Related papers: Dimensional Pricing Based on Dynamism of Load
Locational Marginal Price (LMP) is a dual variable associated with supply-demand matching and represents the cost of delivering power to a particular location if the load at that location increases. In recent times it become more volatile…
In this paper, we explore a novel combination of supervised learning and quadratic programming to refine dynamic pricing models in the car rental industry. We utilize dynamic modeling of price elasticity, informed by ordinary least squares…
We propose an online pricing mechanism for electric vehicle (EV) charging. A charging station decides prices for each arriving EV depending on the energy and the time within which the EV will be served (i.e. deadline). The user selects…
The proliferation of behind-the-meter (BTM) distributed energy resources (DER) within the electrical distribution network presents significant supply and demand flexibilities, but also introduces operational challenges such as voltage…
Systems for the generation and distribution of electrical power represents critical infrastructure and, when extreme weather events disrupt such systems, this imposes substantial costs on consumers. These costs can be conceptualized as…
The increasing global spread of electric vehicles (EVs) has introduced significant interdependence between transportation and power networks. Most of the previous studies on coupled networks focus on the formation of equilibrium states…
Typically the cost of a product, a good or a service has many components. Those components come from different complex steps in the supply chain of the product from sourcing to distribution. This economic point of view also takes place in…
Demand Response is an emerging technology which will transform the power grid of tomorrow. It is revolutionary, not only because it will enable peak load shaving and will add resources to manage large distribution systems, but mainly…
We propose a term structure power price model that, in contrast to widely accepted no-arbitrage based approaches, accounts for the non-storable nature of power. It belongs to a class of equilibrium game theoretic models with players divided…
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 dynamics of power consumption constitutes an essential building block for planning and operating energy systems based on renewable energy supply. Whereas variations in the dynamics of renewable energy generation are reasonably well…
In recent years, the implementation of the demand response (DR) programs in the power systems scheduling and operation is increased. DR is used to improve the consumers' and power providers economic condition. That said, optimal power flow…
The authors provide a comprehensive overview of flexibility characterization along the dimensions of time, spatiality, resource, and risk in power systems. These dimensions are discussed in relation to flexibility assets, products, and…
Urban food delivery services have become an integral part of daily life, yet their mobility and environmental externalities remain poorly addressed by planners. Most studies neglect whether consumers pay enough to internalize the broader…
We present a new model for the electricity spot price dynamics, which is able to capture seasonality, low-frequency dynamics and the extreme spikes in the market. Instead of the usual purely deterministic trend we introduce a non-stationary…
In this paper we formulate an optimization approach to schedule electrical loads given a short term prediction of time-varying power production and the ability to store only a limited amount of electrical energy. The proposed approach is…
Distribution power systems (DPSs) are mostly unbalanced, and their loads may have notable static voltage characteristics (ZIP loads). Hence, despite abundant papers on linear single-phase power flow models, it is still necessary to study…
In this paper we develop a novel method of wholesale electricity market modeling. Our optimization-based model decomposes wholesale supply and demand curves into buy and sell orders of individual market participants. In doing so, the model…
Data centers (DCs) are emerging as large, geographically distributed, controllable loads whose participation in electricity markets can significantly affect grid operation, especially when cloud platforms shift workloads across sites to…
Dynamic pricing models often posit that a $\textbf{stream}$ of customer interactions occur sequentially, where customers' valuations are drawn independently. However, this model is not entirely reflective of the real world, as it overlooks…