy to place supply_balancing_offer (effectively curtailing it's load))

Multiple examples of balancing market setup are available here.