Related papers: Implementing a Unit Commitment Power Market Model …
Electricity storage is used for intertemporal price arbitrage and for ancillary services that balance unforeseen supply and demand fluctuations via frequency regulation. We present an optimization model that computes bids for both arbitrage…
This paper proposes a generic and unified model of the power flow (PF) problem for multiterminal hybrid AC/DC networks. The proposed model is an extension of the standard AC-PF. The DC network is treated as an AC one and, in addition to the…
Microsoft Excel is the most ubiquitous analytical tool ever built. Companies around the world leverage it for its power, flexibility and ease of use. However, spreadsheets are manually intensive and prone to error, making it difficult for…
The rapid adoption of AI has led the growth of computational demand, with large language models (LLMs) at the forefront since ChatGPT's debut in 2022. Meanwhile, large amounts of renewable energy have been deployed but, ultimately,…
We propose a novel computational method for unit commitment UC, which does not require linearized approximation and provides several orders of magnitude performance improvement over current state-of-the-art. The performance improvement is…
We consider a utility maximization problem in a broad class of markets. Apart from traditional semimartingale markets, our class of markets includes processes with long memory, fractional Brownian motion and related processes, and, in…
This paper presents an open source stochastic unit commitment (UC) optimization tool, which is available on GitHub. In addition, it presents an example use case in which UC optimization is done for a waste-to-energy plant with heat storage…
This paper proposes an electronic circuit simulator-based method to accelerate the power system transient simulation, where the modeling of a generic HVDC (High Voltage Direct Current) system is focused. The electronic circuit simulation…
Estimating power consumption in modern Cloud environments is essential for carbon quantification toward green computing. Specifically, it is important to properly account for the power consumed by each of the running applications, which are…
This paper focuses on multirate time-domain simulations of power system models. It proposes a matrix pencil-based approach to evaluate the spurious numerical deformation introduced into power system dynamics by a given multirate integration…
We propose and investigate two model classes for forward power price dynamics, based on continuous branching processes with immigration, and on Hawkes processes with exponential kernel, respectively. The models proposed exhibit jumps…
In this article we propose a multi-zonal integrated energy-reserve market model. We assume that bidders may submit their demand and supply bids on the one hand in the form of conventional hourly step bids and block bids, which are cleared…
Due to the penetration of renewable energy resources and load deviation, uncertainty handling is one of the main challenges for power system; therefore the need for accurate decision-making in a power system under the penetration of…
Coordinating the interactions between flexibility assets in multi-carrier integrated energy systems (MIES) can lead to an efficient integration of variable renewable energy resources, and a cost-efficient energy transition. However, the…
We propose a unified methodology to input non-linear views from any number of users in fully general non-normal markets, and perform, among others, stress-testing, scenario analysis, and ranking allocation. We walk the reader through the…
The deepening penetration of renewable energy is challenging how power system operators cope with the associated variability and uncertainty in the unit commitment problem. Given its computational complexity, several optimization-based…
Coordinating the operation of units at the interface between heat and electricity systems, such as combined heat and power plants and heat pumps, is essential to reduce inefficiencies in each system and help achieve a cost-effective and…
We propose an enhancement to wholesale electricity markets whereby the exposure of consumers to increasingly large and volatile consumer payments arising as a byproduct of volatile real-time net loads -- i.e., loads minus renewable outputs…
The increasing integration of renewable energy sources has introduced complex dynamic behavior in power systems that challenge the adequacy of traditional continuous-time modeling approaches. These developments call for modeling frameworks…
This paper examines the performance trade-offs between an introduced linear flexibility market model for congestion management and a benchmark second-order cone programming (SOCP) formulation. The linear market model incorporates voltage…