dynamic-incentives-for-optimal-control-of-competitive-power-systems.pdf
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...
| Γλώσσα: | English |
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| Έκδοση: |
KIT Scientific Publishing
2022
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| Διαθέσιμο Online: | https://doi.org/10.5445/KSP/1000147941 |
| Περίληψη: | 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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