Related papers: Dynamic Market Mechanisms for Wind Energy

We consider an infinite horizon dynamic mechanism design problem with interdependent valuations. In this setting the type of each agent is assumed to be evolving according to a first order Markov process and is independent of the types of…

Airborne wind energy systems aim to harvest the power of winds blowing at altitudes higher than what conventional wind turbines reach. They employ a tethered flying structure, usually a wing, and exploit the aerodynamic lift to produce…

Power supply from renewable resources is on a global rise where it is forecasted that renewable generation will surpass other types of generation in a foreseeable future. Increased generation from renewable resources, mainly solar and wind,…

This paper proposes online algorithms for dynamic matching markets in power distribution systems, which at any real-time operation instance decides about matching -- or delaying the supply of -- flexible loads with available renewable…

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…

Over the last few decades, electricity markets around the world have adopted multi-settlement structures, allowing for balancing of supply and demand as more accurate forecast information becomes available. Given increasing uncertainty due…

We consider a seller who offers services to a buyer with multi-unit demand. Prior to the realization of demand, the buyer receives a noisy signal of their future demand, and the seller can design contracts based on the reported value of…

A wind turbine works with the principle of extracting energy from the wind to generate electricity. The power generated is directly proportional to the wind speed available. There are two major types of wind turbine design namely the…

With the rising extension of renewable energies, the intraday electricity markets have recorded a growing popularity amongst traders as well as electric utilities to cope with the induced volatility of the energy supply. Through their short…

Lately, the problem of designing multi-stage dynamic mechanisms has been shown to be both theoretically challenging and practically important. In this paper, we consider the problem of designing revenue optimal dynamic mechanism for a…

The electricity industry has been one of the first to face technological changes motivated by sustainability concerns. Whilst efficiency aspects of market design have tended to focus upon market power concerns, the new policy challenges…

Wind turbine (WT) controllers are often geared towards maximum power extraction, while suitable operating constraints should be guaranteed such that WT components are protected from failures. Control strategies can be also devised to reduce…

Should the organization, design and functioning of electricity markets be taken for granted? Definitely not. While decades of evolution of electricity markets in countries that committed early to restructure their electric power sector made…

Wind power forecasting is essential to power system operation and electricity markets. As abundant data became available thanks to the deployment of measurement infrastructures and the democratization of meteorological modelling, extensive…

In recent years extensive research has been conducted on the development of different models that enable energy trading between prosumers and consumers due to expected high integration of distributed energy resources. Some of the most…

This paper provides insight on the economic inefficiency of the classical merit-order dispatch in electricity markets with uncertain supply. For this, we consider a power system whose operation is driven by a two-stage electricity market,…

In electricity markets with a dual-pricing scheme for balancing energy, controllable production units typically participate in the balancing market as "active" actors by offering regulating energy to the system, while renewable stochastic…

Renewable energy sources, such as wind and solar power, are increasingly being integrated into smart grid systems. However, when compared to traditional energy resources, the unpredictability of renewable energy generation poses significant…

Dynamic wind farm control is a new strategy that aims to apply time-varying, often periodic, control signals on upstream wind turbines to increase the wake mixing behind the turbine. As a result, wake recovery is accelerated, leading to a…

Market-based coordination of demand side assets has gained great interests in recent years. In spite of its efficiency, there is a risk that the interaction between the dynamic assets through the price signal could result in an unstable…