Related papers: AC-feasible Local Flexibility Market with Continuo…
We analyze the efficiency of markets with friction, particularly power markets. We model the market as a dynamic system with $(d_t;\,t\geq 0)$ the demand process and $(s_t;\,t\geq 0)$ the supply process. Using stochastic differential…
As pressures to decarbonize the electricity grid increase, the grid edge is witnessing a rapid adoption of distributed and renewable generation. As a result, traditional methods for reactive power management and compensation may become…
Transactive or market-based coordination strategies have recently been proposed for controlling the aggregate demand of a large number of electric loads. Such schemes offer operational benefits such as enforcing distribution feeder capacity…
With a large-scale integration of distributed energy resources (DERs), distribution systems are expected to be capable of providing capacity support for the transmission grid. To effectively harness the collective flexibility from massive…
With the rapid development of distributed energy resources, increasing number of residential and commercial users have been switched from pure electricity consumers to prosumers that can both consume and produce energy. To properly manage…
The electricity market, which was initially designed for dispatchable power plants and inflexible demand, is being increasingly challenged by new trends, such as the high penetration of intermittent renewables and the transformation of the…
Tie-line scheduling in multi-area power systems in the US largely proceeds through a market-based mechanism called Coordinated Transaction Scheduling (CTS). We analyze this market mechanism through a game-theoretic lens. Our analysis…
The growing penetration of renewable energy requires upgrades to the transmission network to ensure the deliverability of renewable generation. As an efficient alternative to transmission expansion, flexible transmission technologies, whose…
As the number of prosumers with distributed energy resources (DERs) grows, the conventional centralized operation scheme may suffer from conflicting interests, privacy concerns, and incentive inadequacy. In this paper, we propose an energy…
This paper focuses on the operation of an electricity market that accounts for participants that bid at a sub-minute timescale. To that end, we model the market-clearing process as a dynamical system, called market dynamics, which is…
This paper studies the applicability of peer-to-peer (P2P) energy trading in a grid-tied network. The main objectives are to understand the impact of the financial P2P energy trading on the network operation, and thus demonstrate the…
The capacity market, a marketplace to exchange available generation capacity for electricity production, provides a major revenue stream for generators and is adopted in several U.S. regions. A subject of ongoing debate, the capacity market…
The growing proliferation of microgrids and distributed energy resources in distribution networks has resulted in the development of Distribution Market Operator (DMO). This new entity will facilitate the management of the distributed…
The energetic flexibility of electric energy resources can be exploited when trading on wholesale energy and ancillary service markets. This paper considers the problem of a Balance Responsible Party to maximize its profit from trading on…
Local electricity markets offer a promising solution for integrating renewable energy sources and other distributed energy resources (DERs) into distribution networks. These markets enable the effective utilization of flexible resources by…
Increasing penetrations of distributed energy resources (DERs) and responsive loads (RLs) in the electric power distribution systems calls for a mechanism for joint supply-demand coordination. Recently, several transactive/bilateral…
Considering that the existing setup of the European electricity markets promotes the spatial coordination of neighbouring power systems only on the day-ahead market stage, regional system operators have to rely mainly on their internal…
The authors provide a comprehensive overview of flexibility characterization along the dimensions of time, spatiality, resource, and risk in power systems. These dimensions are discussed in relation to flexibility assets, products, and…
We propose using a hierarchical retail market structure to alert and dispatch resources to mitigate cyber-physical attacks on a distribution grid. We simulate attacks where a number of generation nodes in a distribution grid are attacked.…
This paper proposes a new combinatorial auction framework for local energy flexibility markets, which addresses the issue of prosumers' inability to bundle multiple flexibility time intervals. To solve the underlying NP-complete winner…