strongly in the last few years. Many projects have been
deployed as well in an attempt to push customers and loads
to participate more in the power system. One of the most
ambitious projects in that area is the EU FP7 project
named EcoGrid EU. In this project, it is attempted to use
close to real time market prices in order to provide
additional balancing resources from flexible consumption.
This paper presents the work developed in that project
regarding price elasticity and availability of process loads
with internal relations and saturation restrictions. An
industrial compressed air system, equipped with a
compressed air storage unit and an electrical water heater
are used as examples of flexible loads. The paper discusses
how the volatility in the real time price and the quality of
the price forecast consequently affects the energy costs and
efficiency of this group of flexible consumer loads.
Simulation results, which show the benefits of such system
and possible threats to those benefits, are presented.