Related papers: Comparing Contract-Based Support Mechanisms for Lo…
Smart contract platforms facilitate the development of important and diverse distributed applications in a simple manner. This simplicity stems from the inherent utility of employing the state of smart contracts to store, query and verify…
Energy storage devices represent environmentally friendly candidates to cope with volatile renewable energy generation. Motivated by the increase in privately owned storage systems, this paper studies the problem of real-time control of a…
We propose a comprehensive treatment of the leverage effect, i.e. the relationship between returns and volatility of a specific asset, focusing on energy commodities futures, namely Brent and WTI crude oils, natural gas and heating oil.…
Second-life battery energy storage systems (SL-BESS) are an economical means of long-duration grid energy storage. They utilize retired battery packs from electric vehicles to store and provide electrical energy at the utility scale.…
This paper considers the representation of energy storage in electricity sector capacity planning models. The incorporation of storage in long-term systems models of this type is increasingly relevant as the cost of storage technologies,…
We study a robust contract design problem with deferred inspection, in which a principal allocates a scarce resource to an agent, observes the agent's realized outcome ex post at negligible cost, and conditions transfers on this information…
Energy storage (ES) and virtual energy storage (VES) are key components to realizing power system decarbonization. Although ES and VES have been proven to deliver various types of grid services, little work has so far provided a…
Weather, technological and regulatory uncertainties expose actors in highly renewable electricity markets to substantial price and volume risks. Two-way Contracts for Difference (CfDs) can mitigate these risks. They stipulate payments…
Demand-side management presents significant benefits in reducing the energy load in smart grids by balancing consumption demands or including energy generation and/or storage devices in the user's side. These techniques coordinate the…
With increasingly favorable economics and bundling of different grid services, energy storage systems (ESS) are expected to play a key role in integrating renewable generation. This work considers the coordination of ESS owned by customers…
We introduce contracts for linear dynamical systems with inputs and outputs. Contracts are used to express formal specifications on the dynamic behaviour of such systems through two aspects: assumptions and guarantees. The assumptions are a…
This paper presents a degradation-cost-aware optimization framework for multi-string battery energy storage systems, emphasizing the impact of inhomogeneous subsystem-level aging in operational decision-making. We evaluate four scenarios…
Distributed energy resources (DER) as non-wires alternatives, regardless of owner, have the potential to reduce system operating costs and delay system upgrades. However, it is difficult to determine the appropriate economic signal to…
Electrochemical energy storage (ES) units (e.g. batteries) have been field-validated as an efficient back-up resource that enhance resilience of the distribution system in case of natural disasters. However, using these units for resilience…
As renewable energy integration increases supply variability, battery energy storage systems (BESS) present a viable solution for balancing supply and demand. This paper proposes a novel approach for optimizing battery BESS participation in…
A whole-system, investment-optimising model has been used to examine the change in total cost of meeting demand for electricity when Smart Local Energy Systems (SLES) are deployed. Our assumption is that SLES, alongside their other…
Future greenhouse gas neutral energy systems will be dominated by renewable energy technologies providing variable supply subject to uncertain weather conditions. For this setting, we propose an algorithm for capacity expansion planning: We…
Large scale electricity storage is set to play an increasingly important role in the management of future energy networks. A major aspect of the economics of such projects is captured in arbitrage, i.e. buying electricity when it is cheap…
This paper exploits the Duration-of-Use of the demand patterns as a key concept for dealing with demand side flexibility. Starting from the consideration that fine-grained energy metering is not used at the point of supply of the…
This paper applies computational techniques of convex stochastic optimization to optimal operation and valuation of electricity storages in the face of uncertain electricity prices. Our approach is applicable to various specifications of…