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Uncertainty-Informed Renewable Energy Scheduling: A Scalable Bilevel Framework
Furthermore, we find that when transmission capacity increases, the proposed bilevel model will still reduce the system cost, whereas the myopic strategy may incur a much higher cost due to over-scheduling of VRES in the day-ahead market and the lack of flexible conventional generators in real time.
Uniform Pricing vs Pay as Bid in 100%-Renewables Electricity Markets: A Game-theoretical Analysis
We prove that UP can incentivize suppliers to withhold bidding quantities and lead to price spikes.
Dynamic Reserves for Managing Wind Power
In this paper, we suggest that reserves must be computed dynamically to account for wind power volatility.
Market Mechanisms for Low-Carbon Electricity Investments: A Game-Theoretical Analysis
To reduce the impact of excessive scarcity prices, we present a new market mechanism, which consists of a Penalty payment for lost load, a supply Incentive, and an energy price Uplift (PIU).
A Scalable Bilevel Framework for Renewable Energy Scheduling
Accommodating the uncertain and variable renewable energy sources (VRES) in electricity markets requires sophisticated and scalable tools to achieve market efficiency.
Insurance Contract for High Renewable Energy Integration
A proper insurance design needs to resolve the following two challenges: (i) users' reliability preference is private information; and (ii) the insurance design is tightly coupled with the renewable energy investment decision.
Strategic Storage Investment in Electricity Markets
Each investor decides the storage investment over a long investment horizon, and operates the storage for arbitrage revenues in the daily electricity market.
Time-of-use Pricing for Energy Storage Investment
Such a pricing scheme provides users with incentives to invest in behind-the-meter energy storage and to shift peak load towards low-price intervals.
Contract-based Time-of-use Pricing for Energy Storage Investment
We also show that the proposed contracts can reduce the system social cost by over 30%, compared with no storage investment benchmark.
Systems and Control Systems and Control
Virtual Energy Storage Sharing and Capacity Allocation
In our simulation results, the proposed storage virtualization model can reduce the physical energy storage investment of the aggregator by 54. 3% and reduce the users' total costs by 34. 7%, compared to the case where users acquire their own physical storage.
