Related papers: Locational Marginal Prices Obey DC Circuit Laws
Pricing multi-interval economic dispatch of electric power under operational uncertainty is considered in this two-part paper. Part I investigates dispatch-following incentives of profit-maximizing generators and shows that, under mild…
This two-part paper considers the day-ahead operational planning problem of a radial distribution network hosting Distributed Energy Resources (DERs), such as Solar Photovoltaic (PV) and Electric Vehicles (EVs). In Part I, we develop a…
This paper considers the day-ahead operational planning problem of radial distribution networks hosting Distributed Energy Resources, such as Solar Photovoltaic (PV) and Electric Vehicles (EVs). We present an enhanced AC Optimal Power Flow…
The Optimal Power Flow (OPF) problem is a fundamental building block for the optimization of electrical power systems. It is nonlinear and nonconvex and computes the generator setpoints for power and voltage, given a set of load demands. It…
The increasing penetration of variable renewable energy and flexible demand technologies, such as electric vehicles and heat pumps, introduces significant uncertainty in power systems, resulting in greater imbalance; defined as the…
Modern market management systems continue to evolve due to the intentions to improve system security and reliability. This evolvement has been leading to a transition of market auction models from a deterministic structure with…
The problem of dynamic pricing of electricity in a retail market is considered. A Stackelberg game is used to model interactions between a retailer and its customers; the retailer sets the day-ahead hourly price of electricity and consumers…
Interconnecting price zones and remote renewable energy sources has emerged as a key solution to achieving climate goals. The objective of this work is to present a formulation that extends the base optimal power flow model with price zones…
This paper analyzes stability conditions for wholesale electricity markets under real-time retail pricing and realistic consumption models with memory, which explicitly take into account previous electricity prices and consumption levels.…
Direct-current microgrids (DC-MGs) can operate in either grid-connected or stand-alone mode. In particular, stand-alone DC-MG has many distinct applications. However, the optimal power flow problem of a stand-alone DC-MG is inherently…
Nonconvexities in markets with discrete decisions and nonlinear constraints make efficient pricing challenging, often necessitating subsidies. A prime example is the unit commitment (UC) problem in electricity markets, where costly…
This two-part paper considers the day-ahead operational planning problem of a radial distribution network hosting Distributed Energy Resources (DERs) including Solar Photovoltaic (PV) and storage-like loads such as Electric Vehicles (EVs).…
Networked systems that occur in various domains, such as the power grid, the brain, and opinion networks, are known to obey conservation laws. For instance, electric networks obey Kirchoff's laws, and social networks display opinion…
Nothing has done more to empower the free market, enterprise, and meritocracy than the spread of electricity and power to everyone. The power system has been the precursor to the greatest period of innovation in our history and has meant…
Large, spatially flexible electricity consumers such as data centers can reallocate demand across locations, influencing dispatch and prices in wholesale electricity markets. While flexible load is often assumed to improve system…
We address the need for forecasting methodologies that handle large uncertainties in electricity prices for continuous intraday markets by incorporating parameter uncertainty and using a broad set of covariables. This study presents the…
Direct current (DC) circuits are usually taught in upper-level physics curricula, and Kirchhoff's laws are stated and used to solve the steady-state currents. However, students are not often introduced to alternative techniques, such as…
Pricing storage operation in the real-time market under demand and generation stochasticities is considered. A scenario-based stochastic rolling-window dispatch model is formulated for the real-time market, consisting of conventional…
Market power behaviour often occurs in modern wholesale electricity markets. Mixed Complementarity Problems (MCPs) have been typically used for computational modelling of market power when it is characterised by an oligopoly with…
Several approaches have been proposed to forecast day-ahead locational marginal price (daLMP) in deregulated energy markets. The rise of deep learning has motivated its use in energy price forecasts but most deep learning approaches fail to…