Related papers: Pricing Multi-Interval Dispatch under Uncertainty …
The increasing vulnerability of power systems has heightened the need for operating reserves to manage contingencies such as generator outages, line failures, and sudden load variations. Unlike energy costs, driven by consumer demand,…
The dynamic response of power grids to small transient events or persistent stochastic disturbances influences their stable operation. This paper studies the effect of topology on the linear time-invariant dynamics of power networks. For a…
We investigate the distributed online economic dispatch problem for power systems with time-varying coupled inequality constraints. The problem is formulated as a distributed online optimization problem in a multi-agent system. At each time…
We present modeling and analysis of day-ahead spatio-temporal energy markets in which each competitive aggregator aims at making the highest profit by managing a complex mixture of different energy resources, such as conventional…
Increasing reliability and reducing disruptions in supply networks are of increasing importance; for example, power outages in electricity distribution networks cost \$35-50 billion annually in the US. Motivated by the operational…
A large fraction of the total electric load is comprised of end-use devices whose demand for energy is inherently deferrable in time. Of interest is the potential to leverage on such latent flexibility in demand to absorb variability in…
Nonconvexities in markets with discrete decisions and nonlinear constraints make efficient pricing challenging, often necessitating subsidies. A prime example is the unit commitment (UC) problem in electricity markets, where costly…
Wholesale electricity markets are increasingly integrated via high voltage interconnectors, and inter-regional trade in electricity is growing. To model this, we consider a spatial equilibrium model of price formation, where constraints on…
Disputes over cost allocation can present a significant barrier to investment in shared infrastructure. While it may be desirable to allocate cost in a way that corresponds to expected benefits, investments in long-lived projects are made…
Time-bound stablecoins are DeFi assets that temporarily tokenize traditional securities during market off-hours, enabling continuous cross-market liquidity. We introduce the Liquidity-of-Time Premium (TLP): the extra return or cost of…
We study a bilateral trade problem where a principal has private information that is revealed with delay, such as a seller who does not yet know her production cost. Postponing the contracting process incurs a costly delay, while early…
To coordinate resources among multi-level stakeholders and enhance the integration of electric vehicles (EVs) into multi-microgrids, this study proposes an optimal dispatch strategy within a multi-microgrid cooperative alliance using a…
We consider fixed load power market with non-convexities originating from start-up and no-load costs of generators. The convex hull (minimal uplift) pricing method results in power prices minimizing the total uplift payments to generators,…
Accurate prediction of electricity prices plays an essential role in the electricity market. To reflect the uncertainty of electricity prices, price intervals are predicted. This paper proposes a novel prediction interval construction…
We consider the problem of how multiple areas should jointly cover congestion rents of internal and tie-lines in an interconnected power system. A key issue of our concern is the loop flow problem, which represents discrepancies between…
In order to deal with market power that sporadically results from contingencies (e.g., severe weather, plant outages) most electricity markets have institutions in charge of monitoring market performance and mitigating market power. The…
The rapid growth of urban populations and the increasing need for sustainable transportation solutions have prompted a shift towards electric buses in public transit systems. However, the effective management of mixed fleets consisting of…
Mobility-on-demand systems are transforming the way we think about the transportation of people and goods. Most research effort has been placed on scalability issues for systems with a large number of agents and simple pick-up/drop-off…
This paper presents a new dynamic pricing model (a.k.a. real-time pricing) that reflects startup costs of generators. Dynamic pricing, which is a method to control demand by pricing electricity at hourly (or more often) intervals, has been…
A non-centralized model predictive control (MPC) scheme for solving an economic dispatch problem of electrical networks is proposed in this paper. The scheme consists of two parts. The first part is an event-triggered repartitioning method…