Simulation of real time electricity price based Energy Management System

The aim of the case study was to determine profitability of Energy Management System (EMS) in the intraday market like Elbas (Nord Pool Spot). To optimize the operation of EMS, a Demand Response (DR) algorithm was used for the calculation of a battery bank charge-discharge schedule (BCDS) taking into account the volatility in the Real-Time price (RTP). The profits are gained from importing and storing more energy at low price periods while decreasing the imported power from the grid at high price periods and dispatching the stored energy for load demands. The forecast procedure analyzes the history of the energy price for a predefined back-time period and optimizes the BCDS to bring the highest profit to the end customer. The results are composed from typical parameters of a household's energy demand applied in EMS. The results obtained were compared with those from laboratory obtained by the Day-Ahead price based control algorithm. In the tests, an one-hour price is taken as real-time price.