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Introduction of market mechanisms in distribution systems is currently subject to extensive studies. One of the challenges facing Distribution Market Operators (DMOs) is to implement a fair and economically efficient pricing mechanism that…

This paper evaluates market equilibrium under different pricing mechanisms in a two-settlement 100%-renewables electricity market. Given general probability distributions of renewable energy, we establish game-theoretical models to analyze…

We analyze pricing mechanisms in electricity markets with AC power flow equations that define a nonconvex feasible set for the economic dispatch problem. Specifically, we consider two possible pricing schemes. The first among these prices…

The short-term forecasting of real-time locational marginal price (LMP) and network congestion is considered from a system operator perspective. A new probabilistic forecasting technique is proposed based on a multiparametric programming…

Renewable distributed energy resources (DERs) have the potential to provide multi-location electricity consumers (MLECs) with electricity at prices lower than those offered by the grid using behind-the-meter advantages. This study examines…

In this paper, we discuss incentive design for hierarchical model predictive control (MPC) systems viewed as Stackelberg games. We consider a hierarchical MPC formulation where, given a lower-level convex MPC (LoMPC), the upper-level system…

With the increasing penetration of intermittent renewable energy sources (RESs), it becomes increasingly challenging to maintain the supply-demand balance of power systems by solely relying on the generation side. To combat the volatility…

This paper studies dynamic monopoly pricing for a broad class of settings that allow for multiple durable, multiple rental, or a mix of varieties. We show that the driving force behind pricing dynamics is the existence of trading-up…

Ridesharing platforms match drivers and riders to trips, using dynamic prices to balance supply and demand. A challenge is to set prices that are appropriately smooth in space and time, so that drivers with the flexibility to decide how to…

High renewable penetration increases the frequency and magnitude of net-load ramps, stressing real-time flexibility. Two commonly deployed remedies are look-ahead economic dispatch (LAED) and ramp products (RPs), yet their operational…

Fixed pickup and delivery times can strongly limit the performance of freight transportation. Against this backdrop, fleet operators can use compensation mechanisms such as monetary incentives to buy delay time from their customers, in…

Wind energy has emerged as one of the most vital and economically viable forms of renewable energy. The integration of wind energy sources into power grids across the globe has been increasing substantially, largely due to the higher levels…

A large fraction of the total electric load is comprised of end-use devices whose demand for energy is inherently deferrable in time. Of interest is the potential to leverage on such latent flexibility in demand to absorb variability in…

This paper studies the pool strategy for price-makers under imperfect information. In this occasion, market participants cannot obtain essential transmission parameters of the power system. Thus, price-makers should estimate the market…

Predicting the demand for electricity with uncertainty helps in planning and operation of the grid to provide reliable supply of power to the consumers. Machine learning (ML)-based demand forecasting approaches can be categorized into (1)…

A distributed, hierarchical, market based approach is introduced to solve the economic dispatch problem. The approach requires only a minimal amount of information to be shared between a central market operator and the end-users. Price…

In response to the escalating need for sustainable manufacturing practices amid fluctuating energy prices, this study introduces a novel dispatching rule that integrates energy price and workload considerations with Material Requirement…

The system operator's scheduling problem in electricity markets, called unit commitment, is a non-convex mixed-integer program. The optimal value function is non-convex, preventing the application of traditional marginal pricing theory to…

Recent studies concerning the point electricity price forecasting have shown evidence that the hourly German Intraday Continuous Market is weak-form efficient. Therefore, we take a novel, advanced approach to the problem. A probabilistic…

The emergence of Distributed Energy Resources (DERs) provides both challenges and opportunities for the planning and operations of distribution systems. These resources can be deployed in a manner that is either complementary to or in…