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We study dynamic mechanism design in a pure-exchange economy with privately observed idiosyncratic income. In the standard infinitely lived hidden-income benchmark of Green (1987) and Thomas-Worrall (1990), constrained-efficient allocations…
This paper studies the problem of stochastic dynamic pricing and energy management policy for electric vehicle (EV) charging service providers. In the presence of renewable energy integration and energy storage system, EV charging service…
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…
Traditionally, power system's inertia has been estimated according to the rotating masses directly connected to the grid. However, a new generation mix scenario is currently identified, where conventional supply-side is gradually replaced…
Incentivizing flexible consumption of end-users is key to maximizing the value of local exchanges within Renewable Energy Communities. If centralized coordination for flexible resources planning raises concerns regarding data privacy and…
A two-stage multi-period mixed-integer linear stochastic programming model is proposed to assist qualified operators in long-term generation and transmission expansion planning of electricity and gas systems to meet policy objectives. The…
Owing to the potential higher energy supply efficiency and operation flexibility, integrated energy system (IES), which usually includes electric power, gas and heating/cooling systems, is considered as one of the primary forms of energy…
Rising electricity demand underscores the need for secure and reliable generation expansion planning that accounts for upstream supply chain constraints. Traditional models often overlook limitations in materials, manufacturing capacity,…
Higher shares of electricity generation from renewable energy sources and market liberalization is increasing uncertainty in power systems operation. At the same time, operation is becoming more flexible with improved control systems and…
We propose a new Robust Optimization method for the energy offering problem of a price-taker generating company that wants to build offering curves for its generation units, in order to maximize its profit while taking into account the…
As we replace conventional synchronous generators with renewable energy, the frequency security of power systems is at higher risk. This calls for a more careful consideration of unit commitment (UC) and primary frequency response (PFR)…
Distribution locational marginal prices (DLMPs) facilitate the efficient operation of low-voltage electric power distribution systems. We propose an approach to internalize the stochasticity of renewable distributed energy resources (DERs)…
To enhance the reliability of Integrated Energy Systems (IESs) and address the research gap in reliability-based planning methods, this paper proposes a two-stage robust planning model specifically for park-level IESs. The proposed planning…
As more and more renewable intermittent generations are being connected to the distribution grid, the grid operators require more flexibility to maintain the balance between supply and demand. The intermittencies give rise to situations…
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…
Conventional power system optimization framework is becoming less reliable and efficient due to the stability issues brought by the ever-increasing inverter-interfaced renewable penetration. To ensure system stability during system…
The deepening penetration of renewables in power systems has contributed to the increasing needs for generation scheduling flexibility. Specifically, for short-term operations, flexibility here indicates that sufficient ramp capacities…
We study linear policy approximations for the risk-conscious operation of an industrial energy system with uncertain wind power, significant and variable electricity demand, and high thermal output, as found in a modern foundry. The system…
As renewable wind energy penetration rates continue to increase, one of the major challenges facing grid operators is the question of how to control transmission grids in a reliable and a cost-efficient manner. The stochastic nature of wind…
The expansion of inverter-connected generation facilities (i.e. wind and photovoltaics) and the removal of conventional power plants is necessary to mitigate the impacts of climate change. Whereas conventional generation with large rotating…