Economic modelling of the Intelligent Grid

Intelligent Grid Research Cluster: Market and economic modelling of the impacts of distributed generation and local co-operating agent-based demand side management. (2008-2011) Funded by the CSIRO.

This project provides a comprehensive understanding of the impacts of distributed energy in the Australian electricity system. This includes the economic benefits due to deferral of network infrastructure as well as the enablement of new investment in various aspects of the electricity and energy system. It will also analyse the flow-on effects of such a massive DE deployment on the greater economy. Additionally it will provide support for the deployment of DE through recommendations on market structure and regulation.

The development of price response schemes for consumers and utilities, which will provide both system level economic benefits and end-user, cost reduction benefits. The project will provide the economic basis for energy policies needed to effectively transform Australia’s energy sector into a climate friendly state. This will cover: 

• Specifications for Carbon trading scheme or other greenhouse gas credit trading schemes
• Cost benefit analysis framework to help energy sector investors to make their investment decisions.
• Market risk management models and software algorithms for operating in new greenhouse gas markets.

Final report

• Foster, John, Wagner, Liam, Wild, Phillip, Froome, Craig, Bell, William Paul and Zhao, Junhua (2011) Intellegent Grid Research Cluster - Project 2: marketing and economic modelling of the impacts of distributed generation St Lucia, QLD, Australia: The University of Queensland, School of Economics

Other publications

• Lilley William E., Reedman Luke J., Wagner Liam D., Alie Colin F., Szatow Anthony R. "An economic evaluation of the potential for distributed energy in Australia",  Energy Policy, Available online 28 September 2012

• JH Zhao, J Foster, ZY Dong, KP Wong, Flexible transmission network planning considering distributed generation impacts, IEEE Transactions on Power Systems, Volume: 26 Issue:3, 2010, pages 1434 - 1443  (Citations via Google Scholar)

• Menezes, F., Quiggin, J.C., and Wagner, L.D., Grandfathering and greenhouse: the role of compensation and adjustment assistance in the introduction of a carbon emissions trading scheme for Australia, Economic Papers, 2009 vol. 28, no. 2 pp.82-92 (Citations via Google Scholar)

• Arief, A., Nappu, M.B., Gallagher, M.,Dong, Z.Y., Zhao, J., "Comparison of CPF and modal analysis methods in determining effective DG locations", Presented at 9th International Power and Energy Conference (IPEC), IEEE, Singapore, 27-29 October

• Wagner, L.D., Froome, C., and Foster, J., "Modeling the Broader Deployment of Demand Side Management onto the Australian National Electricity Markets" Presented at the 30th USAEE Conference, Washington DC., USA, October 9-12 2011 (Extended Abstract)

• Froome, C., and Wagner, L.D. "The Benefits of Embedded Storage within a Localised Distribution Network" Presented at the 8th Asia Pacific Conference on Sustainable Energy & Environmental Technologies, Adelaide July 2011

• Wagner, L.D., and Reedman, L., "Modeling and Analysis of Spot Market Volatility Following the Large Scale Deployment of Distributed Generation onto Australia’s National Electricity Market", Presented at the 36th International Energy Economics Association Conference, Stockholm Sweden, June 2011 (Extended Abstract) (Presentation)

• Wagner, L.D., and Reedman, L., "Can the Large Scale Deployment of Distributed Generation Onto Electricity Markets Reduce Carbon Emissions: An Australian Case Study", Presented at the 36th International Energy Economics Association Conference, Stockholm Sweden, June 2011 (Extended Abstract) (Presentation)

• Froome, C., and Wagner, L.D. "Energy Storage and its Ability to Add Stability to Intermittent Generation and Reduce Distribution Network Costs" 29th USAEE/IAEE North American Conference, "Energy and the Environment: Conventional and Unconventional Solutions" October 14-16, 2010. Calgary, Canada (Extended Abstract) (Presentation)

• Wagner, L.D., and Reedman, L., "Modeling the Large Scale Deployment of Distributed Generation onto Electricity Markets" 29th USAEE/IAEE North American Conference, "Energy and the Environment: Conventional and Unconventional Solutions" October 14-16, 2010. Calgary, Canada

• Wagner, L.D., and Reedman, L., “Modeling the deployment of plug-in hybrid and electric vehicles and their effects on the Australian National Electricity Market.” Presented at 2010 IEEE Conference on Innovative Technologies for an Efficient and Reliable Electricity Supply, Boston, U.S.A., September 2010  (Conference Paper)

• Hua, K.Q., Dong, Z.Y., Bansal, R., Zhao, J., Chen, G., Su, Y., "A method for wind farm planning in a market environment", IEEE Power and Energy Society (PES) 2010 General Meeting, 25 - 29 July, 2010

• John Foster, Liam Wagner, Phil Wild, William Paul Bell, Junhua Zhao and Craig Froome, Market and Economic Modelling of the Intelligent Grid: Interim Report 2011

• John Foster, Liam Wagner, Phil Wild, Junhua Zhao, Lucas Skoofa, Craig Froome and Ariel Liebman, Market and Economic Modelling of the Intelligent Grid: End of Year Report 2010

• John Foster, Liam Wagner, Junhua Zhao, Lucas Skoofa and Craig Froome,Market and Economic Modelling of the Intelligent Grid: End of Year Report 2009

• John Foster, Liam Wagner and Ariel Liebman,Market and Economic Modelling of the Intelligent Grid: 1st Interim Report 2009

• CSIRO (2009),"Intelligent Grid – A value proposition for distributed energy in Australia". CSIRO Report ET/IR 1152. (EEMG Members are Contributing Authors)