Transactive Energy: Implementing the Future of the Electric System
May 23-24, 2013, World Trade Center, Portland, Oregon
Richland, Wash., and Portland, Ore. – Pacific Northwest smart grid leaders feel so strongly about the potential of transactive energy management to help the electric grid they have convened the first ever council and workshop to discuss the future of the concept. The GridWise® Architecture Council, with support from the Department of Energy’s Pacific Northwest National Laboratory, the Bonneville Power Administration, Smart Grid Northwest, Portland General Electric, and others, is pleased to announce the First International Conference and Workshop on Transactive energy to be held in Portland, Oregon, on May 23-24, 2013. Information about the workshop is available at www.gridwiseac.org and smartgridnw.org.
The goal of the conference and workshop is to bring together practitioners and researchers that have been involved in research, development of and deploying transactive energy techniques and business models. This forum is intended to facilitate accelerated development of transactive energy to enable scalable adoption of intermittent and distributed resources envisioned in grid modernization worldwide. The conference is part of the continuing work of the GridWise® Architecture Council to create a “Transactive Energy Framework” document as a tool for the industry. The meeting will include plenary sessions and breakout workshops covering a range of business, policy, architectural and technical topics related to the envisioned framework document. Related applications of transactive energy in building energy management and in the overall facilities to grid interface will also be included in the workshop discussions.
A number of research and development efforts related to transactive energy architecture, market designs, systems, services, pricing and standards are underway by universities, national labs, utilities and technology firms around the world. The term “transactive energy” refers to techniques for managing the generation, consumption or flow of electric power within an electric power system through the use of economic or market based constructs while considering grid reliability constraints. The term “transactive” comes from considering that decisions are made based on a value and these decisions may be analogous to — or literally — economic transactions.
From theory to practice
Traditionally, power system operations have been centrally managed with a focus on maintaining adequate capacity, power and reliability through bulk power markets and wholesale generation and transmission-centralized operations. Distribution and retail operations have generally been based on a one-way supply model with little or no operational or market-based mechanisms for adjusting the demand side of the system. This structure is inadequate for future high penetrations of intermittent renewable and distributed energy resources (DER) integrated conventionally or through micro-grids. Distributed and hierarchical controls, services and pricing methods spanning bulk power and distribution system operations, retail markets with coordinated reliability and economic objectives, are needed to enable the 21st century power system.
About the GridWise® Architecture Council
The GridWise Architecture Council was convened in 2004 by the Department of Energy with support from the Pacific Northwest National Laboratory. As a volunteer council, the GWAC includes practitioners and leaders with broad-based knowledge and expertise in power, information technology, telecommunications, financial systems and other fields who are working together toward a coordinated GridWise vision—the transformation of the nation’s energy system into a rich, collaborative network filled with decision-making information exchange and market-based opportunities.
About Smart Grid Northwest
Smart Grid Northwest is a trade association that enables and promotes the smart grid industry and infrastructure in Oregon and the Pacific Northwest. The Association works with stakeholders to craft and advocate for effective public policies that promote and grow the region’s smart grid industry and infrastructure. Through informational events, conferences, participation in regulatory and legislative deliberations and other forums, Smart Grid Northwest will be a catalyst for smart grid entrepreneurs and leaders to meet, interact, compare notes, and work together to grow and promote the industry in Oregon and the Pacific Northwest. Smart Grid Northwest is the first organization in the nation focusing on smart grid at the state level.