Related papers: AC-feasible Local Flexibility Market with Continuo…
Tradable mobility credit (TMC) schemes are an approach to travel demand management that have received significant attention in recent years. This paper proposes and analyzes alternative market models for a TMC system -- focusing on market…
The recent research report of U.S. Department of Energy prompts us to re-examine the pricing theories applied in electricity market design. The theory of spot pricing is the basis of electricity market design in many countries, but it has…
We propose a hierarchical local electricity market (LEM) at the primary and secondary feeder levels in a distribution grid, to optimally coordinate and schedule distributed energy resources (DER) and provide valuable grid services like…
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…
We consider the problem of dispatching a fleet of heterogeneous energy storage units to provide grid support. Under the restriction that recharging is not possible during the time frame of interest, we develop an aggregate measure of fleet…
Managing and unlocking the flexibility hidden in electric vehicles (EVs) has emerged as a critical yet challenging task towards low-carbon power and energy systems. This paper focuses on the online bidding and dispatch strategies for an EV…
The integration of renewable sources poses challenges at the operational and economic levels of the power grid. In terms of keeping the balance between supply and demand, the usual scheme of supply following load may not be appropriate for…
We propose and analyze a day-ahead reserve market model that handles bids from flexible loads. This pool market model takes into account the fact that a load modulation in one direction must usually be compensated later by a modulation of…
In the restructured electricity industry, electricity pooling markets are an oligopoly with strategic producers possessing private information (private production cost function). We focus on pooling markets where aggregate demand is…
We propose a financial liquidity policy sharing method for firm-to-firm supply networks, introducing a scalable autonomous control function for viable complex adaptive supply networks. Cooperation and competition in supply chains is…
The objective of this paper is to initiate a qualitative analysis of dynamic flow in traffic networks by using the competitive equilibrium model of multiple market systems. A network is modeled as a dynamic graph where routes (edges) are…
Rapid growth in AI-driven data center loads is creating significant challenges for transmission grid interconnection. This paper proposes robust and risk-aware frameworks to quantify transmission capacity as firm and flexible capacities. We…
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…
The integration of renewable generation poses operational and economic challenges for the electricity grid. For the core problem of power balance, the legacy paradigm of tailoring supply to follow random demand may be inappropriate under…
In this article we propose a multi-zonal integrated energy-reserve market model. We assume that bidders may submit their demand and supply bids on the one hand in the form of conventional hourly step bids and block bids, which are cleared…
Electricity markets are experiencing a rapid increase in energy storage unit participation. Unlike conventional generation resources, quantifying the competitive operation and identifying if a storage unit is exercising market power is…
This paper presents a parametric quadratic approximation of the AC optimal power flow (AC-OPF) problem for time-sensitive and market-based applications. The parametric approximation preserves the physics-based but simple representation…
Less than truckload shipping plays a critical role in modern supply chains by consolidating freight from multiple shippers into shared vehicles. Despite its operational flexibility and potential sustainability benefits, the LTL sector faces…
Regarding the pervasive application of information and telecommunication technologies in the power distribution industry, responsive loads (RLs) have been widely employed in the operation of distribution and transmission systems. The…
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…