相关论文: Addressing Imbalance Risk with Reserves and Flexib…
Flexible ramping products (FRPs) emerge as a promising instrument for addressing steep and uncertain ramping needs through market mechanisms. Initial implementations of FRPs in North American electricity markets, however, revealed several…
High shares of variable renewable energy necessitate substantial energy storage capacity. However, it remains unclear how to design a market that, on the one hand, ensures a stable and sufficient income for storage firms, and, on the other…
The interplay between risk aversion and financial derivatives has received increasing attention since the advent of electricity market liberalization. One important challenge in this context is how to develop economically efficient and…
Despite the success of demand response programs in retail electricity markets in reducing average consumption, the random responsiveness of consumers to price event makes their efficiency questionable to achieve the flexibility needed for…
In this article, we investigate mismatch of renewable electricity production to demand and how this is affected by flexibility options on the supply side. We assess the impact of spatial and temporal smoothing on reliability of production…
Energy cooperatives (ECs) such as residential and industrial microgrids have the potential to mitigate increasing fluctuations in renewable electricity generation, but only if their joint response is coordinated. However, the coordination…
The growing amount of intermittent renewables in power generation creates challenges for real-time matching of supply and demand in the power grid. Emerging ancillary power markets provide new incentives to consumers (e.g., electrical…
Electricity markets are under increasing pressure to maintain reliability amidst rising renewable penetration, demand variability, and occasional price shocks. Traditional capacity market designs often fall short in addressing this by…
A community integrated energy system (CIES) with an electric vehicle charging station (EVCS) provides a new way for tackling growing concerns of energy efficiency and environmental pollution, it is a critical task to coordinate flexible…
The roll-out of a flexible ramping product provides Independent System Operators (ISOs) with the ability to address ramping capacity shortages. ISOs procure flexible ramping capability by committing more generating units or reserving a…
We study risk-aware linear policy approximations for the optimal operation of an energy system with stochastic wind power, storage, and limited fuel. The resulting problem is a sequential decision-making problem with rolling forecasts. In…
The expected increase in the penetration of renewables in the approaching decade urges the electricity market to introduce new products - in particular, flexible ramping products - to accommodate the renewables' variability and…
Energy storage technologies are key to improving grid flexibility in the presence of increasing amounts of intermittent renewable generation. We propose an insurance contract that suitably compensates energy storage systems for providing…
Increased penetration of wind energy will make electricity market prices more volatile. As a result, market participants will bear increased financial risks, which impact investment decisions and in turn, makes it harder to achieve…
Two special situations where the standard uncertainty product inequality appears to be useless are modified. One such case is noted to also trivialize the recently-introduced alternatives [Phys. Rev. Lett. 113, 260401 (2014); Sci. Rep. 6,…
The price of electricity is far more volatile than that of other commodities normally noted for extreme volatility. Demand and supply are balanced on a knife-edge because electric power cannot be economically stored, end user demand is…
With the ongoing transition of electricity markets worldwide from hourly to intra-hourly bidding, market participants--especially Renewable Energy Sources (RES)--gain improved opportunities to adjust energy and reserve schedules and to…
Traditional bulk load flexibility options, such as load shifting and load curtailment, for managing uncertainty in power markets limit the diversity of options and ignore the preferences of the individual loads, thus reducing efficiency and…
Dispatchability of renewable energy sources and inflexible loads can be achieved using a volatility-compensating energy storage. However, as the future power outputs of the inflexible devices are uncertain, the computation of a dispatch…
Distributed renewable energy resources have attracted significant attention in recent years due to the falling cost of the renewable energy technology, extensive federal and state incentives, and the application in improving load-point…