Related papers: An Incentive-Compatible Scheme for Electricity Coo…
The increasing interest in demand-side management (DSM) as part of the energy cost optimization calls for effective methods to determine representative electricity prices for energy optimization and scheduling investigations. We propose a…
A coordinated trading process is proposed as a design for an electricity market with significant uncertainty, perhaps from renewables. In this process, groups of agents propose to the system operator (SO) a contingent buy and sell trade…
Peer-to-peer (P2P) energy trading and energy communities have garnered much attention over in recent years due to increasing investments in local energy generation and storage assets. However, the efficiency to be gained from P2P trading,…
With the increasing penetration of electric vehicles (EVs) into the automotive market, the electricity peak demand would increase significantly due to home-EV-charging. This paper tackles this problem by defining an 'ideal' EV consumption…
Incentivizing flexible consumption of end-users is key to maximizing the value of local exchanges within Renewable Energy Communities. If centralized coordination for flexible resources planning raises concerns regarding data privacy and…
The problem of dynamic pricing of electricity in a retail market is considered. A Stackelberg game is used to model interactions between a retailer and its customers; the retailer sets the day-ahead hourly price of electricity and consumers…
This paper presents a new dynamic pricing model (a.k.a. real-time pricing) that reflects startup costs of generators. Dynamic pricing, which is a method to control demand by pricing electricity at hourly (or more often) intervals, has been…
To enable an efficient electricity market, a good pricing scheme is of vital importance. Among many practical schemes, customized pricing is commonly believed to be able to best exploit the flexibility in the demand side. However, due to…
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…
In an electric power system, demand fluctuations may result in significant ancillary cost to suppliers. Furthermore, in the near future, deep penetration of volatile renewable electricity generation is expected to exacerbate the variability…
Achieving a successful energetic transition through a smarter and greener electricity grid is a major goal for the 21st century. It is assumed that such smart grids will be characterized by bidirectional electricity flows coupled with the…
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.…
In this study, a cooperative game model is presented to schedule the day-ahead operation of multi-microgrid (MMG) systems. In the proposed model, microgrids are scheduled to achieve a global optimum for the cost of the multi-microgrid…
Electrification is contributing to substantial growth in U.S. commercial and industrial loads, but the cost and Scope 2 carbon emission implications of this load growth are opaque for both power consumers and utilities. This work describes…
This paper studies social cooperation backed peer-to-peer energy trading technique by which prosumers can decide how they can use their batteries opportunistically for participating in the peer-to-peer trading. The objective is to achieve a…
The liberalization of electricity markets and the development of renewable energy sources has led to new challenges for decision makers. These challenges are accompanied by an increasing uncertainty about future electricity price movements.…
Utilities use demand response to shift or reduce electricity usage of flexible loads, to better match electricity demand to power generation. A common mechanism is peak pricing (PP), where consumers pay reduced (increased) prices for…
This paper proposes an incentive-based aggregator for electric vehicles (EVs) in workplace parking lots to participate in the energy and regulation markets. With the implementation of seasonal Autoregressive Integrated Moving Average…
The deployment of distributed energy resources, combined with a more proactive demand side, is inducing a new paradigm in power system operation and electricity markets. Within a consumer-centric market framework, peer-to-peer approaches…
This paper presents a dynamic pricing and energy management framework for electric vehicle (EV) charging service providers. To set the charging prices, the service providers faces three uncertainties: the volatility of wholesale electricity…