Advancements in Electricity Markets and Regulation: Focus on Integration of Distributed Energy Resources

This article highlights the ongoing activities and discussions within the C5 Committee on Electricity Markets and Regulation, emphasizing the impacts of market approaches, regulatory roles, and emerging technologies in the electric power sector. Key areas of attention include market structures, regulatory changes, coordination, and the role of markets in integrating Distributed Energy Resources (DERs). The preferential subjects for 2020 and 2022 also provide insights into the evolving market designs and regulations to accommodate distributed energy resources and promote innovation in electricity markets.

• Electricity Markets
• Regulation
• Distributed Energy Resources
• Market Design
• Regulatory Roles

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1. Study Study Committee Committee Update Meeting Update Meeting Study Study Committee C5: Electricity Markets and Regulation Committee C5: Electricity Markets and Regulation Canadian Representative: Dr. Canadian Representative: Dr. Kankar Presented Presented by: Dr. Kankar Bhattacharya Bhattacharya by: Dr. Kankar Kankar Bhattacharya Bhattacharya 2020 Virtual Study Committee Update Meeting November 6

2. 2 SC C5: An Introduction Scope Analysis of the impacts on the planning and operation of electric power systems of different market approaches and solutions; and of new structures, institutions, actors and stakeholders. The role of competition and regulation in improving end-to-end efficiency of the electric power system. Current Activities Changes in regulatory roles. Role of markets in integrating DERs. Impact of emerging technologies on system operation. Market clearing procedures. Potential market rule changes. Main Areas of Attention Market structures, techniques and tools, regulation and legislation, evolution, coordination. The Cigre Technical Council has defined new directions for the activities of SC C5: PV and other embedded generation combined with storage. Development of inverters and management systems to allow two-ways markets and ancillary services. EVs as both load, storage, and mobile storage need be integrated. 2020 Virtual Study Committee Update Meeting November 6

3. Preferential Subjects 2020 PS1: The changing nature of markets and ancillary requirements Market adaptations to handle the value shift between energy and services; Markets and services to address inertia and resilience; Role of markets with respect to aggregation and the provision of network services; Pricing approaches for emerging technologies and impacts of those approaches PS2: Changing role of regulators and standards Role of regulators in the changing markets; Evolving policy, standards, and guidelines to address issues affecting markets; Regulatory policies on transmission and distribution; too little or too much? PS3: Market designs for coordination of generation and network investments Markets and regulations to promote coordinated investments; Customer-driven market changes the transition from centralized to distributed planning; Impacts of the changing nature of customers on investments and markets; The impact of peer-to-peer trading on the provision of market services 2020 Virtual Study Committee Update Meeting November 6 3

4. Preferential Subjects 2022 PS1: The evolution of market design and regulation to integrate distributed energy resources. Market design developments to facilitate the integration of new participants and renewable resources. The role of retail electricity markets in the promotion of behind the meter technologies. Innovative contracts/services between market participants and with customers/distributed energy resource owners. PS2: Changes to markets and regulation to enhance reliability and resilience. The lessons for markets and regulation from major system disturbances and social disruptions. Market designs for reliability and resilience in systems with high penetration of asynchronous and low inertia connected facilities. Markets to coordinate resources that are not responsive to demand or price. PS3: Working with innovation and disruption preparing for the future. Innovative approaches to markets and regulation to achieve energy policy targets and to include edge-of-grid activities. The design and structure of retail and wholesale electricity markets to support capital-intensive investments. Sector regulation and tariff design in the face of technological disruption, e.g. V2G, Hydrogen and new forms of storage. 2020 Virtual Study Committee Update Meeting November 6 4

5. Proposed New Working Groups Trading electricity with Blockchain systems Market penetration of energy storage systems Integration of EV in electricity markets Integration of hydrogen in electricity markets and sector regulation Compatibility of wholesale markets with microgrids Market design for a plurality of electricity products Exploring ways to realize large scale demand response 2020 Virtual Study Committee Update Meeting November 6 5

6. Active Working Groups Convenor Working Group Canadian Representtive C5-24: Exploring the market-Based Value of Smart Grid Developments Elizabeth LaRose (USA) - C5-26: Auction Markets for Demand Response Services Kankar Bhattacharya (CAN) Mohamed Ahmed (IESO) C5-27: Market Design for Short-Term Flexibility Gerard Doorman (NOR) C5.28: Energy price formation in wholesale markets Adam Keech (USA) Kankar Bhattacharya (UW) JWG C2/C5.05 Developments and changes in the business of system operators O. Gjerde (Norway) - JWG C5-C6-29 New Energy Markets, Local Energy Community Alain Taccoen (FRA) Anupama Konara C5.30: the Role of Blockchain Technologies in Power Markets David Bowker (AUS) Fazel Mohammadi (UWindsor), WG Secretary C5.31: Wholesale and Retail Electricity Cost Impact of Flexible Demand Response Angela Chuang (USA) Steven Wong (NRCAN) Anthony Giacomoni (USA) 2020 Virtual Study Committee Update Meeting November 6 C5.32: Carbon Pricing in Electricity Markets 6

