Open AccessNovel framework for investment prioritisation based on flexibility needs assessment
Author(s) -
Davidov Sreten,
Curk Jurij
Publication year - 2020
Publication title -
iet generation, transmission and distribution
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.92
H-Index - 110
eISSN - 1751-8695
pISSN - 1751-8687
DOI - 10.1049/iet-gtd.2020.1334
Subject(s) - flexibility (engineering) , computer science , risk analysis (engineering) , node (physics) , investment (military) , portfolio , supply network , quality (philosophy) , reliability engineering , power (physics) , business , engineering , economics , physics , management , structural engineering , finance , quantum mechanics , politics , political science , law , philosophy , epistemology
This study presents a novel framework for investment prioritisation in a distribution network by performing a flexibility needs assessment with regards to power quality parameters. Power range and time instances of activation are identified with a view of maintaining normal operation. A step forward is made by incorporating the importance of the flexibility needs assessment in investment prioritisation as part of the network expansion planning. The proposed framework consists of three procedures: input data preparation, operational calculations and the post‐processing of results, which are used to quantify the flexibility needs and propose an investment prioritisation list. A bus node, which forms a part of the existing distribution network in Slovenia, is used to demonstrate the general applicability of the framework. As a result, an investment prioritisation list was compiled by assessing the flexibility needs. The secure power supply buffer of the node is determined, while the quantification of the flexibility power range and time instances of activation are also provided in order to further mitigate network constraints. Apart from providing valuable information to network operators, the newly proposed framework lays the foundation for aggregators and market players to plan and self‐balance their portfolio and position when providing flexibility market services.