Related papers: A WECC-based Model for Simulating Two-stage Market…
Renewable power sources have low marginal pro-duction costs, but may result in high balancing costs due to the inherent production uncertainty. Current day-ahead markets elicit only point production profiles and neglect the degree of…
Recent innovations in Information and Communication Technologies (ICT) provide new opportunities and challenges for integration of distributed energy resources (DERs) into the energy supply system as active market players. By increasing…
For the case of inflexible demand and considering network constraints, we introduce a Cost Minimisation (CM) based market clearing mechanism, and a model representing the standard Social Welfare Maximisation mechanism used in European Day…
Real-time hierarchical energy-sharing markets are promising to coordinate large numbers of prosumers. Still, most existing clearing methods rely on linearized or DC power-flow models and do not explicitly handle reactive power or…
The Western Electricity Coordinating Council (WECC) composite load model is a newly developed load model that has drawn great interest from the industry. To analyze its dynamic characteristics with both mathematical and engineering rigor, a…
We propose a general two-period model where electrical vehicles (EVs) can reserve charging sessions in the day-ahead market and swap them in the real-time market. Under the model, we explore several candidate mechanisms for running the two…
Electricity markets typically clear in two stages: a day-ahead market and a real-time market. In this paper, we propose market mechanisms for a two-stage multi-interval electricity market with energy storage, generators, and demand…
There is an intrinsic value in higher integration of multi-carrier energy systems (especially gas and electricity), to increase operational flexibility in the electricity system and to improve allocation of resources in gas and electricity…
Demand response involves system operators using incentives to modulate electricity consumption during peak hours or when faced with an incidental supply shortage. However, system operators typically have imperfect information about their…
The implementation of electricity markets based on locational marginal pricing in a multi-settlement process has allowed wholesale competition, with pricing mechanisms that incentivize the optimal allocation of generation, transmission, and…
We present new formulations of the stochastic electricity market clearing problem based on the principles of stochastic programming. Previous analyses have established that the canonical stochastic programming model effectively captures the…
We consider a two-stage market mechanism for trading electricity including renewable generation as an alternative to the widely used multi-settlement market structure. The two-stage market structure allows for recourse decisions by the…
Two-stage electricity market clearing is designed to maintain market efficiency under ideal conditions, e.g., perfect forecast and nonstrategic generation. This work demonstrates that the individual strategic behavior of inelastic load…
Two-stage robust unit commitment (RUC) models have been widely used for day-ahead energy and reserve scheduling under high renewable integration. The current state of the art relies on budget-constrained polyhedral uncertainty sets to…
This paper introduces an Electric Vehicle Charging Station (EVCS) model that incorporates real-world constraints, such as slot power limitations, contract threshold overruns penalties, or early disconnections of electric vehicles (EVs). We…
Energy storage can facilitate the integration of renewable energy resources by providing arbitrage and ancillary services. Jointly optimizing energy and ancillary services in a centralized electricity market reduces the system's operating…
This paper proposes a novel real-time algorithm for controlling wave energy converters (WECs). We begin with the economic model predictive control (MPC) problem formulation and apply a novel, first-order optimization algorithm inspired by…
We expand our novel computational method for unit commitment (UC) to include long-horizon planning. We introduce a fast novel algorithm to commit hydro-generators, provably accurately. We solve problems with thousands of generators at 5…
Power system security assessments, e.g. via cascading outage models, often use operational set-points based on optimal power flow (OPF) dispatch. However, driven by cost minimization, OPF provides an ideal, albeit unrealistic, clearing of…
With the increasing complexity of modern power systems, conventional dynamic load modeling with ZIP and induction motors (ZIP + IM) is no longer adequate to address the current load characteristic transitions. In recent years, the WECC…