Related papers: Learning Large Electrical Loads via Flexible Contr…
This paper investigates the role of flexible connection in accelerating the interconnection of large loads amid rising electricity demand from data centers and electrification. Flexible connection allows new loads to defer or curtail…
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…
The increasing penetration of renewable energy poses significant challenges to power grid reliability. There have been increasing interests in utilizing financial tools, such as insurance, to help end-users hedge the potential risk of lost…
Despite the success of demand response programs in retail electricity markets in reducing average consumption, the random responsiveness of consumers to price event makes their efficiency questionable to achieve the flexibility needed for…
In conventional mobile data plans, the data is associated with a fixed period (e.g., one month) and the unused data will be cleared at the end of each period. To take advantage of consumers' heterogeneous demands across different periods…
We design an optimal contract between a demand response aggregator (DRA) and a customer for incentive-based demand response. We consider a setting in which the customer is asked to reduce her consumption by the DRA and she is compensated…
Potential of electrical loads in providing grid ancillary services is often limited due to the uncertainties associated with the load behavior. A knowledge of the expected uncertainties with a load control program would invariably yield to…
Flexible loads, i.e. the loads whose power trajectory is not bound to a specific one, constitute a sizable portion of current and future electric demand. This flexibility can be used to improve the performance of the grid, should the right…
Demand response (DR) is a cost-effective and environmentally friendly approach for mitigating the uncertainties in renewable energy integration by taking advantage of the flexibility of customers' demands. However, existing DR programs…
Renewable energy-based microgrids play a critical role in future smart grids. Due to the uncertainties of renewable generations, the microgrids face potential risk of load shedding during operation. To address this problem, we propose a…
In this paper we formulate a contract design problem where a primary license holder wishes to profit from its excess spectrum capacity by selling it to potential secondary users/buyers. It needs to determine how to optimally price the…
We design an optimal contract between a demand response aggregator (DRA) and power grid customers for incentive-based demand response. We consider a setting in which the customers are asked to reduce their electricity consumption by the DRA…
Flexibility is a key enabler for the smart grid, required to facilitate Demand Side Management (DSM) programs, managing electrical consumption to reduce peaks, balance renewable generation and provide ancillary services to the grid.…
The electricity system becomes more complex, connecting massive numbers of end-users and distributed generators. Adding or removing grid connections requires expert studies to align technical constraints with user requests. In times of…
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…
Flexible load at the demand-side has been regarded as an effective measure to cope with volatile distributed renewable generations. To unlock the demand-side flexibility, this paper proposes a peer-to-peer energy sharing mechanism that…
Flexibility options, such as demand response, energy storage and interconnection, have the potential to reduce variation in electricity prices between different future scenarios, therefore reducing investment risk. Moreover, investment in…
This paper proposes a method to design an optimal dynamic contract between a principal and an agent, who has the authority to control both the principal's revenue and an engineered system. The key characteristic of our problem setting is…
The presence of variable renewable energy resources with uncertain outputs in day-ahead electricity markets results in additional balancing needs in real-time. Addressing those needs cost-effectively and reliably within a competitive market…
We study the optimal design of electricity contracts among a population of consumers with different needs. This question is tackled within the framework of Principal-Agent problems in presence of adverse selection. The particular features…