Related papers: When Do Consumers Lose from Variable Electricity P…
Systems for the generation and distribution of electrical power represents critical infrastructure and, when extreme weather events disrupt such systems, this imposes substantial costs on consumers. These costs can be conceptualized as…
This paper investigates interaction among residential electricity users and utility company in a distribution network with the capability of two-way communication provided by smart grid. The energy consumption scheduling of electricity…
Dynamic pricing is commonly used to regulate congestion in shared service systems. This paper is motivated by the fact that in the presence of users with varying price sensitivity (responsiveness), conventional monotonic pricing can lead to…
In the context of nonlinear prices, the empirical evidence suggests that the consumers have cognitive biases represented in a limited understanding of nonlinear price structures, and they respond to some alternative perceptions of the…
Forecasting electricity prices is a challenging task and an active area of research since the 1990s and the deregulation of the traditionally monopolistic and government-controlled power sectors. Although it aims at predicting both spot and…
There are several approaches to modeling and forecasting time series as applied to prices of commodities and financial assets. One of the approaches is to model the price as a non-stationary time series process with heteroscedastic…
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…
Achieving decarbonization across energy sectors requires demand-side transformation such as behavioural changes and end-use efficiency improvements to complement supply-side technological shifts. However, changing consumption patterns is…
Children welfare is at the center of many welfare reforms such as cash transfers to families and training programs to parents. A key goal for policy-makers is to evaluate the costs and benefits of such reforms. The main challenge lies in…
We conduct the first rigorous study of electricity price volatility for the full panel of electricity prices across three European generation zones. By interpreting the observed day-ahead prices as local averages of a latent price process…
Energy system models for long-term planning are widely used to explore the future electricity system. Typically, to represent the future electricity demand in these models, historical demand profiles are used directly or scaled up linearly.…
Studies looking at electricity market designs for very high shares of wind and solar often conclude that the energy-only market will break down. Without fuel costs, it is said that there is nothing to set prices. Symptoms of breakdown…
An increase in energy production from renewable energy sources is viewed as a crucial achievement in most industrialized countries. The higher variability of power production via renewables leads to a rise in ancillary service costs over…
In the present work we tackle the problem of finding the optimal price tariff to be set by a risk-averse electric retailer participating in the pool and whose customers are price-sensitive. We assume that the retailer has access to a…
In this paper, we demonstrate that a consumer's marginal system impact is only determined by their demand profile rather than their demand level. Demand profile clustering is identical to cluster consumers according to their marginal…
Time-of-use pricing is promoted to manage demand at public EV charging stations, yet its effectiveness depends on short run flexibility and local constraints. Using station by day by hour data from Shenzhen and Amsterdam, we estimate…
We study the allocation of indivisible items that form an undirected graph and investigate the worst-case welfare loss when requiring that each agent must receive a connected subgraph. Our focus is on both egalitarian and utilitarian…
The U.S. electrical grid has undergone substantial transformation with increased penetration of wind and solar -- forms of variable renewable energy (VRE). Despite the benefits of VRE for decarbonization, it has garnered some controversy…
As distribution systems move towards being more actively managed there is increased potential for regional markets and the application of locational marginal prices (LMPs) to capture spatial variation in the marginal cost of electricity at…
In Demand Response programs, price incentives might not be sufficient to modify residential consumers load profile. Here, we consider that each consumer has a preferred profile and a discomfort cost when deviating from it. Consumers can…