The value of residential flexibility to manage a BRP portfolio: A Belgian case study

This article focuses on the short term management of an energy portfolio with a considerable share of wind generation by a Balance Responsible Party. The portfolio consists of Gas Fired Power Plants and producers of wind energy on the supply side, and industrial and residential consumers on the demand side. Different balancing options are considered to manage the portfolio: upward or downward regulation of Gas Fired Power Plants, electricity market trading and shifting residential flexible demand (i.e. washing machines, dryers, dishwashers and electric hot water heaters). The remaining imbalance is settled via the balancing mechanism. The article presents a qualitative, multi-actor business model, but also includes a quantitative analysis based on a Belgian case study. Simulation results show yearly revenues for a residential consumer offering flexibility of up to €20.