Market Response for Real-Time Energy Balancing with Fuzzy Logic
Market response for real-time energy balancing is a promising tool for power balancing: Smart Balancing. Transparency about the balance and imbalance price in the control area incentivizes market response. Market participants benefit from real-time business cases in addition to energy and balancing products. Fuzzy logic is introduced to optimize revenues for market participants with minimal risk. Market response (with fuzzy logic) is simulated with marginal vs. pay-as-bid clearing mechanisms and single vs. dual imbalance pricing. Single imbalance pricing can lead to overcompensation. This requires an additional rule to meet the Smart Balancing definition. Smart Balancing is present with a combination of single and dual pricing.