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The electricity market is threatened by supply scarcity, which may lead to very sharp price spikes in the spot market. On the other hand, demand-side's activities could effectively mitigate the supply scarcity and absorb most of these…
Traditional pricing paradigms, once dominated by static models and rule-based heuristics, are increasingly being replaced by dynamic, data-driven approaches powered by machine learning algorithms. Despite their growing sophistication, most…
In societal-scale infrastructures, such as electric grids or transportation networks, pricing mechanisms are often used as a way to shape users' demand in order to lower operating costs and improve reliability. Existing approaches to…
With the ongoing integration of Renewable Energy Sources (RES), the complexity of power grids is increasing. Due to the fluctuating nature of RES, ensuring the reliability of power grids can be challenging. One possible approach for…
In real time electricity markets, the objective of generation companies while bidding is to maximize their profit. The strategies for learning optimal bidding have been formulated through game theoretical approaches and stochastic…
Our team is proposing to run a full-scale energy demand response experiment in an office building. Although this is an exciting endeavor which will provide value to the community, collecting training data for the reinforcement learning…
Many smart grid frameworks, such as demand response programs, require accurate information about consumers' parameters (e.g., flexibility) at the aggregator side to optimize grid operations. Existing works typically rely on perfect…
In this paper, we consider a realistic and meaningful scenario in the context of smart grids where an electricity retailer serves three different types of customers, i.e., customers with an optimal home energy management system embedded in…
Unprecedented high volumes of data are becoming available with the growth of the advanced metering infrastructure. These are expected to benefit planning and operation of the future power system, and to help the customers transition from a…
Periodic double auctions (PDA) have applications in many areas such as in e-commerce, intra-day equity markets, and day-ahead energy markets in smart-grids. While the trades accomplished using PDAs are worth trillions of dollars, finding a…
In the realm of online advertising, advertisers partake in ad auctions to obtain advertising slots, frequently taking advantage of auto-bidding tools provided by demand-side platforms. To improve the automation of these bidding systems, we…
Real-time bidding has emerged as an effective online advertising technique. With real-time bidding, advertisers can position ads per impression, enabling them to optimise ad campaigns by targeting specific audiences in real-time. This paper…
We consider a seller who offers services to a buyer with multi-unit demand. Prior to the realization of demand, the buyer receives a noisy signal of their future demand, and the seller can design contracts based on the reported value of…
In the context of charging electric vehicles (EVs), the price-based demand response (PBDR) is becoming increasingly significant for charging load management. Such response usually encourages cost-sensitive customers to adjust their energy…
This paper proposes a hybrid approach to optimal day-ahead pricing for demand response management. At the customer-side, compared with the existing work, a detailed, comprehensive and complete energy management system, which includes all…
Demand response (DR) programs aim to engage distributed small-scale flexible loads, such as thermostatically controllable loads (TCLs), to provide various grid support services. Linearly Solvable Markov Decision Process (LS-MDP), a variant…
Virtual bidding plays an important role in two-settlement electric power markets, as it can reduce discrepancies between day-ahead and real-time markets. Renewable energy penetration increases volatility in electricity prices, making…
There are numerous industrial settings in which a decision maker must decide whether to enter into long-term contracts to guarantee price (and hence cash flow) stability or to participate in more volatile spot markets. In this paper, we…
Bidding strategies that help advertisers determine bidding prices are receiving increasing attention as more and more ad impressions are sold through real-time bidding systems. This paper first describes the problem and challenges of…
Demand response (DR) programs play a crucial role in improving system reliability and mitigating price volatility by altering the core profile of electricity consumption. This paper proposes a game-theoretical model that captures the…