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We study the prices of European Emission Allowances (EUA), whereby we analyze their uncertainty and dependencies on related energy prices (natural gas, coal, and oil). We propose a probabilistic multivariate conditional time series model…
This paper proposes an energy management technique for a consumer-to-grid system in smart grid. The benefit to consumers is made the primary concern to encourage consumers to participate voluntarily in energy trading with the central power…
There are several approaches to modeling and forecasting time series as applied to prices of commodities and financial assets. One of the approaches is to model the price as a non-stationary time series process with heteroscedastic…
The growing use of electric vehicles (EVs) may hinder their integration into the electricity system as well as their efficient operation due to the intrinsic stochasticity associated with their driving patterns. In this work, we assume a…
This paper explores the feasibility of social cooperation between prosumers within an energy network in establishing their sustainable participation in peer-to-peer (P2P) energy trading. In particular, a canonical coalition game (CCG) is…
Low-carbon electricity is a key enabler in combating climate change. Decarbonising the power sector is now at the centre of global and European policies. As the IPCC highlights, pathways where the power sector rapidly decarbonises by 2030…
The increasing attention to environmental issues is forcing the implementation of novel energy models based on renewable sources, fundamentally changing the configuration of energy management and introducing new criticalities that are only…
We propose a market designed using game theory to optimally utilize the flexibility of distributed energy resources (DERs) like solar, batteries, electric vehicles, and flexible loads. Market agents perform multiperiod optimization to…
In order to reach EU's goal of zero emissions in 2050, the energy system will go through a significant transition over the next decades. To substitute fossil energy carriers, renewable energy sources will be mainly integrated in the power…
The modelling of modern power markets requires the representation of the following main features: (i) a stochastic dynamic decision process, with uncertainties related to renewable production and fuel costs, among others; and (ii) a…
Economic model predictive control has been proposed as a means for solving the unit loading and unit allocation problem in multi-chiller cooling plants. The adjective economic stems from the use of financial cost due to electricity…
With the sustained attention on carbon neutrality, the personal carbon trading (PCT) scheme has been embraced as an auspicious paradigm for scaling down carbon emissions. To facilitate the simultaneous clearance of energy and carbon…
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…
This paper studies the problem of stochastic dynamic pricing and energy management policy for electric vehicle (EV) charging service providers. In the presence of renewable energy integration and energy storage system, EV charging service…
Large-scale renewable energy deployment introduces pronounced volatility into the electricity system, turning grid operation into a complex stochastic optimization problem. Accurate electricity price forecasting (EPF) is essential not only…
The European Union Emission Trading System is a prominent market-based mechanism to reduce emissions. While the theory is well understood, we are the first to study the whole cap-and-trade mechanism as a financial market. Analyzing the…
A multiple market trading mechanism for the VPP to participate in electricity, renewable energy certificate (REC) and carbon emission right (CER) markets is proposed. With the introduction of the inventory mechanism of REC and CER, the…
Extreme weather events stemming from climate change can cause significant damage and disruption to power systems. Failure to mitigate and adapt to climate change and its cascading effects can lead to short and long term issues. The profound…
The increasing trend of transportation electrification presents investors the opportunity to provide charging services to Electric Vehicle (EV) owners via the energy purchased from the wholesale electricity market. This will benefit EV…
This work is concerned with the application of game theoretic principles to model competition between demand response aggregators for selling excess energy stored in electrochemical storage devices directly to other aggregators in a power…