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This paper studies the optimal investment behavior of renewable electricity producers in a competitive market, where both prices and installation costs are influenced by aggregate industry activity. We model the resulting crowding effects…
Climate and energy policy targets of the European Commission aim to make Europe the first climate-neutral continent by 2050. For low-carbon and net-neutral energy systems primarily based on variable renewable power generation, issues…
Microgrids are local energy systems that integrate energy production, demand, and storage units. They are generally connected to the regional grid to import electricity when local production and storage do not meet the demand. In this…
In this work, we propose a multi-layer market for vehicle-to-grid energy trading. In the macro layer, we consider a double auction mechanism, under which the utility company act as an auctioneer and energy buyers and sellers interact. This…
One approach to reducing greenhouse gas (GHG) emissions is to incentivize carbon capturing and carbon reducing projects while simultaneously penalising excess GHG output. In this work, we present a novel market framework and characterise…
Tackling climate change requires the rapid and deep decarbonization of electric power systems. While energy management systems (EMSs) play a central role in this transition, conventional EMSs focus mainly on economic efficiency and often…
The implementation of electricity markets based on locational marginal pricing in a multi-settlement process has allowed wholesale competition, with pricing mechanisms that incentivize the optimal allocation of generation, transmission, and…
The emergence of distributed generation and the electrification of demand have opened the possibility for prosumers to participate in electricity markets, receiving economic benefits on their bills and contributing to the reduction of…
To accommodate the advent of microgrids (MG) managing distributed energy resources (DER) in distribution systems, an interactive two-stage joint retail electricity market mechanism is proposed to provide an effective platform for these…
The continuous penetration of distributed energy resources (DER) in the electric power grid is driving a new paradigm shift towards transactive energy system (TES), an active and more sustainable system characterized by distributed…
Incorporating renewable energy sources (RESs) into manufacturing systems has been an active research area in order to address many challenges originating from the unpredictable nature of RESs such as photovoltaics.In the energy-aware…
We propose a real-time nodal pricing mechanism for cost minimization and voltage control in a distribution network with autonomous distributed energy resources and analyze the resulting market using stochastic game theory. Unlike existing…
Recently, chance-constrained stochastic electricity market designs have been proposed to address the shortcomings of scenario-based stochastic market designs. In particular, the use of chance-constrained market-clearing avoids trading off…
This work considers energy management in a grid-connected microgrid which consists of multiple conventional generators (CGs), renewable generators (RGs) and energy storage systems (ESSs). A two-stage optimization approach is presented to…
Stochastic controllers are perceived as a promising solution for techno-economic operation of distribution networks having higher generation uncertainties at large penetration of renewables. These controllers are supported by forecasters…
Although the specific structures of electricity markets are diverse around the world, they were all conceived on the premise of predictable, controllable generation with nonnegligible marginal costs. Recent changes, specifically, the…
The growing amount of intermittent renewables in power generation creates challenges for real-time matching of supply and demand in the power grid. Emerging ancillary power markets provide new incentives to consumers (e.g., electrical…
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 European power grid can be divided into several market areas where the price of electricity is determined in a day-ahead auction. Market participants can provide continuous hourly bid curves and combinatorial bids with associated…
The concept of low-carbon building is proposed to ameliorate the climate change caused by environmental problems and realize carbon neutrality at the building level in urban areas. In addition, renewable energy curtailment in the power…