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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…

Maintaining energy balance and economical operation is significant for multi-energy systems such as the energy hub. However, it is usually challenged by the frequently changing and unpredictable uncertainties at different timescales. Under…

The increasing interconnection of power systems through AC and DC links enables energy storage units to access multiple electricity markets yet most existing arbitrage models remain limited to singlemarket participation This gap restricts…

Models for long-term investment planning of the power system typically return a single optimal solution per set of cost assumptions. However, typically there are many near-optimal alternatives that stand out due to other attractive…

The increasing penetration of renewable energy necessitates improved power system flexibility, driving the deployment of independent energy storage operators (ESOs). Existing research extensively investigates capacity sizing for price-taker…

Electricity market design that accounts for grid constraints such as voltage and thermal limits at the distribution level can increase opportunities for the grid integration of Distributed Energy Resources (DERs). In this paper, we consider…

The electricity industry has been one of the first to face technological changes motivated by sustainability concerns. Whilst efficiency aspects of market design have tended to focus upon market power concerns, the new policy challenges…

The Paris agreement is the first-ever universally accepted and legally binding agreement on global climate change. It is a bridge between today's and climate-neutrality policies and strategies before the end of the century. Critical to this…

Efficient markets are characterised by profit-driven participants continuously refining their positions towards the latest insights. Margins for profit generation are generally small, shaping a difficult landscape for automated trading…

Appropriately designed renewable support policies can play a leading role in promoting renewable expansions and contribute to low emission goals. Meanwhile, ill-designed policies may distort electricity markets, put power utilities and…

To decarbonize the economy, many governments have set targets for the use of renewable energy sources. These are often formulated as relative shares of electricity demand or supply. Implementing respective constraints in energy models is 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…

While wind and solar power contribute to sustainability, their intermittent nature poses challenges when integrated into the grid. To mitigate these issues, renewable energy can be combined with coal fired power and hydropower sources to…

The European Union Emission Trading Scheme (EU ETS) is a cornerstone of the EU's strategy to fight climate change and an important device for plummeting greenhouse gas (GHG) emissions in an economically efficient manner. The power industry…

Although energy system optimisation based on linear optimisation is often used for influential energy outlooks and studies for political decision-makers, the underlying background still needs to be described in the scientific literature in…

Harnessing the demand-side flexibility in building and mobility sectors can help to better integrate renewable energy into power systems and reduce global CO2 emissions. Enabling this sector coupling can be achieved with advances in energy…

Flexibility options, such as demand response, energy storage and interconnection, have the potential to reduce variation in electricity prices between different future scenarios, therefore reducing investment risk. Moreover, investment in…

This paper employs a game-theoretic approach to analyze investment decisions in Ireland's electricity market. It compares optimal electricity investment strategies among energy generators under a perfect competition framework with an…

There is a strong need to reduce greenhouse gas emissions to deal with climate change. In the power sector, changing the power generation method in the medium and long term is needed to reduce greenhouse gas emissions. This paper proposes a…

Transitioning from fossil-fuel power generation to renewable energy generation and energy storage in remote locations has the potential to reduce both carbon emissions and cost. This study presents a techno-economic analysis for…