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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…
We show a methodology for the computation of the probability of deadline miss for a periodic real-time task scheduled by a resource reservation algorithm. We propose a modelling technique for the system that reduces the computation of such…
Gas-fired generators, with their ability to quickly ramp up and down their electricity production, play an important role in managing renewable energy variability. However, these changes in electricity production translate into variability…
With information revolution, increased globalization and competition, supply chain has become longer and more complicated than ever before. These developments bring supply chain management to the forefront of the managements attention.…
Hosting capacity (HC) assessment for electric vehicles (EVs) is crucial for EV secure integration and reliable power system operation. Existing methods primarily focus on a long-term perspective (e.g., system planning), and consider the EV…
This paper addresses the real-time energy dispatch of a hybrid system comprising cascaded hydropower plants, wind, and solar units, jointly participating in the day-ahead energy market under inflow, renewable generation, and price…
Security-Constrained Unit Commitment (SCUC) is a fundamental problem in power systems and electricity markets. In practical settings, SCUC is repeatedly solved via Mixed-Integer Linear Programming, sometimes multiple times per day, with…
The problem of pricing utility-scale energy storage resources (ESRs) in the real-time electricity market is considered. Under a rolling-window dispatch model where the operator centrally dispatches generation and consumption under…
The joint management of heat and power systems is believed to be key to the integration of renewables into energy systems with a large penetration of district heating. Determining the day-ahead unit commitment and production schedules for…
With the increasing integration of power plants into the frequency-regulation markets, the importance of optimal trading has grown substantially. This paper conducts an in-depth analysis of their optimal trading behavior in sequential…
This paper proposes a Clustered Unit Commitment (CUC) formulation to accurately model flexibility requirements such as ramping, reserve, and startup/shutdown constraints. The CUC is commonly applied in large and long-term planning models to…
Increasing penetration of renewable energy sources (RES) and electrification of energy systems necessitates the engagement of demand-side management (DSM) to help alleviate congestion in electricity grid. Heat pump and thermal energy…
Transitioning to renewable power generation is often difficult for remote or isolated communities, due to generation intermittency and high cost barriers. Our paper presents a simulation-based optimization approach for the design of policy…
Due to the new carbon neutral policies, many district heating operators start operating their combined heat and power (CHP) plants using different types of biomass instead of fossil fuel. The contracts with the biomass suppliers are…
Constant product markets with concentrated liquidity (CL) are the most popular type of automated market makers. In this paper, we characterise the continuous-time wealth dynamics of strategic LPs who dynamically adjust their range of…
Volatile electrical energy prices are a challenge and an opportunity for small and medium-size companies in energy-intensive industries. By using electrical energy storage and/or an adaptation of production processes, companies can…
As net-load becomes less predictable there is a lot of pressure in changing decision models for power markets such that they account explicitly for future scenarios in making commitment decisions. This paper proposes to make commitment…
Contemporary industrial parks are challenged by the growing concerns about high cost and low efficiency of energy supply. Moreover, in the case of uncertain supply/demand, how to mobilize delay-tolerant elastic loads and compensate…
Over the past decade, the rapid adoption of intermittent renewable energy sources (RES), especially wind and solar generation, has posed challenges in managing real-time uncertainty and variability. In the U.S., Independent System Operators…
In this paper we present a framework for risk-sensitive model predictive control (MPC) of linear systems affected by stochastic multiplicative uncertainty. Our key innovation is to consider a time-consistent, dynamic risk evaluation of the…