Market implementation of multiple-arrival multiple-deadline differentiated energy services

DOI10.1016/J.AUTOMATICA.2020.108933MaRDI QIDQ1987281zbMATH OpenOpenAlexFDO

Authors Yanfang Mo, Wei Chen, Li Qiu, Pravin Varaiya

Publication date 14 April 2020

Published in Automatica (Search for Journal in Brave)

Full work available at URL https://arxiv.org/abs/1906.02904

zbMATH Keywords

competitive equilibriumdemand responsemarket implementationsmart gridtractable integer programming

Mathematics Subject Classification ID

Integer programming (90C10) Economic models of real-world systems (e.g., electricity markets, etc.) (91B74)

Abstract: An increasing concern in power systems is how to elicit flexibilities in demand, which leads to nontraditional electricity products for accommodating loads of different flexibility levels. We have proposed Multiple-Arrival Multiple-Deadline (MAMD) differentiated energy services for the flexible loads which require constant power for specified durations. Such loads are indifferent to the actual power delivery time as long as the duration requirements are satisfied between the specified arrival times and deadlines. The focus of this paper is the market implementation of such services. In a forward market, we establish the existence of an efficient competitive equilibrium to verify the economic feasibility, which implies that selfish market participants can attain the maximum social welfare in a distributed manner. We also show the strengths of the MAMD services by simulation.

Recommendations

• A dynamic framework for electricity markets
• Optimal policies for simultaneous energy consumption and ancillary service provision for flexible loads under stochastic prices and no capacity reservation constraint
• Local matching of flexible load in smart grids
• Price-region bids in electricity markets
• Optimal procurement of flexibility services within electricity distribution networks

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Cited in

(4)

• Integration of Price-Responsive Appliances in the Energy Market Through Flexible Demand Saturation
• Duration-Differentiated Energy Services With a Continuum of Loads
• Real-time peak-demand minimization with energy storage using competitive ratio
• A note on duration-service-time differentiated energy services

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