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Dynamic Incentives for Optimal Control of Competitive Power Systems

This work presents a real-time dynamic pricing framework for future electricity markets. Deduced by first-principles analysis of physical, economic, and communication constraints within the power system, the proposed feedback control mechanism ensures both closed-loop system stability and economic e...

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Guardado en:
Autor principal: Kölsch, Lukas
Formato: Online
Lenguaje:inglés
Publicado: KIT Scientific Publishing 2022
Materias:
Strommarkt; Dynamische Optimierung; Spieltheorie; Nichtlinearer Reglerentwurf; Mathematische Modellbildung; Electricity Market; Dynamic Optimization; Game Theory; Nonlinear Control; Mathematical Modeling
thema EDItEUR::T Technology, Engineering, Agriculture, Industrial processes::TH Energy technology and engineering::THR Electrical engineering
Acceso en línea:OCN: 1367232394
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Sumario:This work presents a real-time dynamic pricing framework for future electricity markets. Deduced by first-principles analysis of physical, economic, and communication constraints within the power system, the proposed feedback control mechanism ensures both closed-loop system stability and economic efficiency at any given time. The resulting price signals are able to incentivize competitive market participants to eliminate spatio-temporal shortages in power supply quickly and purposively.

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