Related papers: Frequency-driven market mechanisms for optimal dis…
Small operators who take part in secondary wireless spectrum markets typically have strict budget limits. In this paper, we study the bidding problem of a budget constrained operator in repeated secondary spectrum auctions. In existing…
Primary Frequency Control (PFC) is a fast acting mechanism used to ensure high-quality power for the grid that is becoming an increasingly attractive option for load participation. Due to speed requirement and other considerations, it is…
This paper investigates the efficiency loss in social cost caused by strategic bidding behavior of individual participants in a supply-demand balancing market, and proposes a mechanism to fully recover equilibrium social optimum via…
Smart grid is an emerging technology which is able to control the power load via price signaling. The communication between the power supplier and power customers is a key issue in smart grid. Performance degradation like delay or outage…
The increasing penetration of distributed energy resources (DERs) in the distribution networks has turned the conventionally passive load buses into active buses that can provide grid services for the transmission system. To take advantage…
High Frequency Trading (HFT) represents an ever growing proportion of all financial transactions as most markets have now switched to electronic order book systems. The main goal of the paper is to propose continuous time equations which…
Coordination of distributed energy resources is critical for electricity grid management. Although nodal pricing schemes can mitigate congestion and voltage deviations, the resulting prices are not necessarily equitable. In this work, we…
The global trend of energy deregulation has led to the market mechanism replacing some functionality of load frequency control (LFC). Accordingly, information exchange among participating generators and the market operator plays a crucial…
This article presents an exciting finding for the power industry: the parameters of secondary frequency control based on integral or proportional integral control can be tuned to achieve economic operation and frequency regulation…
Power systems are subject to fundamental changes due to the increasing infeed of decentralised renewable energy sources and storage. The decentralised nature of the new actors in the system requires new concepts for structuring the power…
Effective frequency control in power grids has become increasingly important with the increasing demand for renewable energy sources. Here, we propose a novel strategy for resolving this challenge using graph convolutional proximal policy…
In this paper, we study the problem of consensus-based distributed Nash equilibrium (NE) seeking where a network of players, abstracted as a directed graph, aim to minimize their own local cost functions non-cooperatively. Considering the…
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 this paper, a framework is proposed to coordinate the operation of the independent system operator (ISO) and distribution system operator (DSO) to leverage the wholesale market participation of distributed energy resources (DERs)…
We develop a tractable equilibrium model for price formation in intraday electricity markets in the presence of intermittent renewable generation. Using stochastic control theory, we identify the optimal strategies of agents with market…
Consider a trade market with one seller and multiple buyers. The seller aims to sell an indivisible item and maximize their revenue. This paper focuses on a simple and popular mechanism--the fixed-price mechanism. Unlike the standard…
Condition-based and predictive maintenance enable early detection of critical system conditions and thereby enable decision makers to forestall faults and mitigate them. However, decision makers also need to take the operational and…
The expected increase in the penetration of renewables in the approaching decade urges the electricity market to introduce new products - in particular, flexible ramping products - to accommodate the renewables' variability and…
The large-scale integration of inverter-interfaced renewable energy sources presents significant challenges to maintaining power balance and nominal frequency in modern power systems. This paper studies grid-level coordinated control of…
In this paper, we propose a hierarchical game approach to model the energy efficiency maximization problem where transmitters individually choose their channel assignment and power control. We conduct a thorough analysis of the existence,…