Related papers: What may future electricity markets look like?
Sensor-driven systems are increasingly ubiquitous: they provide both data and information that can facilitate real-time decision-making and autonomous actuation, as well as enabling informed policy choices by service providers and…
Sensing and measurement systems are quintessential to the safe and reliable operation of electric power grids. Their strategic placement is of ultimate importance because it is not economically viable to install measurement systems on every…
Uncertainty in the output power of large-scale wind power plants (WPPs) can face the electricity market players with undesirable profit variations. Market players can hedge themselves against these risks by participating in forward…
Over the past decade, extreme weather events have significantly increased worldwide, leading to widespread power outages and blackouts. As these threats continue to challenge power distribution systems, the importance of mitigating the…
Probabilistic forecasting in combination with stochastic programming is a key tool for handling the growing uncertainties in future energy systems. Derived from a general stochastic programming formulation for the optimal scheduling and…
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…
To enhance decarbonization efforts in electric power systems, we propose a novel electricity market clearing model that internalizes the allocation of emissions from generations to loads and allows for consideration of consumer-side carbon…
The increased need for reliable, resilient, and high quality power combined with a falling cost of distributed generation technologies has resulted in a rapid growth of microgrid in power systems. Although providing multitude of benefits,…
The energy market, and specifically the renewable sector carries volatility and risks, similar to the financial market. Here, we leverage on a well-established, return-risk approach, commonly used by equity portfolio-managers and apply it…
The authors of the study conduct a legal analysis of the concept of energy security. Energy is vital for sustainable development, and sustainability is not only at the heart of development, but also economic, environmental, social and…
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…
Future electricity distribution grids will host a considerable share of variable renewable energy sources and local storage resources. Moreover, they will face new load structures due for example to the growth of the electric vehicle…
This exhaustive investigation is dedicated to delving into the intricate legal aspects that underlie the inefficiency in the advancement and utilization of sustainable energies, with a primary focus on the dynamic landscape of China and…
Electricity price forecasting is an essential task in all the deregulated markets of the world. The accurate prediction of the day-ahead electricity prices is an active research field and available data from various markets can be used as…
Electrical infrastructures provide services at the basis of a number of application sectors, several of which are critical from the perspective of human life, environment or financials. Following the increasing trend in electricity…
Advancements in digital technologies have a bootstrapping effect. The past fifty years of technological innovations from the computer architecture community have brought innovations and orders-of-magnitude efficiency improvements that…
The integration of more renewable energy sources into the power system is presenting system operators with various challenges. At the distribution system level, voltage magnitudes that violate operating limits near large photovoltaic…
The paper argues that attracting more economists and adopting a more-precise definition of dynamic complexity might help econophysics acquire more attention in the economics community and bring new lymph to economic research. It may be…
For more than a century, the grid has operated in a centralized top-down fashion. However, as distributed energy resources (DERs) penetration grows, the grid edge is increasingly infused with intelligent computing and communication…
Electrical power systems are increasing in size, complexity, as well as dynamics due to the growing integration of renewable energy resources, which have sporadic power generation. This necessitates the development of near real-time power…