Related papers: Peer-to-Peer Basis Risk Management for Renewable P…
This paper presents a scenario based robust optimization framework for short term energy scheduling in electricity intensive industrial plants, explicitly addressing uncertainty in planning decisions. The model is formulated as a two-stage…
Aggregating statistically diverse renewable power producers (RPPs) is an effective way to reduce the uncertainty of the RPPs. The key question in aggregation of RPPs is how to allocate payoffs among the RPPs. In this paper, a payoff…
Two-stage robust unit commitment (RUC) models have been widely used for day-ahead energy and reserve scheduling under high renewable integration. The current state of the art relies on budget-constrained polyhedral uncertainty sets to…
Generation and load balance is required in the economic scheduling of generating units in the smart grid. Variable energy generations, particularly from wind and solar energy resources, are witnessing a rapid boost, and, it is anticipated…
We propose an enhancement to wholesale electricity markets whereby the exposure of consumers to increasingly large and volatile consumer payments arising as a byproduct of volatile real-time net loads -- i.e., loads minus renewable outputs…
This paper presents a distributionally robust model predictive control (DRMPC) framework for the optimal Virtual Power Plant (VPP) operation under electricity price uncertainty. A unified VPP model is formulated that captures the…
Wind power producers can benefit from forming coalitions to participate cooperatively in electricity markets. To support such collaboration, various profit allocation rules rooted in cooperative game theory have been proposed. However,…
Off-grid renewable power to ammonia (ReP2A) systems present a promising pathway toward carbon neutrality in both the energy and chemical industries. However, due to chemical safety requirements, the limited flexibility of ammonia synthesis…
Reinsurance optimization is a cornerstone of solvency and capital management, yet traditional approaches often rely on restrictive distributional assumptions and static program designs. We propose a hybrid framework that combines…
Over the last few decades, electricity markets around the world have adopted multi-settlement structures, allowing for balancing of supply and demand as more accurate forecast information becomes available. Given increasing uncertainty due…
Accurate forecasting is critical for reliable power grid operations, particularly as the share of renewable generation, such as wind and solar, continues to grow. Given the inherent uncertainty and variability in renewable generation,…
Peer-to-peer energy trading platforms enable direct electricity exchanges between peers who belong to the same energy community. In a semi-decentralized system, a community manager adheres to grid restrictions while optimizing social…
Distributed energy resources offer a control-based option to improve distribution system reliability by ensuring system states that positively impact component failure rates. This option is an attractive complement to otherwise costly and…
Demand-side energy management, such as the real-time pricing (RTP) program, offers manufacturers opportunities to reduce energy costs by shifting production to low-price hours. However, this strategy is challenging to implement when machine…
We develop a clearance and settlement model for Peer-to-Peer (P2P) energy trading in low-voltage networks. The model enables direct transactions between parties within an open and distributed system and integrates unused capacity while…
Electricity production via solar energy is tackled via short-term forecasts and risk management. Our main tool is a new setting on time series. It allows the definition of "confidence bands" where the Gaussian assumption, which is not…
With increasing penetration of renewable energy and active consumers, control and management of power distribution networks has become challenging. Renewable energy sources can cause random voltage fluctuations as their output power depends…
As more and more distributed renewable energy resources are integrated to the grid, the traditional consumers have become the prosumers who can sell back their surplus energy to the others who are in energy shortage. This peer-to-peer (P2P)…
The recent advances in wireless energy transfer (WET) provide an alternate and reliable option for replenishing the battery of pervasive and portable devices, such as smartphones. The peer-to-peer (P2P) mode of WET brings improved…
The paper develops a typical management problem of a large power producer (i.e., he can partly influence the market price). In particular, he routinely needs to decide how much of his generation it is preferable to commit to fixed price…