Related papers: What may future electricity markets look like?
The global race to artificial intelligence competitive advantage is challenging electricity grids by demanding growing data center capacity. Addressing this challenge requires synergistic operational strategies that integrate data centers…
This paper studies how to aggregate prosumers (or large consumers) and their collective decisions in electricity markets, with a focus on fairness. Fairness is essential for prosumers to participate in aggregation schemes. Some prosumers…
The automotive industry is currently undergoing major changes. These include a general shift towards decarbonised mode of transportation, the implementation of mobility as an end-to-end service, and the transition to vehicles that…
The price of electricity is far more volatile than that of other commodities normally noted for extreme volatility. Demand and supply are balanced on a knife-edge because electric power cannot be economically stored, end user demand is…
The accurate prediction of short-term electricity prices is vital for effective trading strategies, power plant scheduling, profit maximisation and efficient system operation. However, uncertainties in supply and demand make 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…
With the rapid growth of renewable energy resources, the energy trading began to shift from centralized to distributed manner. Blockchain, as a distributed public ledger technology, has been widely adopted to design new energy trading…
Liberalized electricity markets often include resource adequacy mechanisms that require consumers to contract with generation resources well in advance of real-time operations. While administratively defined mechanisms have most commonly…
Electric Vehicles (EVs), as their penetration increases, are not only challenging the sustainability of the power grid, but also stimulating and promoting its upgrading. Indeed, EVs can actively reinforce the development of the Smart Grid…
In this paper, we propose a model of decentralized energy storages, who serve as instruments to shift energy supply intertemporally. From storages' perspective, we investigate their optimal buying or selling decisions under market…
With the advancement of the smart grid, the current energy system is moving towards a future where people can buy what they need, sell when they have excess, and can trade the right of buying to other prosumers. While the first two schemes…
Electricity market operators worldwide use mixed-integer linear programming to solve the allocation problem in wholesale electricity markets. Prices are typically determined based on the duals of relaxed versions of this optimization…
Adding renewable energy sources and storage units to an electric grid has led to a change in the way energy is generated and billed. This shift cannot be managed without a unified view of energy systems and their components. This unified…
Renewable electricity generation has grown significantly across many European power systems, leading to a greener energy mix, but also additional complexity in balancing electricity supply and demand. Unexpected differences between…
Despite extensive research in the past five years and several successfully completed and on-going pilot projects, regulators are still reluctant to implement peer-to-peer trading at a large-scale in today's electricity market. The reason…
In electricity markets with a dual-pricing scheme for balancing energy, controllable production units typically participate in the balancing market as "active" actors by offering regulating energy to the system, while renewable stochastic…
We investigate the problem of market mechanism design for wind energy. We consider a dynamic two-step model with one strategic seller with wind generation and one buyer, who trade energy through a mechanism determined by a designer. The…
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…
The Smart Grid (SG) concept presented an unprecedented opportunity to move the energy sector to more availability, reliability, and efficiency to improve our economic and environmental conditions. Renewable energy sources (Solar & Wind) are…
To the best of our knowledge, this paper proposes for the first time a design of a continuous local flexibility market that explicitly considers network constraints. Continuous markets are expected to be the most appropriate design option…