Related papers: A Two-Stage Mechanism for Demand Response Markets
We develop a dynamic multi-agent model of an interbank payment system where banks choose their level of available funds on the basis of private payoff maximisation. The model consists of the repetition of a simultaneous move stage game with…
Matching and pricing are two critical levers in two-sided marketplaces to connect demand and supply. The platform can produce more efficient matching and pricing decisions by batching the demand requests. We initiate the study of the…
Electrification is contributing to substantial growth in U.S. commercial and industrial loads, but the cost and Scope 2 carbon emission implications of this load growth are opaque for both power consumers and utilities. This work describes…
Recent trends express the impact of prosumers and small energy resources and storages in distribution systems, due to the increasing uptake of renewable resources. This research studies the effect of coordination of distributed resources…
Counterfactual explanations constitute among the most popular methods for analyzing black-box systems since they can recommend cost-efficient and actionable changes to the input of a system to obtain the desired system output. While most of…
In this paper, the problem of electric vehicle (EV) charging at the workplace is addressed via a two-layer predictive algorithm. We consider a time of use (TOU) pricing model for energy drawn from the grid and try to minimize the charging…
Demand Side Response (DSR) is a strategy that enables consumers to actively participate in managing electricity demand. It aims to alleviate strain on the grid during high demand and promote a more balanced and efficient use of (renewable)…
Battery energy storage systems can be used for peak demand reduction in power systems, leading to significant economic benefits. Two practical challenges are 1) accurately determining the peak load days and hours and 2) quantifying and…
In this work, we use a Stackelberg infinite discrete-time dynamic game model to study the optimal supply schedule and the optimal demand response under a market-driven dynamic price. A two-layer optimization framework is established. At the…
We explore how Demand Response (DR) can effectively provide electricity system services such as for the management of bi-directional power flows and the control of voltage deviations in active distribution networks, without compromising…
This paper proposes a market mechanism for multi-interval electricity markets with generator and storage participants. Drawing ideas from supply function bidding, we introduce a novel bid structure for storage participation that allows…
We present a comparative study of different probabilistic forecasting techniques on the task of predicting the electrical load of secondary substations and cabinets located in a low voltage distribution grid, as well as their aggregated…
Motivated by demand-side management in smart grids, a decentralized controlled Markov chain formulation is proposed to model a homogeneous population of users with binary demands (i.e., off or on). The binary demands often arise in…
This paper presents an integrated model for bidding energy storage in day-ahead and real-time markets to maximize profits. We show that in integrated two-stage bidding, the real-time bids are independent of day-ahead settlements, while the…
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…
Over the last few decades, electricity markets around the world have adopted multi-settlement structures, allowing for balancing of supply and demand as more accurate forecast information becomes available. Given increasing uncertainty due…
Effective demand forecasting is critical for inventory management, production planning, and decision making across industries. Selecting the appropriate model and suitable features to efficiently capture patterns in the data is one of the…
The widespread adoption of electric vehicles (EVs) has increased the importance of demand response in smart grids. This paper proposes a two-layer demand response optimization framework for EV users and aggregators, leveraging large…
We consider a demand management problem of an energy community, in which several users obtain energy from an external organization such as an energy company, and pay for the energy according to pre-specified prices that consist of a…
We study the design of efficient mechanisms under asymmetric awareness and information. Unawareness refers to the lack of conception rather than the lack of information. Assuming quasi-linear utilities and private values, we show that we…