Related papers: Chance-Constrained Economic Dispatch with Flexible…
The penetration of distributed renewable energy (DRE) greatly raises the risk of distribution network operation such as peak shaving and voltage stability. Battery energy storage (BES) has been widely accepted as the most potential…
Quantity and price risks are key uncertainties market participants face in electricity markets with increased volatility, for instance, due to high shares of renewables. From day ahead until real-time, there is a large variation in the best…
This paper presents a framework to solve the strategic bidding problem of participants in an electricity market cleared by employing the full AC Optimal Power Flow (ACOPF) problem formulation. Traditionally, the independent system operators…
Renewable energy has attracted significant attention over the last decade, conceivably due to its environmental benefits and the recent drops in the development and deployment cost of the technology. The increase in renewable generation,…
In this paper, we examine in an abstract framework, how a tradeoff between efficiency and robustness arises in different dynamic oligopolistic market architectures. We consider a market in which there is a monopolistic resource provider and…
The integration of renewable generation poses operational and economic challenges for the electricity grid. For the core problem of power balance, the legacy paradigm of tailoring supply to follow random demand may be inappropriate under…
Market-based coordination of demand side assets has gained great interests in recent years. In spite of its efficiency, there is a risk that the interaction between the dynamic assets through the price signal could result in an unstable…
This paper proposes a detailed optimal scheduling model of an exemplar multi-energy system comprising combined cycle power plants (CCPPs), battery energy storage systems, renewable energy sources, boilers, thermal energy storage…
Mobile energy storage systems (MESSs) provide mobility and flexibility to enhance distribution system resilience. The paper proposes a Markov decision process (MDP) formulation for an integrated service restoration strategy that coordinates…
Optimal distribution of power among generating units to meet a specific demand subject to system constraints is an ongoing research topic in the power system community. The problem, even in a static setting, turns out to be hard to solve…
This research proposes an incremental welfare consensus method based on flexible alternating current transmission systems (FACTS) and demand response (DR) programs to control transmission network congestion in order to increase the…
For market-based procurement of low voltage (LV) flexibility, DSOs identify the amount of flexibility needed for resolving probable distribution network (DN) voltage and thermal congestion. A framework is required to avoid over or under…
This paper proposes a novel continuous Local Flexibility Market where active power flexibility located in the distribution system can be traded. The market design engages the Market Operator, the Distribution System Operator and Market…
Flexible load at the demand-side has been regarded as an effective measure to cope with volatile distributed renewable generations. To unlock the demand-side flexibility, this paper proposes a peer-to-peer energy sharing mechanism that…
Battery energy storage systems BESSs can provide fast frequency reserves and energy arbitrage in Nordic electricity markets but their limited energy capacity requires accurate revenue forecasts and coordinated bidding across multiple…
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…
The limited capacity of distribution grids for hosting renewable generation is one of the main challenges towards the energy transition. Local energy markets, enabling direct exchange of energy between prosumers, help to integrate the…
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…
Integrating renewable energy into the modern power grid requires risk-cognizant dispatch of resources to account for the stochastic availability of renewables. Toward this goal, day-ahead stochastic market clearing with high-penetration…
The natural gas and electricity systems are now becoming more and more strongly coupled. While gas-fired units (GFUs) are replacing the retired coal plants, the power systems are also increasingly dependent on the flexibilities provided by…