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This paper proposes a novel approach for optimal energy and reserve scheduling of wind farms by explicitly modelling wake interactions to enhance market participation and operational efficiency. Conventional methods often neglect wake…
The emerging paradigm of interconnected microgrids advocates energy trading or sharing among multiple microgrids. It helps make full use of the temporal availability of energy and diversity in operational costs when meeting various energy…
As load varies continuously over time, it is essential to provide continuous-time price signals that accurately reflect supply-demand balance. However, conventional discrete-time economic dispatch fails to capture the intra-temporal…
Energy storage technologies are key to improving grid flexibility in the presence of increasing amounts of intermittent renewable generation. We propose an insurance contract that suitably compensates energy storage systems for providing…
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 a dynamic distribution market environment, residential prosumers with solar power generation and battery energy storage devices can flexibly interact with the power grid via power exchange. Providing a schedule of this bidirectional…
At present, electricity markets largely ignore the fact that renewable power producers impose significant externalities on non-renewable energy producers. This is because consumers are generally guaranteed electricity within certain load…
Short term load forecasting has an essential medium for the reliable, economical and efficient operation of the power system. Most of the existing forecasting approaches utilize fixed statistical models with large historical data for…
With the fast growth of wind power penetration, power systems need additional flexibility to cope with wind power ramping. Several electricity markets have established requirements for flexible ramping capacity (FRC) reserves. This paper…
The rapid growth of weather-dependent renewable generation increases price volatility and imbalance penalty risk in power markets, creating the need for advanced quantitative trading strategies. We develop a data-driven continuous-time…
Uncertainty levels in forecasting of renewable generation and demand are known to affect the amount of reserve required to operate the power grid with a given level of reliability. In this paper, we quantify the effects on the system…
There are two major ways of selling impressions in display advertising. They are either sold in spot through auction mechanisms or in advance via guaranteed contracts. The former has achieved a significant automation via real-time bidding…
Intermittent renewable energies are increasingly dominating electricity grids and are forecasted to be the main force driving out fossil fuels from the grid in most major economies until 2040. However, grids based on intermittent renewables…
In this paper we formulate of the Economic Dispatch (ED) problem in Power Systems in continuous time and include in it ramping constraints to derive an expression of the price that reflects some important inter-temporal constraints of the…
Deploying distributed renewable energy at the demand side is an important measure to implement a sustainable society. However, the massive small solar and wind generation units are beyond the control of a central operator. To encourage…
The centralized power generation infrastructure that defines the North American electric grid is slowly moving to the distributed architecture due to the explosion in use of renewable generation and distributed energy resources (DERs), such…
Efforts to ensure reliable operation of existing low-voltage distribution systems with high photovoltaic (PV) generation have focused on the possibility of inverters providing ancillary services such as active power curtailment and reactive…
The issues of uncertainty and frequency security could become significantly serious in power systems with the high penetration of volatile inverter-based renewables (IBRs). These issues make it necessary to consider the uncertainty and…
With the increasing penetration of intermittent renewable energy sources (RESs), it becomes increasingly challenging to maintain the supply-demand balance of power systems by solely relying on the generation side. To combat the volatility…
This paper focuses on the problem of energy imbalance management in amicrogrid. The problem is investigated from the power market perspective. Unlike the traditional power grid, a microgrid can obtain extra energy froma renewable energy…