Related papers: Reliability-Aware Probabilistic Reserve Procuremen…
We study non-monetary mechanisms for the fair and efficient allocation of reusable public resources, i.e., resources used for varying durations. We consider settings where a limited resource is repeatedly shared among a set of agents, each…
In the transition toward a sustainable power system, renewable-based Virtual Power Plants (RVPPs) have emerged as a promising solution to the challenges of integrating renewable energy sources into electricity markets. Their viability,…
The growing penetration of renewable energy sources is expected to drive higher demand for power reserve ancillary services (AS). One solution is to increase the supply by integrating distributed energy resources (DERs) into the AS market…
Electricity price forecasting has become a critical tool for decision-making in energy markets, particularly as the increasing penetration of renewable energy introduces greater volatility and uncertainty. Historically, research in this…
To enable the participation of stochastic distributed energy resources in ancillary service markets, the Danish transmission system operator, Energinet, mandates that flexibility providers satisfy a minimum 90% reliability requirement for…
With the increasing penetration of intermittent renewable energy sources (RESs), it becomes increasingly challenging to maintain the supply-demand balance of power systems by solely relying on the generation side. To combat the volatility…
The intermittent nature of the renewable energies increases the operation costs of conventional generators. As the share of energy supplied by renewable sources increases, these costs also increase. In this paper, we quantify these costs by…
We study a robust selling problem where a seller attempts to sell one item to a buyer but is uncertain about the buyer's valuation distribution. Existing literature shows that robust screening provides a stronger theoretical guarantee than…
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,…
Electricity markets are under increasing pressure to maintain reliability amidst rising renewable penetration, demand variability, and occasional price shocks. Traditional capacity market designs often fall short in addressing this by…
The robust multi-product pricing problem is to determine the prices of a collection of products so as to maximize the worst-case revenue, where the worst case is taken over an uncertainty set of demand models that the firm expects could be…
Selling reserved instances (or virtual machines) is a basic service in cloud computing. In this paper, we consider a more flexible pricing model for instance reservation, in which a customer can propose the time length and number of…
The presence of variable renewable energy resources with uncertain outputs in day-ahead electricity markets results in additional balancing needs in real-time. Addressing those needs cost-effectively and reliably within a competitive market…
This paper suggests leveraging reactive power potential (RPP) embedded in wind farms to improve power system operational safety and optimality. First, three typical RPP provision approaches are analyzed and a two-stage robust linear…
Shift of the power system generation from the fossil to the variable renewable sources prompted the system operators to search for new sources of flexibility, that is, new reserve providers. With the introduction of electric vehicles, smart…
The growing penetration of renewable generation in distribution networks, primarily deployed by end-use electricity customers, is changing the traditional load profile and inevitably makes supply-load balancing more challenging for grid…
Due to the limited predictability of wind power and other stochastic generation, trading this energy in competitive electricity markets is challenging. This paper derives revenue-maximising and risk-constrained strategies for stochastic…
The roll-out of stochastic renewable energy sources (RES) undermines the efficiency of power system and market operations. This paper proposes an approach to derive electricity prices that internalize RES stochasticity. We leverage a…
Display advertising is an important online advertising type where banner advertisements (shortly ad) on websites are usually measured by how many times they are viewed by online users. There are two major channels to sell ad views. They can…
The Intergovernmental Panel on Climate Change proposes different mitigation strategies to achieve the net emissions reductions that would be required to follow a pathway that limits global warming to 1.5{\deg}C with no or limited overshoot.…