A new measurement tool from researchers at the University of California, Riverside could help ease implementation of the smart grid.
It combines existing measures that assess power-generating companies’ ability to alter energy prices with smart grid components, such as large-scale storage, renewable energy, and demand response programs.
Users can determine the market power potential for utilities and other generators if they offered demand response or generated more power from renewable sources.
The smart grid measurement tool is outlined in the paper “A Unifying Approach to Assessing Market Power in Deregulated Energy Markets,” which received the Best Paper Award from the IEEE Power and Energy Society.
