Related papers: Market-based vs. Price-based Microgrid Optimal Sch…
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…
As energy markets begin clearing at sub-hourly rates, their interaction with load control systems becomes a potentially important consideration. A simple model for the control of thermal systems using market-based power distribution…
We investigate a hierarchically organized cloud infrastructure and compare distributed hierarchical control based on resource monitoring with market mechanisms for resource management. The latter do not require a model of the system, incur…
The design of energy markets is a subject of ongoing debate, particularly concerning the choice between the widely adopted Pay-as-Clear (PC) pricing mechanism and the alternative Pay-as-Bid (PB). These mechanisms determine how energy…
We discuss potential market mechanisms for the GRID. A complete dynamical model of a GRID market is defined with three types of agents. Providers, middlemen and users exchange universal GRID computing units (GCUs) at varying prices.…
Traffic management by applying congestion pricing is a measure for mitigating congestion in protected city corridors. As a promising tool, pricing improves the level of service in a network and reduces travel delays. However, real-world…
The ambitious CO2 emission targets of the Paris agreements are achievable only with renewable energy, CO2-free power generation, new policies, and planning. The main motivation of this paper is that future green fuels from power-to-X assets…
In this paper, we consider a realistic and meaningful scenario in the context of smart grids where an electricity retailer serves three different types of customers, i.e., customers with an optimal home energy management system embedded in…
In order to address the economical dispatch problem in islanded microgrid, this letter proposes an optimal criterion and two decentralized economical-sharing schemes. The criterion is to judge whether global optimal economical-sharing can…
We propose an operating envelopes (OEs) aware energy community market mechanism that dynamically charges/rewards its members based on two-part pricing. The OEs are imposed exogenously by a regulated distribution system operator (DSO) on the…
The rapid deployment of distributed energy resources (DERs) is one of the essential efforts to mitigate global climate change. However, a vast number of small-scale DERs are difficult to manage individually, motivating the introduction of…
Convergence (virtual) bidding is an important part of two-settlement electric power markets as it can effectively reduce discrepancies between the day-ahead and real-time markets. Consequently, there is extensive research into the bidding…
The rising share of volatile renewable generation increases the demand for flexibility in the electricity grid. Flexible capacity can be offered by industrial energy systems through participation on either the continuous intraday,…
This paper considers a real-time electricity market involving an independent system operator (ISO) and a group of strategic generators. The ISO operates a market where generators bid prices at which there are willing to provide power. The…
The global race to artificial intelligence competitive advantage is challenging electricity grids by demanding growing data center capacity. Addressing this challenge requires synergistic operational strategies that integrate data centers…
In this paper, we address a key issue of designing architectures and algorithms which generate optimal demand response in a decentralized manner for a smart-grid consisting of several stochastic renewables and dynamic loads. By optimal…
Minimizing the peak power consumption and matching demand to supply, under fixed threshold polices, are two key requirements for the success of the future electricity market. In this work, we consider dynamic pricing methods to minimize the…
Distributed energy resource aggregators (DERAs) must share the distribution network together with the distribution utility in order to participate in the wholesale electricity markets that are operated by independent system operators…
This paper investigates the fee scheduling problem of electric vehicles (EVs) at the micro-grid scale. This problem contains a set of charging stations controlled by a central aggregator. One of the main stakeholders is the operator of the…
This review presents the set of electricity price models proposed in the literature since the opening of power markets. We focus on price models applied to financial pricing and risk management. We classify these models according to their…