Related papers: Signalling for Electricity Demand Response: When i…
As the share of renewable energy sources in the present electric energy mix rises, their intermittence proves to be the biggest challenge to carbon free electricity generation. To address this challenge, we propose an electricity pricing…
In persuasion problems where the receiver's action is one-dimensional and his utility is single-peaked, optimal signals are characterized by duality, based on a first-order approach to the receiver's problem. A signal is optimal iff the…
This paper brings the novel idea of paying the utility to the winning agents in terms of some physical entity in cooperative communications. Our setting is a secret two-way communication channel where two transmitters exchange information…
In electricity markets, retailers or brokers want to maximize profits by allocating tariff profiles to end consumers. One of the objectives of such demand response management is to incentivize the consumers to adjust their consumption so…
Common sense suggests that when individuals explain why they believe something, we can arrive at more accurate conclusions than when they simply state what they believe. Yet, there is no known mechanism that provides incentives to elicit…
We consider general Bayesian persuasion problems where the receiver's utility is single-peaked in a one-dimensional action. We show that a signal that pools at most two states in each realization is always optimal, and that such pairwise…
Demand-side management (DSM) enables distribution system operators (DSOs) to steer electricity consumption through dynamic price signals or incentive mechanisms, thereby leveraging end-users' flexibility potential for delivering grid…
In this paper, we study the price responsiveness of electricity consumption from empirical commercial and industrial load data obtained from Texas. Employing a dynamical system perspective, we show that price responsive demand can be…
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…
A rational behavior of a consumer is analyzed when the user participates in a Peak Time Rebate (PTR) mechanism, which is a demand response (DR) incentive program based on a baseline. A multi-stage stochastic programming is proposed from the…
As electricity consumption grows, reducing peak demand--the maximum load on the grid--has become critical for preventing infrastructure strain and blackouts. Pricing mechanisms that incentivize consumers with flexible loads to shift…
Accurate day-ahead electricity price forecasting is essential for residential welfare, yet current methods often fall short in forecast accuracy. We observe that commonly used time series models struggle to utilize the prior correlation…
The conventional practice of retail electric utilities is to aggregate customers geographically. The utility purchases electricity for its customers via bulk transactions on the wholesale market, and it passes these costs along to its…
Energy markets exhibit complex causal relationships between weather patterns, generation technologies, and price formation, with regime changes occurring continuously rather than at discrete break points. Current approaches model…
For a simple model of price-responsive demand, we consider a deregulated electricity marketplace wherein the grid (ISO, retailer-distributor) accepts bids per-unit supply from generators (simplified herein neither to consider…
Our paper aims to model and forecast the electricity price by taking a completely new perspective on the data. It will be the first approach which is able to combine the insights of market structure models with extensive and modern…
A network of agents attempt to learn some unknown state of the world drawn by nature from a finite set. Agents observe private signals conditioned on the true state, and form beliefs about the unknown state accordingly. Each agent may face…
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…
In an electric power system, demand fluctuations may result in significant ancillary cost to suppliers. Furthermore, in the near future, deep penetration of volatile renewable electricity generation is expected to exacerbate the variability…
We describe a pricing structure for the provision of IT services that ensures trust without requiring repeated interactions between service providers and users. It does so by offering a pricing structure that elicits truthful reporting of…