Related papers: Chance-Constrained Economic Dispatch with Flexible…
Electrified heating systems with thermal storage, such as electric boilers and heat pumps, represent a major source of demand-side flexibility. Under current electricity market designs, balance responsible parties (BRPs) operating such…
Since the 1990s, widespread introduction of central (wholesale) electricity markets has been seen across multiple continents, driven by the search for efficient operation of the power grid through competition. The increase of renewables has…
Multi-energy microgrid (MEMG) offers an effective approach to deal with energy demand diversification and new energy consumption on the consumer side. In MEMG, it is critical to deploy an energy management system (EMS) for efficient…
In recent years, there has been a significant focus on advancing the next generation of power systems. Despite these efforts, persistent challenges revolve around addressing the operational impact of uncertainty on predicted data,…
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 growing proliferation of microgrids and distributed energy resources in distribution networks has resulted in the development of Distribution Market Operator (DMO). This new entity will facilitate the management of the distributed…
The increase in renewable energy sources (RESs), like wind or solar power, results in growinguncertainty also in transmission grids. This affects grid stability through fluctuating energy supplyand an increased probability of overloaded…
A coordinated trading process is proposed as a design for an electricity market with significant uncertainty, perhaps from renewables. In this process, groups of agents propose to the system operator (SO) a contingent buy and sell trade…
In this article we propose a multi-zonal integrated energy-reserve market model. We assume that bidders may submit their demand and supply bids on the one hand in the form of conventional hourly step bids and block bids, which are cleared…
Uncertainty in the output power of large-scale wind power plants (WPPs) can face the electricity market players with undesirable profit variations. Market players can hedge themselves against these risks by participating in forward…
In electricity networks with high penetration levels of renewable resources, Flexible Ramping Products (FRPs) are among the utilized measures for dealing with the potential fluctuations in the net demand. This paper investigates the impacts…
High penetrations of intermittent renewable energy resources in the power system require large balancing reserves for reliable operations. Aggregated and coordinated behind-the-meter loads can provide these fast reserves, but represent…
In this work, we present a detailed model of a Renewable Energy Source (RES)-based Virtual Power Plant (VPP) that participates in Day-Ahead Market (DAM) and Intra-Day Market (IDM) with dispatchable and non-dispatchable RESs and flexible…
In order to deal with market power that sporadically results from contingencies (e.g., severe weather, plant outages) most electricity markets have institutions in charge of monitoring market performance and mitigating market power. The…
Renewable distributed energy resources (DERs) have the potential to provide multi-location electricity consumers (MLECs) with electricity at prices lower than those offered by the grid using behind-the-meter advantages. This study examines…
A high number of electric vehicles (EVs) in the transportation sector necessitates an advanced scheduling framework for e-mobility ecosystem operation as a whole in order to overcome range anxiety and create a viable business model for…
The concept of Energy Hub (EH) has been emerged to accommodate renewable energy sources in a multi-energy system to deploy the synergies between electricity and other energy sources. However, the market mechanisms for the integration of the…
Increasing wind turbines (WT) penetration and low carbon demand can potentially lead to two different flow peaks, generation and load, within distribution networks. This will not only constrain WT penetration but also pose serious threats…
A distributed, hierarchical, market based approach is introduced to solve the economic dispatch problem. The approach requires only a minimal amount of information to be shared between a central market operator and the end-users. Price…
A Markov decision process (MDP) framework is adopted to represent ensemble control of devices with cyclic energy consumption patterns, e.g., thermostatically controlled loads. Specifically we utilize and develop the class of MDP models…