{"title":"A Fair and Self-Sufficient Value Stack-Based Compensation Scheme for DERs Enhancing Network Performance","authors":"Shilpa Bindal;Abhijit R. Abhyankar","doi":"10.1109/TEMPR.2024.3384833","DOIUrl":"https://doi.org/10.1109/TEMPR.2024.3384833","url":null,"abstract":"Optimal scheduling of smart inverter-assisted distributed energy resources (DERs) benefits power system operation and planning entities. The comprehensive evaluation and fair allocation of these co-existing benefits should be the prime criteria for designing a compensation scheme. This work focuses on classifying, quantifying, and allocating multiple benefits extracted through phase-specific optimal power injection in distribution networks. This paper proposes a fair and self-sufficient compensation scheme that stacks uniquely assigned benefit components among the DERs. Using a rectangular branch-current component-based approach, this paper proposes a method to quantify the cooperative optimal power dispatch benefits, broadly classified as capacity deferral and operational benefits. In addition, this work employs the unitary participation-based Aumann Shapley value method to allocate the joint-coalitional benefits fairly among various DERs. By implementing the proposed scheme on the IEEE European distribution network for a long time horizon, various attributes of the proposed scheme are analyzed. The proposed compensation scheme provides the distribution system operator with a financial tool to stimulate DERs' coordination in the optimal power delivery action.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"2 3","pages":"423-435"},"PeriodicalIF":0.0,"publicationDate":"2024-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142173943","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Grid-Aware Tradeoff Analysis for Outage Mitigation Microgrids at Emerging Resilience Hubs","authors":"Arnav Gautam;Destenie Nock;Amritanshu Pandey","doi":"10.1109/TEMPR.2024.3383369","DOIUrl":"https://doi.org/10.1109/TEMPR.2024.3383369","url":null,"abstract":"Sustained power outages are growing in scale and number primarily due to i) the increasing number and intensity of disasters and ii) decarbonization- and electrification-related grid changes. Outage mitigation technologies (e.g., backup diesel generators, and solar panels) increasingly provide vital electricity access during disasters. However, their adoption is inequitable due to individual- or community-level barriers and historic underinvestment in certain communities. We postulate that community-based Resilience Hubs (RHs), which are being increasingly deployed to provide on-site services during disasters, can be expanded to address this inequity by supplying backup power to vulnerable communities through islanded operations. To that end, we present Grid-Aware Tradeoff Analysis (GATA) framework to identify the best backup power systems for expanded RHs. To include technical, economic, and social facets in the framework, we will use three-phase power flow (TPF) and multi-criteria decision analysis (MCDA). TPF will enforce the electrical feasibility of islanded RH operation, and MCDA will quantify the economic, environmental, and equity-weighted outage mitigation performance. As a use case for GATA, we will evaluate multiple representative RHs in Richmond, California, and highlight the non-dominated systems for the electrically feasible RHs. We show the value of GATA's detailed grid simulation, its ability to quantify tradeoffs across scenarios, and its possible extensions.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"2 2","pages":"186-199"},"PeriodicalIF":0.0,"publicationDate":"2024-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141319609","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"An Incentive Scheme for Grid-Enhancing Technologies Based on the Shapley Value","authors":"Xinyang Rui;Omid Mirzapour;Mostafa Sahraei-Ardakani","doi":"10.1109/TEMPR.2024.3402588","DOIUrl":"https://doi.org/10.1109/TEMPR.2024.3402588","url":null,"abstract":"Modernization of the transmission system via deploying grid-enhancing technologies (GETs) is a cornerstone of future grid design. New congestion patterns necessitating renewable energy curtailment highlight the significance of GETs. Despite the wide acknowledgment of the importance and benefits of GETs, their deployment remains fairly limited. One important barrier is the lack of proper incentives for deployment and efficient operation of GETs. This paper designs an incentive scheme to compensate GETs based on their performance in the intraday market. The rewards are determined based on the cost savings achieved by GET operations and are allocated to market participants using the Shapley value. The proposed incentive scheme is tested with numerical studies on modified IEEE RTS 24-bus and IEEE 300-bus systems. Results confirm that the designed incentive is aligned with the system objective: GET owners are compensated when cost savings are achieved. The benefits of a performance-based payment scheme are threefold: (i) it promotes efficient operation of existing GETs based on the state of the system, (ii) it attracts further GETs deployment, and (iii) moves the risk from ratepayers to the investors.