ARPA-E selected Energy Trading Analytics to develop a novel, state-of-the-art stochastic market tool to redesign wholesale real-time energy and reserve markets for improved information aggregation, reliability and security, and consumer choice as part of the PERFORM program. The new design will be supported by intelligent energy-portfolio risk management tools that aggregate consumer-prioritized flexible demand assets (e.g. air conditioners, water heaters, energy storage) into flexible virtual power plants offered into real-time markets as demand reserves. To evaluate the risk and performance of the proposed market trading system, simulations and pre-pilot tests will be conducted in the PJM Interconnection, the world’s largest wholesale electricity market.
The goal of this redesigned market trading system is to advance incentive-compatible risk management, foster robust decentralized decision-making for real-time market operations and operational planning under uncertainty, and attract innovation and investment opportunities. The proposed approach is the next evolution towards an innovative market trading platform supported by intelligent energy-portfolio risk management tools, leveraging emerging distributed resources, storage, and smart grid technologies for meeting the energy needs of the future.
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