Paper Info
Title
Mitigating load forecast errors for suppliers by utilizing energy storage at a substation level
Abstract
Due to the growth of intermittent generation and flexible demand, the difference between real metered load profiles and predicted profiles has increased significantly. This has caused a higher cost to suppliers as they have to mitigate the errors by using costly fast response generators or buying expensive energy from other suppliers. Improving load forecast accuracy is an alternative to reduce the difference and consequently the costs, but it relies on large quantities of historical load data which is not necessarily available. This paper utilises a novel control strategy for energy storage systems to mitigate forecast errors for suppliers. This results in energy cost savings and the Use-of-System (UoS) savings. In order to test the charging/discharging strategies and quantify the economic benefits, a case study has been conducted by utilizing smart metering data. The case study has produced a 33.2% cost reduction in the energy cost savings.
Year
DOI
Venue
2017
10.1109/ISGTEurope.2017.8260117
2017 IEEE PES Innovative Smart Grid Technologies Conference Europe (ISGT-Europe)
Keywords
Field
DocType
Charging/discharging methodology,Energy cost,Energy storage,Forecast uncertainty,UoS cost
Energy storage,Computer science,Load modeling,Load forecasting,Metering mode,Cost reduction,Reliability engineering,Economic benefits
Conference
ISSN
ISBN
Citations 
2165-4816
978-1-5386-1954-4
0
PageRank 
References 
Authors
0.34
0
6
Name
Order
Citations
PageRank
Xiaohe Yan102.03
Qiuyang Ma200.34
Heather Wyman-Pain300.34
Chenghong Gu447.82
Ran Li5142.45
Furong Li6188.16