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As the penetration of variable renewable powergeneration increases in power systems around the world, systemsecurity is challenged. Ensuring that enough reserve capacity isavailable to balance the increased forecast errors introduced bywind…
The availability of accurate day-ahead electricity price forecasts is pivotal for electricity market participants. In the context of trade liberalisation and market harmonisation in the European markets, accurate price forecasting becomes…
Increased share of renewable sources of energy in a power grid leads to larger deviations in grid frequency from the nominal value resulting in more challenging control and its modelling. In this paper we focus on the grid frequency for the…
Financial markets are often modelled as if time were unique and continuous across assets and markets. Financial markets are however asynchronous, order flow is event-driven, and waiting times between events are often random. Many of the…
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…
Modelling, forecasting and overall understanding of the dynamics of the power grid and its frequency are essential for the safe operation of existing and future power grids. Much previous research was focused on large continental areas,…
The growing amount of fluctuating renewable infeeds and market liberalization increases uncertainty in power system operation. To capture the influence of fluctuations in operational planning, we model the forecast errors of the uncertain…
This paper focuses on the operation of an electricity market that accounts for participants that bid at a sub-minute timescale. To that end, we model the market-clearing process as a dynamical system, called market dynamics, which is…
As the role of variable renewables in electricity markets expands, new market products help system operators manage imbalances caused by uncertainty and variability. Whereas work in the last decade has focused on constructing demand curves…
Transmission System Operators (TSOs) rely on balancing energy provided by Balancing Service Providers (BSPs) to maintain the supply-demand balance in real time. Balance Responsible Parties (BRPs) can simultaneously deviate from their…
This paper addresses the distributed frequency control problem in a multi-area power system taking into account of unknown time-varying power imbalance. Particularly, fast controllable loads are utilized to restore system frequency under…
How does dynamic price information flow among Northern European electricity spot prices and prices of major electricity generation fuel sources? We use time series models combined with new advances in causal inference to answer these…
With some of the world's most ambitious renewable energy (RE) growth targets, especially when normalized for scale, India aims more than quadrupling wind and solar by 2030. Simultaneously, coal dominates the electricity grid, providing…
The power grid frequency is the central observable in power system control, as it measures the balance of electrical supply and demand. A reliable frequency forecast can facilitate rapid control actions and may thus greatly improve power…
As consumer flexibility becomes expected, it is important that the market mechanisms which attain that flexibility are perceived as fair. We set out fairness issues in energy markets today, and propose a market design to address them.…
The continuous introduction of renewable electricity and increased consumption through electrification of the transport and heating sector challenges grid stability. This study investigates load shifting through demand side management as a…
Active power control regulates the total power generated by wind farms with the power consumed on the electricity grid. Due to wake effects, the available power is reduced and turbulence is increased at downstream wind turbines. Such…
Studies looking at electricity market designs for very high shares of wind and solar often conclude that the energy-only market will break down. Without fuel costs, it is said that there is nothing to set prices. Symptoms of breakdown…
Power system coherency refers to the phenomenon that machines in a power network exhibit similar frequency responses after disturbances, and is foundational for model reduction and control design. Despite abundant empirical observations,…
When the traded energy and reserve products between zones are co-allocated to optimize the infrastructure usage, both deterministic and stochastic flows have to be accounted for on interconnector lines. We focus on allocation models, which…