Related papers: Multi-Interval Rolling-Window Joint Dispatch and P…
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…
The expected increase in the penetration of renewables in the approaching decade urges the electricity market to introduce new products - in particular, flexible ramping products - to accommodate the renewables' variability and…
The increased market penetration of renewable energy sources and the rapid development of electric battery storage technologies yield a potential for reducing electricity price volatility while maintaining stability of the power grid. This…
The increasing penetration of Renewable Energy Sources (RES) requires more Flexibility Resources (FR), generally thermal units and storages, must be kept in the system to accommodate the uncertainties from RES. The challenge is how the…
Within the context of renewable energy communities, this paper focuses on optimal operation of producers equipped with energy storage systems in the presence of demand response. A novel strategy for optimal scheduling of the storage systems…
Renewable energy brings huge uncertainties to the power system, which challenges the traditional power system operation with limited flexible resources. One promising solution is to introduce dynamic pricing to more consumers, which, if…
Substantial changes in the generation portfolio take place due to the fast growth of renewable energy generation, of which the major types such as wind and solar power have significant forecast uncertainty. Reducing the impacts of…
The inherent storage of plug-in electric vehicles is likely to foster the integration of intermittent generation from renewable energy sources into existing power systems. In the present paper, we propose a three-stage scheme to the end of…
The rapid growth of variable renewable energy has increased the need for flexible and efficiently coordinated energy resources. In this context, hybrid resources that combine renewable generation and battery storage within a single…
Forecast reconciliation is considered an effective method to achieve coherence (within a forecast hierarchy) and to improve forecast quality. However, the value of reconciled forecasts in downstream decision-making tasks has been mostly…
In energy systems with high shares of weather-driven renewable power sources, gas-fired power plants can serve as a back-up technology to ensure security of supply and provide short-term flexibility. Therefore, a tighter coordination…
The presence of behind-the-meter rooftop photovoltaics and storage in the residential sector is poised to increase significantly. Here we quantify in detail the value of these technologies to consumers and service providers. We characterize…
We analyze the problem of a renewable generator who wants to sell its random generation in a two-stage market to a number of strategic, but flexible, load serving entities (LSEs). To offer an incentive to participate in the auction, the…
The demand response provides an opportunity for load serving entities (LSEs) that operate retail electricity markets (REMs) to strategically purchase energy and provide reserves in wholesale electricity markets (WEMs). This paper concerns…
This paper evaluates market equilibrium under different pricing mechanisms in a two-settlement 100%-renewables electricity market. Given general probability distributions of renewable energy, we establish game-theoretical models to analyze…
We study the price impact of storage facilities in electricity markets and analyze the long-term profitability of these facilities in prospective scenarios of energy transition. To this end, we begin by characterizing the optimal operating…
The inherent intermittency of renewable sources like wind and solar has resulted in a bundling of renewable generators with storage resources (batteries) for increased reliability. In this paper, we consider the problem of energy sharing…
To address the challenge of the renewable energy uncertainty, the ISO New England (ISO-NE) has proposed to apply do-not-exceed (DNE) limits, which represent the maximum nodal injection of renewable energy the grid can accommodate.…
Energy storage can absorb variability from the rising number of wind and solar power producers. Storage is different from the conventional generators that have traditionally balanced supply and demand on fast time scales due to its hard…
The supply of electrical energy is being increasingly sourced from renewable generation resources. The variability and uncertainty of renewable generation, compared to a dispatch-able plant, is a significant dissimilarity of concern to the…