7. Canadian Technical Activities Canadian members have been active in 5 current and 1 recently completed Working Groups. C5.25: Regulation & Market Design Perspectives Raised by New Storage Technologies Canadian Member: Kankar Bhattacharya WG Completed in 2019. Technical Brochure published in 2019. C5.26: Auction Markets and Other Procurement Mechanisms for Demand Response Services Convener: Kankar Bhattacharya Canadian Member: Mohamed Ahmed Technical Brochure and paper for Electra under preparation. C5.28: Energy Price Formation in Wholesale Markets Canadian Member: Kankar Bhattacharya Questionnaire responses completed, report in preparation. 2020 Virtual Study Committee Update Meeting November 6 7

8. Canadian Technical Activities contd. JWG C5-C6-29 New Energy Markets, Local Energy Community Canadian Member: Anupama Konara Questionnaire completed. C5.30: the Role of Blockchain Technologies in Power Markets Canadian Member: Fazel Mohammadi Completed, Final Report in review. C5.31: Wholesale and Retail Electricity Cost Impact of Flexible Demand Response Canadian Member: Steven Wong Work in progress. 2020 Virtual Study Committee Update Meeting November 6 8

9. Canadian Technical Activities contd. Kankar Bhattacharya Canadian National Committee Member (since 2014) Canadian Representative in Study Committee SC C5 (2014 - ) Attended ALL Study Committee Meetings, in person, since 2014. Paris (2014), Lund (2015), Paris (2016), Dublin (2017), Paris (2018), Montreal (2019), Paris (2020- eSession) Member, SC C5 Strategic Advisory Committee Convener, CIGRE Working Group C5.26 Special Reporter PS-1 CIGRE Session 2016, 2020, 2022 CIGRE Symposium, Dublin, Ireland, 2017 Convener, Poster Session, Paris 2016 and Paris 2018 CIGRE Canada Conferences, 2015-2020 Member, Conference Technical Program Committee Session Chair, 2020 Award Papers Judge, 2020 2020 Virtual Study Committee Update Meeting November 6 9

10. Canadian Contributions to CIGRE Publications (1) M. Ahmed and K. Bhattacharya, A Novel Demand Response Market Clearing Auction Model for Independent System Operators , CIGRE Session 2020, Paris (e-Session). CIGRE Technical Brochure 752, Working Group C5.25: D. Game (Convener), C. Pache (Secretary), K. Bhattacharya (contributing author) and several others, Regulation and Market Design Barriers Preventing to Capture All the Value from Fast and High- Location-Freedom Energy Storage , Jan 2019 (43 pages). H. Alharbi and K. Bhattacharya, Energy Storage and Ancillary Services Markets in North America , 2019 CIGRE Canada Conference, Montreal, September 2019. N. Padmanabhan, M. Ahmed and K. Bhattacharya, Demand Response Services in Electricity Markets of US and Canada , 2019 CIGRE Canada Conference, Montreal, September 2019 2020 Virtual Study Committee Update Meeting November 6 10

11. Canadian Contributions to CIGRE Publications (2) CIGRE Technical Brochure of WG C5.30: David Bowker (Convenor), F. Mohammadi (Secretary- Canada) and several others, The Role of Blockchain Technologies in Power Markets , Submitted for Publication, October 2020. CIGRE Technical Brochure of WG C5.26: K. Bhattacharya (Convener- Canada), M. Ahmed (Secretary- Canada), Auction Markets and Other Procurement Mechanisms for Demand Response Services , Final draft completed, to be sent for review and publication soon. CIGRE Technical Brochure of WG C5.25: D. Game (Convener), K. Bhattacharya (contributing author- Canada) and several others, Regulation and Market Design Barriers Preventing to Capture All the Value from Fast and High-Location-Freedom Energy Storage , Reference 752, CIGRE Publications, Jan 2019 (43 pages). 2020 Virtual Study Committee Update Meeting November 6 11

12. SC C5 Published Reports (since 2017) TB808 Short-term Flexibility in Power Systems: Drivers and Solutions, 2020. TB803 Exploring the Market Value of Smart Grids and Interactions With Wholesale (TSO) and Distribution (DSO) Markets, 2020. TB759 Mitigating Systemic Market Risk in Electricity Markets, 2019. TB753 Wholesale Market Price Caps, 2019. TB752 Regulation and Market Design Barriers Preventing to Capture All the Value from Fast and High-Location-Freedom Energy Storage , 2019. Co-author: Kankar Bhattacharya TB747 Costs of Electric Service, Allocation Methods, and Residential Rate Trends, 2018 TB710: Impacts of Environmental Policy on Power Markets, 2017 TB709: Drivers for Major Changes to Market Design, 2017 TB692: Market Price Signals and Regulatory Frameworks for Coordination of Transmission Investments, 2017 TB688: Development of Reliability Standards and Market Rules, 2017 2020 Virtual Study Committee Update Meeting November 6 12

13. Canadian Highlights CIGRE Technical Council Award 2018 Kankar Bhattacharya, Canadian Representative to SC C5 received the CIGRE Technical Council Award 2018 at CIGRE Session, Paris, August 2018. 2020 Virtual Study Committee Update Meeting November 6 13

14. Canadian Representative Name: Company: University of Waterloo Title: Professor and Associate Chair Graduate Studies Department of Electrical & Computer Engineering Email: Kankar@uwaterloo.ca Phone: (519) 888 4567 Extn.37064 Dr. Kankar Bhattacharya 2020 Virtual Study Committee Update Meeting November 6 14