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This study presents a Bayesian Optimization framework for area- and distance-based time-of-day pricing (TODP) for urban networks. The road pricing optimization problem can reach high level of complexity depending on the pricing scheme…
In this article, a multiple split method is proposed that enables construction of multidimensional probabilistic forecasts of a selected set of variables. The method uses repeated resampling to estimate uncertainty of simultaneous…
As consumer flexibility becomes expected, it is important that the market mechanisms which attain that flexibility are perceived as fair. We set out fairness issues in energy markets today, and propose a market design to address them.…
Collusion and capacity withholding in electricity wholesale markets are important mechanisms of market manipulation. This study applies a refined machine learning-based cartel detection algorithm to two cartel cases in the Italian…
There are various undergoing efforts by system operators to set up an electricity market at the distribution level to enable a rapid and widespread deployment of distributed energy resources (DERs) and microgrids. This paper follows the…
Having a better understanding of how locational marginal prices (LMPs) change helps in price forecasting and market strategy making. This paper investigates the fundamental distribution of the congestion part of LMPs in high-dimensional…
In the governance of the shared mobility market of a city or of a metropolitan area, there are two conflicting principles: 1) the healthy competition between multiple platforms, such as between Uber and Lyft in the United States, and 2)…
Community structure exists in many real-world networks and has been reported being related to several functional properties of the networks. The conventional approach was partitioning nodes into communities, while some recent studies start…
This two-part paper develops a paradigmatic theory and detailed methods of the joint electricity market design using reinforcement-learning (RL)-based simulation. In Part 2, this theory is further demonstrated by elaborating detailed…
Nothing has done more to empower the free market, enterprise, and meritocracy than the spread of electricity and power to everyone. The power system has been the precursor to the greatest period of innovation in our history and has meant…
This paper develops a machine learning-driven portfolio optimization framework for virtual bidding in electricity markets considering both risk constraint and price sensitivity. The algorithmic trading strategy is developed from the…
Power distribution networks, especially in North America, are often unbalanced but are designed to keep unbalance levels within the limits specified by IEEE, IEC, and NEMA standards. However, rapid integration of unbalanced devices, such as…
In this paper, we address an optimal management problem of community energy storage in the real-time electricity market under a stochastic renewable environment. In a real-time electricity market, complete market information may not be…
With invaluable theoretical and practical benefits, the problem of partitioning networks for community structures has attracted significant research attention in scientific and engineering disciplines. In literature, Newman's modularity…
In smart grid, a home appliance can adjust its power consumption level according to the realtime power price obtained from communication channels. Most studies on smart grid do not consider the cost of communications which cannot be ignored…
Pricing multi-interval economic dispatch of electric power under operational uncertainty is considered in this two-part paper. Part I investigates dispatch-following incentives of profit-maximizing generators and shows that, under mild…
Local electricity markets offer a promising solution for integrating renewable energy sources and other distributed energy resources (DERs) into distribution networks. These markets enable the effective utilization of flexible resources by…
This paper proposes an optimization strategy to assist utility operators to recover power distribution systems after large outages. Specifically, a mixed-integer linear programming (MILP) model is developed for co-optimizing crews,…
We study large markets with a single seller which can produce many types of goods, and many multi-minded buyers. The seller chooses posted prices for its many items, and the buyers purchase bundles to maximize their utility. For this…
We study social welfare in one-sided matching markets where the goal is to efficiently allocate n items to n agents that each have a complete, private preference list and a unit demand over the items. Our focus is on allocation mechanisms…