Related papers: Iterative Mechanisms for Electricity Markets
Integration of Inverter Based Resources (IBRs) which lack the intrinsic characteristics such as the inertial response of the traditional synchronous-generator (SG) based sources presents a new challenge in the form of analyzing the grid…
Future electricity distribution grids will host a considerable share of variable renewable energy sources and local storage resources. Moreover, they will face new load structures due for example to the growth of the electric vehicle…
Electricity markets are transforming from the dominance of conventional energy resources (CERs), e.g., fossil fuels, to low-carbon energy resources (LERs), e.g., renewables and energy storage. This work examines market mechanisms to…
Renewable energy technologies including solar and wind inevitably play a leading role in meeting the growing demand for a decarbonized and clean power grid. However, these technologies are highly dependent of meteorological conditions of…
Modern power grids need to cope with increasingly decentralized, volatile energy sources as well as new business models such as virtual power plants constituted from battery swarms. This warrants both, day-ahead planning of larger schedules…
Resource distribution is a fundamental problem in economic and policy design, particularly when demand and supply are not naturally aligned. Without regulation, wealthier individuals may monopolize this resource, leaving the needs of others…
There is a growing interest in the integration of energy infrastructures to increase systems' flexibility and reduce operational costs. The most studied case is the synergy between electric and heating networks. Even though integrated heat…
As the penetration of distributed energy resources (DERs) increases, harnessing their flexibility becomes critical for power system operations. Virtual power plants (VPPs) offer a promising solution. However, most existing scheduling tools…
Accurate prediction of electricity prices plays an essential role in the electricity market. To reflect the uncertainty of electricity prices, price intervals are predicted. This paper proposes a novel prediction interval construction…
In this work we consider battery powered portable systems which either have Field Programmable Gate Arrays (FPGA) or voltage and frequency scalable processors as their main processing element. An application is modeled in the form of a…
For a simple model of price-responsive demand, we consider a deregulated electricity marketplace wherein the grid (ISO, retailer-distributor) accepts bids per-unit supply from generators (simplified herein neither to consider…
Transactive or market-based coordination strategies have recently been proposed for controlling the aggregate demand of a large number of electric loads. Such schemes offer operational benefits such as enforcing distribution feeder capacity…
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…
In auction and matching markets, estimating the welfare effects of demand-side treatments is challenging because of spillovers through the mechanism. We develop a quasi-experimental approach that avoids parametric assumptions typically…
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…
We review the evidence that the erratic dynamics of markets is to a large extent of endogenous origin, i.e. determined by the trading activity itself and not due to the rational processing of exogenous news. In order to understand why and…
An important limitation of Inverter-Based Resources (IBR) is their reduced contribution to Short-Circuit Current (SCC), as compared to that of Synchronous Generators (SGs). With increasing penetration of IBR in most power systems, the…
Linearized models of power systems are often desirable to formulate tractable control and optimization problems that still reflect real-world physics adequately under various operating conditions. In this paper, we propose an approach that…
Two-stage electricity market clearing is designed to maintain market efficiency under ideal conditions, e.g., perfect forecast and nonstrategic generation. This work demonstrates that the individual strategic behavior of inelastic load…
Maintaining system balance becomes increasingly challenging as market design and grid capacity enhancement lag behind the growing share of renewables, requiring greater effort from both the transmission system operator (TSO) and the Balance…