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This paper addresses a critical challenge in the high-speed passenger railway industry: designing effective dynamic pricing strategies in the context of competing and cooperating operators. To address this, a multi-agent reinforcement…
This paper presents a sensitivity-based approach for the placement of distributed energy resources (DERs) in power systems. The approach is based on the fact that most planning studies utilize some form of optimization, and solutions to…
This article focuses on the security assessment of electricity Distribution Networks (DNs) with vulnerable Distributed Energy Resource (DER) nodes. The adversary model is simultaneous compromise of DER nodes by strategic manipulation of…
Agent-based models help explain stock price dynamics as emergent phenomena driven by interacting investors. In this modeling tradition, investor behavior has typically been captured by two distinct mechanisms -- learning and heterogeneous…
The increasing uptake of residential PV-battery systems is bound to significantly change demand patterns of future power systems and, consequently, their dynamic performance. In this paper, we propose a generic demand model that captures…
Due to its theoretical virtues, several recent works propose the use of the incentive-compatible Vickrey-Clarke-Groves (VCG) mechanism for electricity markets. Coalitions of participants, however, can influence the VCG outcome to obtain…
This paper proposes a preventive congestion management framework with joint Local Flexibility Capacity Market (LFCM) and Local Energy Markets (LEMs). The framework enables Local Energy Communities (LECs) to optimize their flexibility…
This paper presents an approximate Reinforcement Learning (RL) methodology for bi-level power management of networked Microgrids (MG) in electric distribution systems. In practice, the cooperative agent can have limited or no knowledge of…
Agent-based models (ABMs) are fit to model heterogeneous, interacting systems like financial markets. We present the latest advances in Evology: a heterogeneous, empirically calibrated market ecology agent-based model of the US stock…
This two-part paper addresses the design of retail electricity tariffs for distribution systems with distributed energy resources (DERs). Part I presents a framework to optimize an ex-ante two-part tariff for a regulated monopolistic…
Traditional bulk load flexibility options, such as load shifting and load curtailment, for managing uncertainty in power markets limit the diversity of options and ignore the preferences of the individual loads, thus reducing efficiency and…
Strategic bidding tactics employed by prosumers in local markets, including the Local Electricity Market (LEM) and Local Flexibility Market (LFM), have attracted significant attention due to their potential to enhance economic benefits for…
The large integration of variable energy resources is expected to shift a large part of the energy exchanges closer to real-time, where more accurate forecasts are available. In this context, the short-term electricity markets and in…
Traditional electric energy markets do not explicitly model generator contingencies. To improve the representation of resources and to enhance the modeling of uncertainty, existing markets are moving in the direction of including generator…
As the share of renewable energy sources in the present electric energy mix rises, their intermittence proves to be the biggest challenge to carbon free electricity generation. To address this challenge, we propose an electricity pricing…
Amid the increasing interest in the deployment of Distributed Energy Resources (DERs), the Virtual Power Plant (VPP) has emerged as a pivotal tool for aggregating diverse DERs and facilitating their participation in wholesale energy…
We study the interdependence between transportation and power systems considering decentralized renewable generators and electric vehicles (EVs). We formulate the problem in a stochastic multi-agent optimization framework considering the…
We examine market outcomes in energy transport networks with a focus on gas-fired generators, which are producers in a wholesale electricity market and consumers in the natural gas market. Market administrators monitor bids to determine…
With the decreasing cost of solar photovoltaics (PV) and battery storage systems, more and more prosumers appear in the distribution systems. Accompanying with it is the trend of using home energy management systems (HEMS). HEMS…
With the rapid growth of Electric Vehicle (EV) technology, EVs are destined to shape the future of transportation. The large number of EVs facilitates the development of the emerging vehicle-to-grid (V2G) technology, which realizes…