Abstract: The power flexibility of energy loads are maximized using a value function for each load and outputting optimal control parameters per load. These loads are aggregated into a virtual load by maximizing a global value function that includes the value function for each individual load. The solution yields a dispatch function providing: a percentage of energy to be assigned to each individual load, a possible time-varying power level within a time interval for each load, and control parameters and values. An economic term of the global value function represents the value of the power flexibility to different energy players. A user interface includes for each time interval upper and lower bounds representing respectively the maximum power that may be reduced to the virtual load and the maximum power that may be consumed by the virtual load. An energy trader modifies an energy level in a time interval relative to the reference curve for the virtual load.

Abstract: The power flexibility of energy loads are maximized using a value function for each load and outputting optimal control parameters per load. These loads are aggregated into a virtual load by maximizing a global value function that includes the value function for each individual load. The solution yields a dispatch function providing: a percentage of energy to be assigned to each individual load, a possible time-varying power level within a time interval for each load, and control parameters and values. An economic term of the global value function represents the value of the power flexibility to different energy players. A user interface includes for each time interval upper and lower bounds representing respectively the maximum power that may be reduced to the virtual load and the maximum power that may be consumed by the virtual load. An energy trader modifies an energy level in a time interval relative to the reference curve for the virtual load.