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We consider a dynamic pricing problem where customer response to the current price is impacted by the customer price expectation, aka reference price. We study a simple and novel reference price mechanism where reference price is the…
Periodic Double Auctions (PDAs) are commonly used in the real world for trading, e.g. in stock markets to determine stock opening prices, and energy markets to trade energy in order to balance net demand in smart grids, involving trillions…
In electrical distribution grids, the constantly increasing number of power generation devices based on renewables demands a transition from a centralized to a distributed generation paradigm. In fact, power injection from Distributed…
We consider the setting in which an electric power utility seeks to curtail its peak electricity demand by offering a fixed group of customers a uniform price for reductions in consumption relative to their predetermined baselines. The…
In the context of smart grids and load balancing, daily peak load forecasting has become a critical activity for stakeholders of the energy industry. An understanding of peak magnitude and timing is paramount for the implementation of smart…
The $\textit{data market design}$ problem is a problem in economic theory to find a set of signaling schemes (statistical experiments) to maximize expected revenue to the information seller, where each experiment reveals some of the…
Smart energy networks provide for an effective means to accommodate high penetrations of variable renewable energy sources like solar and wind, which are key for deep decarbonisation of energy production. However, given the variability of…
The smart power grid aims at harnessing information and communication technologies to enhance reliability and enforce sensible use of energy. Its realization is geared by the fundamental goal of effective management of demand load. In this…
As an efficient way to integrate multiple distributed energy resources and the user side, a microgrid is mainly faced with the problems of small-scale volatility, uncertainty, intermittency and demand-side uncertainty of DERs. The…
In this paper, we propose a novel incentive based Demand Response (DR) program with a self reported baseline mechanism. The System Operator (SO) managing the DR program recruits consumers or aggregators of DR resources. The recruited…
With improvement in smart grids through two-way communication, demand response (DR) has gained significant attention due to the inherent flexibility provided by shifting non-critical loads from peak periods to off-peak periods, which can…
We study the impact of end-user behavior on service provider (SP) bidding and user/network association in a HetNet with multiple SPs while considering the uncertainty in the service guarantees offered by the SPs. Using Prospect Theory (PT)…
Demand side management (DSM) is a key solution for reducing the peak-time power consumption in smart grids. To provide incentives for consumers to shift their consumption to off-peak times, the utility company charges consumers differential…
We consider a novel pricing and advertising framework, where a seller not only sets product price but also designs flexible 'advertising schemes' to influence customers' valuation of the product. We impose no structural restriction on the…
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…
Understanding and predicting the electricity demand responses to prices are critical activities for system operators, retailers, and regulators. While conventional machine learning and time series analyses have been adequate for the routine…
This paper is concerned with the determination of pricing strategies for a firm that in each period of a finite horizon receives replenishment quantities of a single product which it sells in two markets, e.g., a long-distance market and an…
An increasing share of energy is produced from renewable sources by many small producers. The efficiency of those sources is volatile and, to some extent, random, exacerbating the problem of energy market balancing. In many countries, this…
This paper considers two important problems -- on the supply-side and demand-side respectively and studies both in a unified framework. On the supply side, we study the problem of energy sharing among microgrids with the goal of maximizing…
Distribution networks are transitioning from passive to active systems due to the growing integration of distributed energy resources (DERs). Peer to Peer (P2P) energy trading has emerged as a viable framework that enables local energy…