This thesis is aimed to estimate the severity of recent balancing costs fallen onto balancing responsible parties (BRPs), the quality of forecast incentive, and prove a blockchain-based secondary flexibility market with quota mechanism of trading activation rights an efficient and economically viable tool for BRPs for offsetting schedule deviations at short notice. After developing a prosumer-enabled model which is system integrated complying with existing balancing management, various scenarios of deviations exchange are emulated.
The focus of this work is set to justify the sufficiency of strategic value in blockchain technology as the market underlying infrastructure and as a complementary layer for the established data exchange platform. This thesis identifies blockchain benefits and regulatory challenges for synchronization of multiple flexibility providers, creating and managing deviations-conscious balancer communities, resulting in energy balancing costs reduction, enabling innovative business models and additional revenue streams for balancing groups.
The increasing uncertainty of the power supply in Germany due to the surge in fluctuating renewable energy, power plant failures and accidental changes in consumption lead to the energy system imbalance. This not only threatens the system security, but also turns into financially punitive consequences for energy market players. Current market-based solutions and the German established data exchange platform with market rules ‘MaBiS’ do not foster a bottom-up collaboration in balancing groups to timely offset schedule deviations. The capability to modify and/or shift consumption of industrial or commercial end-customers as well as to adjust energy output of generation units gives a unique opportunity for organizing a shared platform for flexibility services exchange to mitigate the risk of paying imbalance tariff.
Contents
Abstract
List of Figures
List of Tables
List of Abbreviations
1 Introduction
1.1 Problem statement
1.2 Research objective and research questions
1.3 Unique value of the project and scope limitations
1.4 Outline
2 Fundamentals
2.1 Key blockchain components to boost electricity balancing
2.2 Balancing electricity and imbalance sources in Germany
2.3 Balancing power market design
2.4 Balancing Group Management (BGM)
2.4.1 Balancing groups
2.4.2 Balancing Responsible Parties (BRP)
2.4.3 Management of balancing groups
2.4.4 Decentralized data management exchange framework in Germany
2.4.5 Balancing group accounting and settlement
2.4.6 Scheduling and deviations
2.5 Imbalance settlement price in Germany
3 Economical evaluation of balancing problem in Germany
3.1 Visualization of the latest consumption deviations for Germany
3.2 Latest trend of reBAP prices in line with regulation changes
3.3 Juxtaposition of historical reBAP values vs. spot prices
3.4 Markets arbitrage opportunity for BRPs
3.5 Germany-wide financial cost from being in imbalance
3.6 Clarification on direction of payment TSO-BRP
3.7 Risk management of BRP in line with the historic imbalance price analysis
4 Emerging solutions to avoid high balancing costs
4.1 Independent Aggregator and Demand Response regulatory barriers
4.2 The status quo for regulatory environment for the BGM
4.3 Regulatory challenges for end-customers in BGM over blockchain
4.4 Adjustments of market roles with blockchain model
4.5 P2P energy trading regulatory view in Germany
4.6 Service Model as a solution for P2P energy trading in German regulatory
5 Incorporation of blockchain components in the BGM
5.1 Secondary balancing market concept to facilitate decentralized balancing
5.1.1 Balancing scenarios split
5.1.2 In-Group balancing
5.1.3 An emulation instance for the quota market model
5.1.4 Inter-Group or cross-BRP balancing
5.1.5 Incentive mechanism against market prices
5.2 Rationale of blockchain as addition on top of the MaBiS
5.2.1 Key technological benefits of blockchain in the MaBiS settlement processes
5.2.2 Blockchain utility in financial transactions over MaBiS contracts
5.2.3 Potential blockchain Use Case in the sub-BG supervision
6 Conclusions
6.1 Discussion & Conclusion
6.2 Recommendations and outlook
Bibliography
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