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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…
Seasonal climate variations affect electricity demand, which in turn affects month-to-month electricity planning and operations. Electricity system planning at the monthly timescale can be improved by adapting climate forecasts to estimate…
A competitive wholesale electricity market consists of thousands of interacting market participants. Driven by the variations of fuel costs, system loads and weathers, these market participants compete actively and behave variously in the…
This paper focuses on the problem of energy imbalance management in amicrogrid. The problem is investigated from the power market perspective. Unlike the traditional power grid, a microgrid can obtain extra energy froma renewable energy…
The integration of renewables into electrical grids calls for the development of tailored control schemes which in turn require reliable grid models. In many cases, the grid topology is known but the actual parameters are not exactly known.…
In this paper we propose a tractable quadratic programming formulation for calculating the equilibrium term structure of electricity prices. We rely on a theoretical model described in [21], but extend it so that it reflects actually traded…
The United States' power market is featured by the lack of judicial power at the federal level. The market thus provides a unique testing environment for the market organization structure. At the same time, the econometric modeling and…
Electricity market price predictions enable energy market participants to shape their consumption or supply while meeting their economic and environmental objectives. By utilizing the basic properties of the supply-demand matching process…
A method for optimizing a central receiver solar thermal electric power plant is studied. We parametrize the plant design as a function of eleven design variables and reduce the problem of finding optimal designs to the numerical problem of…
This paper presents an improved mixed-integer model for the Thermal Unit Commitment Problem. By introducing new variables for the temperature of each thermal unit, the off-time-dependent start-up costs are modeled accurately and with a…
Electricity market mechanisms designed to steer sustainable generation of electricity play an important role for the energy transition intended to mitigate climate change. One of the major problems is to complement volatile renewable energy…
In this study, an optimization problem is proposed in order to obtain the maximum economic benefit from wind farms with variable and intermittent energy generation in the day ahead and balancing electricity markets. This method, which is…
The effectiveness of utility-maximization techniques for portfolio management relies on our ability to estimate correctly the parameters of the dynamics of the underlying financial assets. In the setting of complete or incomplete financial…
Understanding electrical energy demand at the consumer level plays an important role in planning the distribution of electrical networks and offering of off-peak tariffs, but observing individual consumption patterns is still expensive. On…
We propose a multi-stage stochastic programming model for the optimal participation of energy communities in electricity markets. The multi-stage aspect captures the different times at which variable renewable generation and electricity…
Coordinating the operation of units at the interface between heat and electricity systems, such as combined heat and power plants and heat pumps, is essential to reduce inefficiencies in each system and help achieve a cost-effective and…
Demand-side energy management, such as the real-time pricing (RTP) program, offers manufacturers opportunities to reduce energy costs by shifting production to low-price hours. However, this strategy is challenging to implement when machine…
Taking uncertainty into account is crucial when making strategic decisions. To guard against the risk of adverse scenarios, traditional optimisation techniques incorporate uncertainty on the basis of prior knowledge on its distribution. In…
This paper presents a parametric quadratic approximation of the AC optimal power flow (AC-OPF) problem for time-sensitive and market-based applications. The parametric approximation preserves the physics-based but simple representation…
The energy transition is expected to significantly increase the share of renewable energy sources whose production is intermittent in the electricity mix. Apart from key benefits, this development has the major drawback of generating a…