相关论文: Managing Renewable Energy Resources Using Equity-M…
The increasing penetration of Renewable Energy Sources (RES) requires more Flexibility Resources (FR), generally thermal units and storages, must be kept in the system to accommodate the uncertainties from RES. The challenge is how the…
Increased uncertainty due to high penetration of renewables imposes significant costs to the system operators. The added costs depend on several factors including market design, performance of renewable generation forecasting and the…
Flexibility options, such as demand response, energy storage and interconnection, have the potential to reduce variation in electricity prices between different future scenarios, therefore reducing investment risk. Moreover, investment in…
Financial markets for Liquified Natural Gas (LNG) are an important and rapidly-growing segment of commodities markets. Like other commodities markets, there is an inherent spatial structure to LNG markets, with different price dynamics for…
Large deployment of distribute energy resources and the increasing awareness of end-users towards their energy procurement are challenging current practices of electricity markets. A change of paradigm, from a top-down hierarchical approach…
The development of distributed energy resources, such as rooftop photovoltaic (PV) panels, batteries, and electric vehicles (EVs), has decentralized our power system operation, where transactive energy markets empower local energy…
Spectral risk measures (SRMs) are risk measures that take account of user riskaversion, but to date there has been little guidance on the choice of utility function underlying them. This paper addresses this issue by examining alternative…
We consider the economic problem of optimal consumption and investment with power utility. We study the optimal strategy as the relative risk aversion tends to infinity or to one. The convergence of the optimal consumption is obtained for…
Flexible energy resources are increasingly becoming common in smart grids. These resources are typically managed and controlled by aggregators that coordinate many resources to provide flexibility services. However, these aggregators and…
Climate policy modelling is a key tool for assessing mitigation strategies in complex systems, where uncertainty is inherent and unavoidable. We present a general methodology for extensive uncertainty analysis in this field. While other…
The shift towards decentralized and renewable energy sources has introduced significant challenges to traditional power systems, necessitating innovative market designs. Local energy markets present a viable solution for integrating…
The financial viability of renewable energy projects is challenged by the variability and unpredictability of production due to weather fluctuations. This paper proposes a novel risk management framework combining parametric insurance and…
Accurate forecasting is critical for reliable power grid operations, particularly as the share of renewable generation, such as wind and solar, continues to grow. Given the inherent uncertainty and variability in renewable generation,…
At present, electricity markets largely ignore the fact that renewable power producers impose significant externalities on non-renewable energy producers. This is because consumers are generally guaranteed electricity within certain load…
Maintaining energy balance and economical operation is significant for multi-energy systems such as the energy hub. However, it is usually challenged by the frequently changing and unpredictable uncertainties at different timescales. Under…
In this article we discuss the application of the Heath-Jarrow-Morton framework Heath et al. [26] to energy markets. The goal of the article is to give a detailed overview of the topic, focusing on practical aspects rather than on theory,…
The implementation of electricity markets based on locational marginal pricing in a multi-settlement process has allowed wholesale competition, with pricing mechanisms that incentivize the optimal allocation of generation, transmission, and…
This paper compares the participation of Renewable-only Virtual Power Plants (RVPPs) and grid-scale Electrical Storage Systems (ESSs) in energy and reserve markets, evaluating their technical performance, market strategies, and economic…
Traditional power grid infrastructure presents significant barriers to renewable energy integration and perpetuates energy access inequities, with low-income communities experiencing disproportionately longer power outages. This study…
Renewable energy communities (RECs) are prominent initiatives to provide end consumers an active role in the energy sector, raise awareness on the importance of renewable energy (RE) technologies and increase their share in the energy…