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RP1036: Decentralised Electricity Markets

Project leader name: 
Luke Marshall
Project status: 
Project period: 

Electricity networks are entering a period of disruption due to rapidly advancing new distributed energy technologies. This project aims to address the question of whether existing market arrangements can facilitate efficient investment and operation of distributed energy resources (DERs), and how different arrangements may help facilitate more efficient outcomes. As the advent of DERs may precipitate a transfer of ownership of electricity assets to from governments and corporates to individuals and smaller organisations, these questions are fundamental to the future social and economic wellbeing of our society.

This project uses an iterative methodology that will be repeated multiple times to conduct investigations into the retail, wholesale and forwards/futures markets of the Australian National Electricity Market (NEM). This process involves identifying key market features using new developments in AI and machine learning to process large data streams from market operators. The next step is to build a model that simulates these markets. This model will be extended to include high-penetration DERs to measure the impact of distributed energy on existing competition indicators. These results are intended to determine recommendations for improvements in DER integration in the NEM. A key feature of this research will be the application of algorithmic game theory to model oligopolistic competition in electricity markets, and determine the impact of adding near-zero marginal cost electricity (ie. distributed renewables) to existing and experimental market models.

Publications related to this project

Peer Reviewed Research Publications

In this paper, the coincidence of generation and consumption in a micro-grid setting is examined over different timeframes using a software based simulation, and the impact of different time intervals for accounting is explored using an algorithmic theoretical approach.

Peer Reviewed Research Publications

In this paper, a new open source software model for assessing technical and commercial outcomes of local electricity sharing is presented.  

Peer Reviewed Research Publications
This paper aims to revisit the way that distributed energy resources (DERs) interact with the present structures of the Australian National Electricity Market (NEM), and consider opportunities to improve the interface between centralised and distributed resource operation and investment.
CRCLCL Project Posters
Student Poster – Participants Annual Forum 2017 - Luke Marshall DECENTRALISED ELECTRICITY MARKETS