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"2 4","pages":"552-560"},"PeriodicalIF":0.0,"publicationDate":"2024-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142810694","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Real-Time Bidding Strategy of Energy Storage in an Energy Market With Carbon Emission Allocation Based on Aumann-Shapley Prices","authors":"Rui Xie;Yue Chen","doi":"10.1109/TEMPR.2024.3378213","DOIUrl":"https://doi.org/10.1109/TEMPR.2024.3378213","url":null,"abstract":"Energy storage (ES) can help decarbonize power systems by transferring green renewable energy across time. How to unlock the potential of ES in cutting carbon emissions by appropriate market incentives has become a crucial, albeit challenging, problem. This paper fills the research gap by proposing a novel electricity market with carbon emission allocation and investigating the real-time bidding strategy of ES in the proposed market. First, a carbon emission allocation mechanism based on Aumann-Shapley prices is developed and integrated into the electricity market clearing process to give combined electricity and emission prices. A parametric linear programming-based algorithm is proposed to calculate the carbon emission allocation more accurately and efficiently. Second, the real-time bidding strategy of ES in the proposed market is studied. To be specific, we derive the real-time optimal ES operation strategy as a function of the combined electricity and emission price using Lyapunov optimization. Based on this, the real-time bidding cost curve and bounds of ES in the proposed market can be deduced. Numerical experiments show the effectiveness and scalability of the proposed method. Its advantages over the existing methods are also demonstrated by comparisons.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"2 3","pages":"350-367"},"PeriodicalIF":0.0,"publicationDate":"2024-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142174027","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Securing Energy Equity With Multilayer Market Clearing","authors":"Qiwei Zhang;Fangxing Li","doi":"10.1109/TEMPR.2024.3377210","DOIUrl":"https://doi.org/10.1109/TEMPR.2024.3377210","url":null,"abstract":"Energy equity has been quickly gaining attention as policymakers seek to place “Clean Energy for ALL” at the center of the low-carbon energy transition. Power system researchers have started to build the groundwork for incorporating energy equity into grid modernization. However, existing research has mostly focused on energy equity from a policy perspective, such as concept clarifications and tariff designs for residential customers. Little effort has been devoted to discussing energy equity in wholesale markets and to reflecting energy equity in electricity price with technical models. To the best of our knowledge, this paper presents the first study attempting to understand and implement energy equity consideration within a physically constrained electricity market-clearing model. First, we identify and discuss several concerns regarding energy equity in the existing locational marginal pricing (LMP) model. Then, we propose a multilayer framework reflecting energy equity in LMPs. Finally, the proposed framework is elaborated via a modified PJM 5-bus system and demonstrated with the WECC 179-bus system.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"2 3","pages":"301-312"},"PeriodicalIF":0.0,"publicationDate":"2024-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142173962","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"IEEE Power & Energy Society Information","authors":"","doi":"10.1109/TEMPR.2024.3369352","DOIUrl":"https://doi.org/10.1109/TEMPR.2024.3369352","url":null,"abstract":"","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"2 1","pages":"C2-C2"},"PeriodicalIF":0.0,"publicationDate":"2024-03-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://ieeexplore.ieee.org/stamp/stamp.jsp?tp=&arnumber=10472732","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140135249","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Assessment of Economic Surplus Generated at the European Balancing Platforms","authors":"Ulf Kasper;Andreas Kindsmüller;David Steber;Simon Remppis;Dominik Schlipf;Alexander