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Resource pooling in electricity grids: wind, storage and transmission

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Fig. 1

Notes

  1. The transmission constraints are also called thermal constraints. In an AC network, there are also voltage and stability constraints which impose relatively low costs in the GB transmission network [3, 4], motivating our later use of the DC approximation.

  2. To indicate the potential magnitude of this effect, suppose electricity demand is \(D(p) = p^{-1/\alpha }\) as a function of price, where \(-1/\alpha \) is the price elasticity of demand, and total generating capacity is \(\sum C_n\). Even if generator m has no short-run production costs, generator m will increase its profit by lowering the capacity \(C_m\) it offers iff \(C_m > \sum C_n/\alpha \). A short-run elasticity of \(-0.1\) [6], corresponding to \(\alpha = 10\), would require a generator to contribute no more than \(10\%\) of total capacity to avoid this perverse incentive.

References

  1. National Academies of Sciences: Engineering, and Medicine. National Academies Press, Analytic research foundations for the next-generation electric grid (2016)

  2. Mancarella, P., Moriarty, J., Philpott, A., Veraart, A., Zachary, S., Zwart, B. (eds.): The mathematics of energy systems. Phil. Trans. Roy. Soc. 379, 20190425 (2021). https://doi.org/10.1098/rsta.2019.0425

  3. National Grid Electricity System Operator. Operational Transparency Forum, 22 December 2021

  4. National Grid Electricity System Operator. Modelling constraint costs, Network Options Assessment 2020/21

  5. Acemoglu, D., Kakhbod, A., Ozdaglar, A.: Competition in electricity markets with renewable energy sources. Energy J. 38, 458 (2017)

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  7. Wischik, D., Handley, M., Braun, M.B.: The resource pooling principle. ACM SIGCOMM Comput. Commun. Rev. 38(5), 47–52 (2008)

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  1. Centre for Mathematical Sciences, University of Cambridge, Cambridge, CB3 0WB, UK

    Frank Kelly

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The author is indebted to Chris Dent, Paul Plumtre, Stan Zachary and Bert Zwart for helpful discussions.

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Kelly, F. Resource pooling in electricity grids: wind, storage and transmission. Queueing Syst 100, 461–463 (2022). https://doi.org/10.1007/s11134-022-09801-7

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