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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| Автор: | |
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| Формат: | Електронний ресурс Частина з книги |
| Мова: | Англійська |
| Опубліковано: |
KIT Scientific Publishing
2022
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| Серія: | Karlsruher Beiträge zur Regelungs- und Steuerungstechnik
17 |
| Предмети: | |
| Онлайн доступ: | OAPEN Library: download the publication OAPEN Library: description of the publication |
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| Резюме: | 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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| Фізичний опис: | 1 electronic resource (288 p.) |
| ISBN: | KSP/1000147941 |
| Доступ: | Open Access |