Warsewa","doi":"10.1109/TEMPR.2024.3400902","DOIUrl":"https://doi.org/10.1109/TEMPR.2024.3400902","url":null,"abstract":"Load frequency control is a well-established concept in AC-operated power systems. Balancing services are used to continuously keep the equilibrium between feed-in and withdrawal of electrical energy. In recent years, significant harmonization efforts took place in Europe to create a common domestic market for balancing energy. Beside alignment of market rules and product definitions, the establishment of European balancing platforms has been one cornerstone in this development. In 2022, the last two platforms went live enabling all connected countries to commonly activate balancing energy. This paper introduces the general concept of balancing platforms as well as the relevant elements of economic surplus resulting from the exchange of balancing energy. Based on the actual submitted bids, the economic surplus generated at the European balancing platforms for Frequency Restoration Reserves during the first year of operation is assessed. Without additional surplus due to unsatisfied demand, the economic surplus resulting from the exchange of balancing energy sums up to 174.6 m. € in the considered period. The experience from setting up and operating European balancing results in an outlook on further opportunities to foster competition by extending the European balancing platforms into balancing capacity cooperations.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"2 4","pages":"570-578"},"PeriodicalIF":0.0,"publicationDate":"2024-03-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142810695","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Blank Page","authors":"","doi":"10.1109/TEMPR.2024.3369356","DOIUrl":"https://doi.org/10.1109/TEMPR.2024.3369356","url":null,"abstract":"","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"2 1","pages":"C4-C4"},"PeriodicalIF":0.0,"publicationDate":"2024-03-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://ieeexplore.ieee.org/stamp/stamp.jsp?tp=&arnumber=10472735","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140135258","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"IEEE Transactions on Energy Markets, Policy, and Regulation Information for Authors","authors":"","doi":"10.1109/TEMPR.2024.3369350","DOIUrl":"https://doi.org/10.1109/TEMPR.2024.3369350","url":null,"abstract":"","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"2 1","pages":"C3-C3"},"PeriodicalIF":0.0,"publicationDate":"2024-03-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://ieeexplore.ieee.org/stamp/stamp.jsp?tp=&arnumber=10472734","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140135278","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Evaluating Offshore Electricity Market Design Considering Endogenous Infrastructure Investments: Zonal or Nodal?","authors":"Michiel Kenis;Vladimir Dvorkin;Tim Schittekatte;Kenneth Bruninx;Erik Delarue;Audun Botterud","doi":"10.1109/TEMPR.2024.3399611","DOIUrl":"10.1109/TEMPR.2024.3399611","url":null,"abstract":"Policy makers are formulating offshore energy infrastructure plans, including wind turbines, electrolyzers, and HVDC transmission lines. An effective market design is crucial to guide cost-efficient investments and dispatch decisions. This paper jointly studies the impact of offshore market design choices on the investment in offshore electrolyzers and HVDC transmission capacity. We present a bilevel model that incorporates investments in offshore energy infrastructure, day-ahead market dispatch, and potential redispatch actions near real-time to ensure transmission constraints are respected. Our findings demonstrate that full nodal pricing, i.e., nodal pricing both onshore and offshore, outperforms the onshore zonal combined with offshore nodal pricing or offshore zonal layouts. While combining onshore zonal with offshore nodal pricing can be considered as a second-best option, it generally diminishes the profitability of offshore wind farms. However, if investment costs of offshore electrolyzers are relatively low, they can serve as catalysts to increase the revenues of the offshore wind farms. This study contributes to the understanding of market designs for highly interconnected offshore power systems, offering insights into the impact of congestion pricing methodologies on investment decisions. Besides, it is useful towards understanding the interaction of offshore loads like electrolyzers with financial support mechanisms for offshore wind farms.","PeriodicalId":100639,"journal":{"name":"IEEE Transactions on Energy Markets, Policy and Regulation","volume":"2 4","pages":"476-487"},"PeriodicalIF":0.0,"publicationDate":"2024-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141114012","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}