Related papers: Mechanism Designs for Stochastic Resources for Ren…
Although the specific structures of electricity markets are diverse around the world, they were all conceived on the premise of predictable, controllable generation with nonnegligible marginal costs. Recent changes, specifically, the…
Power systems are shifted from conventional bulk generation toward renewable generation. This trend leads to the frequency security problem due to the decline of system inertia. On the other hand, natural gas-fired units are frequently…
Energy cooperatives (ECs) such as residential and industrial microgrids have the potential to mitigate increasing fluctuations in renewable electricity generation, but only if their joint response is coordinated. However, the coordination…
To enable power supply in rural areas and to exploit clean energy, fully renewable power systems consisting of cascaded run-of-the-river hydropower and volatile energies such as pv and wind are built around the world. In islanded operation…
Many important problems in multiagent systems involve resource allocations. Self-interested agents may lie about their valuations if doing so increases their own utilities. Therefore, it is necessary to design mechanisms (collective…
Hydrogen is produced from water using renewable electricity. Unlike electricity, hydrogen can be stored in large quantities for long periods. This storage ability acts as a green battery, allowing solar and wind energy to be generated and…
The increase in renewable energy on the consumer side gives place to new dynamics in the energy grids. Participants in a microgrid can produce energy and trade it with their peers (peer-to-peer) with the permission of the energy provider.…
This paper presents a real time control strategy for dynamically balancing electric demand and supply at local level, in a scenario characterized by a HV/MV substation with the presence of renewable energy sources in the form of…
The growing integration of distributed energy resources (DERs) into the power grid necessitates an effective coordination strategy to maximize their benefits. Acting as an aggregator of DERs, a virtual power plant (VPP) facilitates this…
To achieve ambitious greenhouse gas emission reduction targets in time, the planning of future energy systems needs to accommodate societal preferences, e.g. low levels of acceptance for transmission expansion or onshore wind turbines, and…
Distribution systems are undergoing a dramatic transition from a passive circuit that routinely disseminates electric power among downstream nodes to the system with distributed energy resources. The distributed energy resources come in a…
In electrical distribution grids, the constantly increasing number of power generation devices based on renewables demands a transition from a centralized to a distributed generation paradigm. In fact, power injection from Distributed…
The rapid increase in scale and sophistication of offshore wind (OSW) farms poses a critical challenge related to the cost-effective operation and management of wind energy assets. A defining characteristic of this challenge is the economic…
Demand response provides utilities with a mechanism to share with end users the stochasticity resulting from the use of renewable sources. Pricing is accordingly used to reflect energy availability, to allocate such a limited resource to…
Facing the dilemma of growing energy demand and mitigating carbon emissions, this paper proposes an energy sharing mechanism based on virtual federated prosumers (VFPs) with budget allocation for joint electricity and carbon market to…
We present a practical, market-based solution to the resource provisioning problem in a set of heterogeneous resource clusters. We focus on provisioning rather than immediate scheduling decisions to allow users to change long-term job…
The implementation of electricity markets based on locational marginal pricing in a multi-settlement process has allowed wholesale competition, with pricing mechanisms that incentivize the optimal allocation of generation, transmission, and…
This paper addresses the energy dispatch of a virtual power plant comprising renewable generation, energy storage, and thermal units under uncertainty in renewable output, energy prices, and energy demand. The nonlinear dynamics and…
When the traded energy and reserve products between zones are co-allocated to optimize the infrastructure usage, both deterministic and stochastic flows have to be accounted for on interconnector lines. We focus on allocation models, which…
The modelling of modern power markets requires the representation of the following main features: (i) a stochastic dynamic decision process, with uncertainties related to renewable production and fuel costs, among others; and (ii) a…