9,993 research outputs found
Multiple Timescale Dispatch and Scheduling for Stochastic Reliability in Smart Grids with Wind Generation Integration
Integrating volatile renewable energy resources into the bulk power grid is
challenging, due to the reliability requirement that at each instant the load
and generation in the system remain balanced. In this study, we tackle this
challenge for smart grid with integrated wind generation, by leveraging
multi-timescale dispatch and scheduling. Specifically, we consider smart grids
with two classes of energy users - traditional energy users and opportunistic
energy users (e.g., smart meters or smart appliances), and investigate pricing
and dispatch at two timescales, via day-ahead scheduling and realtime
scheduling. In day-ahead scheduling, with the statistical information on wind
generation and energy demands, we characterize the optimal procurement of the
energy supply and the day-ahead retail price for the traditional energy users;
in realtime scheduling, with the realization of wind generation and the load of
traditional energy users, we optimize real-time prices to manage the
opportunistic energy users so as to achieve systemwide reliability. More
specifically, when the opportunistic users are non-persistent, i.e., a subset
of them leave the power market when the real-time price is not acceptable, we
obtain closedform solutions to the two-level scheduling problem. For the
persistent case, we treat the scheduling problem as a multitimescale Markov
decision process. We show that it can be recast, explicitly, as a classic
Markov decision process with continuous state and action spaces, the solution
to which can be found via standard techniques. We conclude that the proposed
multi-scale dispatch and scheduling with real-time pricing can effectively
address the volatility and uncertainty of wind generation and energy demand,
and has the potential to improve the penetration of renewable energy into smart
grids.Comment: Submitted to IEEE Infocom 2011. Contains 10 pages and 4 figures.
Replaces the previous arXiv submission (dated Aug-23-2010) with the same
titl
Distributed Stochastic Market Clearing with High-Penetration Wind Power
Integrating renewable energy into the modern power grid requires
risk-cognizant dispatch of resources to account for the stochastic availability
of renewables. Toward this goal, day-ahead stochastic market clearing with
high-penetration wind energy is pursued in this paper based on the DC optimal
power flow (OPF). The objective is to minimize the social cost which consists
of conventional generation costs, end-user disutility, as well as a risk
measure of the system re-dispatching cost. Capitalizing on the conditional
value-at-risk (CVaR), the novel model is able to mitigate the potentially high
risk of the recourse actions to compensate wind forecast errors. The resulting
convex optimization task is tackled via a distribution-free sample average
based approximation to bypass the prohibitively complex high-dimensional
integration. Furthermore, to cope with possibly large-scale dispatchable loads,
a fast distributed solver is developed with guaranteed convergence using the
alternating direction method of multipliers (ADMM). Numerical results tested on
a modified benchmark system are reported to corroborate the merits of the novel
framework and proposed approaches.Comment: To appear in IEEE Transactions on Power Systems; 12 pages and 9
figure
A Review of ISO New England's Proposed Market Rules
This report reviews the proposed rules for restructured wholesale electricity markets in New England. We review the market rules, both individually and collectively, and identify potential problems that might limit the efficiency of these markets. We examine alternatives and identify the key tradeoffs among alternative designs. We believe that the wholesale electricity market in New England can begin on December 1, 1998. However, improvements are needed for long-run success. We have identified four major recommendations: 1. Switch to a multi-settlement system. 2. Introduce demand-side bidding. 3. Adopt location-based transmission congestion pricing, especially for the import/export interfaces. 4. Fix the pricing of the ten minute spinning reserves.Auctions; Multiple Object Auctions; Electricity Auctions
Price Spikes in Electricity Markets: A Strategic Perspective
This paper aims to analyze the issue of price spikes in electricity markets through the lens of noncooperative game theory. The case we consider is Australia’s long established National Electricity Market (NEM). Specifically, we adapt von der Fehr and Harbord’s multi-unit auction model to settings that more closely reflect the structure of the NEM, showing that price spikes can be related to a specifiable threshold in demand.Electricity Markets, Spot Price Behaviour, Non-Cooperative Game Theory.
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