Related papers: Distribution Electricity Pricing under Uncertainty
Power systems dominated by converter-interfaced distributed energy resources (DERs) typically exhibit weaker damping capabilities and lower inertia, compromising system stability. Although individual DER controllers are evolving to provide…
Traditional electric energy markets do not explicitly model generator contingencies. To improve the representation of resources and to enhance the modeling of uncertainty, existing markets are moving in the direction of including generator…
In the evolving landscape of digital commerce, adaptive dynamic pricing strategies are essential for gaining a competitive edge. This paper introduces novel {\em doubly nonparametric random utility models} that eschew traditional parametric…
We address the co-optimization of behind-the-meter (BTM) distributed energy resources (DER), including flexible demands, renewable distributed generation (DG), and battery energy storage systems (BESS) under net energy metering (NEM)…
Adopting a zonal structure of electricity market requires specification of zones' borders. In this paper we use social welfare as the measure to assess quality of various zonal divisions. The social welfare is calculated by Market Coupling…
Under transactive (market-based) coordination, a population of distributed energy resources (DERs), such as thermostatically controlled loads (TCLs) and storage devices, bid into an energy market. Consequently, a certain level of demand…
In Part II of this two-part paper, we analyze the marginal prices derived in Part I of this two-part paper within a robust optimization framework. The load and generation are priced at Locational Marginal Price (LMP) while the uncertainty…
Due to its theoretical virtues, several recent works propose the use of the incentive-compatible Vickrey-Clarke-Groves (VCG) mechanism for electricity markets. Coalitions of participants, however, can influence the VCG outcome to obtain…
The electric power system is currently experiencing radical changes stemming from the increasing share of renewable energy resources and the consequent decommissioning of conventional power plants based on synchronous generators. Since the…
Distributed model predictive control methods for uncertain systems often suffer from considerable conservatism and can tolerate only small uncertainties due to the use of robust formulations that are amenable to distributed design and…
The rapid growth of weather-dependent renewable generation increases price volatility and imbalance penalty risk in power markets, creating the need for advanced quantitative trading strategies. We develop a data-driven continuous-time…
In energy systems with high shares of weather-driven renewable power sources, gas-fired power plants can serve as a back-up technology to ensure security of supply and provide short-term flexibility. Therefore, a tighter coordination…
Volatile electrical energy prices are a challenge and an opportunity for small and medium-size companies in energy-intensive industries. By using electrical energy storage and/or an adaptation of production processes, companies can…
The rapid integration of renewable energy resources, such as tidal and photovoltaic (PV) power, coupled with the growing deployment of electric vehicle (EV) charging infrastructure, necessitates coordinated planning for coastal urban…
In this article, a multiple split method is proposed that enables construction of multidimensional probabilistic forecasts of a selected set of variables. The method uses repeated resampling to estimate uncertainty of simultaneous…
Flexible loads, e.g. thermostatically controlled loads (TCLs), are technically feasible to participate in demand response (DR) programs. On the other hand, there is a number of challenges that need to be resolved before it can be…
Increasing wind turbines (WT) penetration and low carbon demand can potentially lead to two different flow peaks, generation and load, within distribution networks. This will not only constrain WT penetration but also pose serious threats…
Increasing integration of renewable generation poses significant challenges to ensure robustness guarantees in real-time energy system decision-making. This work aims to develop a robust optimal transmission switching (OTS) framework that…
In power markets, understanding the cost dynamics of electricity generation is crucial. The complexity of price formation in the power system arises from its diverse attributes, such as various generator types, each characterized by its…
The evolution of smart microgrid and its demand-response characteristics not only will change the paradigms of the century-old electric grid but also will shape the electricity market. In this new market scenario, once always energy…