Related papers: Frequency-driven market mechanisms for optimal dis…
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…
This paper studies an electricity market consisting of an independent system operator (ISO) and a group of generators. The goal is to solve the DC optimal power flow (DC-OPF) problem: have the generators collectively meet the power demand…
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…
This paper presents an optimal scheduling model for a microgrid participating in the electricity distribution market in interaction with the Distribution Market Operator (DMO). The DMO is a concept proposed here, which administers the…
A real-time optimal dispatch method for unbundle electricity markets is proposed in this paper. With this method, pool energy auction market, ancillary services market, and bilateral contract market can be coordinated by the ISO through a…
Frequency dynamics in power systems reflect active power imbalance in real time, thereby providing an instantaneous signal to inform electricity pricing. However, existing real-time markets operate on much slower timescales and fail to…
An optimal scheduling model for a microgrid participating in the electricity distribution market in interaction with a Distribution Market Operator (DMO) is proposed in this paper. The DMO administers the established electricity market in…
This paper focuses on the operation of an electricity market that accounts for participants that bid at a sub-minute timescale. To that end, we model the market-clearing process as a dynamical system, called market dynamics, which is…
This paper investigates the problem of optimal frequency regulation of multi-machine power networks where each synchronous machine is described by a sixth order model. By analyzing the physical energy stored in the network and the…
Battery participants in performance-based frequency regulation markets must consider the cost of battery aging in their operating strategies to maximize market profits. In this paper we solve this problem by proposing an optimal control…
We examine market outcomes in energy transport networks with a focus on gas-fired generators, which are producers in a wholesale electricity market and consumers in the natural gas market. Market administrators monitor bids to determine…
We consider a smart-grid connecting several agents, modeled as stochastic dynamical systems, who may be electricity consumers/producers. At each discrete time instant, which may represent a 15 minute interval, each agent may…
One of the recognized principal issues brought along by the steadfast migration towards power electronic interfaced energy sources is the loss of rotational inertia. In conventional power systems, the inertia of the synchronous machines…
Zonal pricing is a well-suited mechanism to incentivize grid-supporting behavior of profit-maximizing producers and consumers operating on a large-scale power system. In zonal electricity markets, local system operators create individual…
Load side participation can provide support to the power network by appropriately adapting the demand when required. In addition, it enables an economically improved power allocation. In this study, we consider the problem of providing an…
We consider a market in which capacity-constrained generators compete in scalar-parameterized supply functions to serve an inelastic demand spread throughout a transmission constrained power network. The market clears according to a…
The global ambitions of a carbon-neutral society necessitate a stable and robust smart grid that capitalises on frequency reserves of renewable energy. Frequency reserves are resources that adjust power production or consumption in real…
In order to deal with issues caused by the increasing penetration of renewable resources in power systems, this paper proposes a novel distributed frequency control algorithm for each generating unit and controllable load in a transmission…
The Regional Transmission Operators each have unique methods to procure frequency regulation reserves used to track real power fluctuations on the grid. Some market clearing practices result in high regulation prices with large spread…
Electricity markets differ in their ability to meet power imbalances in short notice in a controlled fashion. Relatively flexible markets have the ability to ramp up (or down) power flows across interties without compromising their ability…