Related papers: A Reactive Power Market for the Future Grid
The problem of dynamic pricing of electricity in a retail market is considered. A Stackelberg game is used to model interactions between a retailer and its customers; the retailer sets the day-ahead hourly price of electricity and consumers…
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…
This paper presents a market-based optimization framework wherein Aggregators can compete for nodal capacity across a distribution feeder and guarantee that allocated flexible capacity cannot cause overloads or congestion. This mechanism,…
We examine market outcomes in energy transport networks with a focus on gas-fired generators, which are producers in a wholesale electricity market and consumers in the natural gas market. Market administrators monitor bids to determine…
With the deregulation of power industry, large power users can buy electricity directly from power producers. For trades between different regional markets, it is necessary to research on the method to find the cheapest route for power…
In this study, we develop a theoretical model of strategic equilibrium bidding and price-setting behaviour by heterogeneous and boundedly rational electricity producers and a grid operator in a single electricity market under uncertain…
The rapid adoption of AI has led the growth of computational demand, with large language models (LLMs) at the forefront since ChatGPT's debut in 2022. Meanwhile, large amounts of renewable energy have been deployed but, ultimately,…
The popularization of distributed energy resources transforms end-users from consumers into prosumers. Inspired by the sharing economy principle, energy sharing markets for prosumers are proposed to facilitate the utilization of renewable…
One of the major issues with the integration of renewable energy sources into the power grid is the increased uncertainty and variability that they bring. If this uncertainty is not sufficiently addressed, it will limit the further…
In face of the pressing need of decarbonization in the power sector, the re-design of electricity market is necessary as a Marco-level approach to accommodate the high penetration of renewable generations, and to achieve power system…
Modern distribution grids with high penetration of renewable generation provide substantial flexibility through distributed reactive power sources and transformer tap changers. This high degree of freedom can be exploited for optimisation.…
Virtual power plant (VPP) provides a flexible solution to distributed energy resources integration by aggregating renewable generation units, conventional power plants, energy storages, and flexible demands. This paper proposes a novel…
Decarbonizing electric grids is a crucial global endeavor in the pursuit of carbon neutrality. Taking carbon emissions from generation into account when pricing electricity usage is an essential way to achieve this goal. However, such…
With the sustained deployment of distributed generation capacities and the more proactive role of consumers, power systems and their operation are drifting away from a conventional top-down hierarchical structure. Electricity market…
We analyze the problem of a renewable generator who wants to sell its random generation in a two-stage market to a number of strategic, but flexible, load serving entities (LSEs). To offer an incentive to participate in the auction, the…
The integration of various energy resources with wind farms, results in improved market-aware management of wind generation variations. Consequently, the proposed method minimizes the negative impact associated with wind generation…
We consider the problem of demand-side energy management, where each household is equipped with a smart meter that is able to schedule home appliances online. The goal is to minimize the overall cost under a real-time pricing scheme. While…
Hydrogen produced through electrolysis with renewable power is considered key to decarbonize several hard-to-electrify sectors. This work proposes a novel approach to model the active electricity market participation of co-located renewable…
As energy markets begin clearing at sub-hourly rates, their interaction with load control systems becomes a potentially important consideration. A simple model for the control of thermal systems using market-based power distribution…
As distribution systems move towards being more actively managed there is increased potential for regional markets and the application of locational marginal prices (LMPs) to capture spatial variation in the marginal cost of electricity at…