Distributed, price-based control approach to market-based operation of future power systems

A. Jokic; P.P.J. Bosch, van den; R.M. Hermans

doi:10.1109/EEM.2009.5207170

Distributed, price-based control approach to market-based operation of future power systems

A. Jokic, P.P.J. Bosch, van den, R.M. Hermans

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic › peer-review

16 Citations (Scopus)

212 Downloads (Pure)

Abstract

In this paper we present, discuss and illustrate on examples the price-based control paradigm as a suitable approach to solve some of the challenging problems facing future, market-based power systems. It is illustrated how global objectives and constraints are optimally translated into time-varying prices. The real-time varying price signals are guaranteed to adequately reflect the state of the physical system and present the signals that optimally shape, coordinate and synchronize local, profit driven behaviors of producers/consumers to mutually reinforce and guarantee global objectives and constraints. As an illustrative example, the real-time price-based power balance control with congestion management is presented.

Original language	English
Title of host publication	Proceedings of the 6th International Conference on the European Energy Market (EEM 2009) 27-29 May 2009, Leuven, Belgium
Place of Publication	Piscataway
Publisher	Institute of Electrical and Electronics Engineers
Pages	5207170-1/6
ISBN (Print)	978-1-4244-4455-7
DOIs	https://doi.org/10.1109/EEM.2009.5207170
Publication status	Published - 2009

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Jokic, A., Bosch, van den, P. P. J., & Hermans, R. M. (2009). Distributed, price-based control approach to market-based operation of future power systems. In Proceedings of the 6th International Conference on the European Energy Market (EEM 2009) 27-29 May 2009, Leuven, Belgium (pp. 5207170-1/6). Institute of Electrical and Electronics Engineers. https://doi.org/10.1109/EEM.2009.5207170

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abstract = "In this paper we present, discuss and illustrate on examples the price-based control paradigm as a suitable approach to solve some of the challenging problems facing future, market-based power systems. It is illustrated how global objectives and constraints are optimally translated into time-varying prices. The real-time varying price signals are guaranteed to adequately reflect the state of the physical system and present the signals that optimally shape, coordinate and synchronize local, profit driven behaviors of producers/consumers to mutually reinforce and guarantee global objectives and constraints. As an illustrative example, the real-time price-based power balance control with congestion management is presented.",

author = "A. Jokic and {Bosch, van den}, P.P.J. and R.M. Hermans",

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doi = "10.1109/EEM.2009.5207170",

language = "English",

isbn = "978-1-4244-4455-7",

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booktitle = "Proceedings of the 6th International Conference on the European Energy Market (EEM 2009) 27-29 May 2009, Leuven, Belgium",

publisher = "Institute of Electrical and Electronics Engineers",

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Jokic, A, Bosch, van den, PPJ & Hermans, RM 2009, Distributed, price-based control approach to market-based operation of future power systems. in Proceedings of the 6th International Conference on the European Energy Market (EEM 2009) 27-29 May 2009, Leuven, Belgium. Institute of Electrical and Electronics Engineers, Piscataway, pp. 5207170-1/6. https://doi.org/10.1109/EEM.2009.5207170

Distributed, price-based control approach to market-based operation of future power systems. / Jokic, A.; Bosch, van den, P.P.J.; Hermans, R.M.
Proceedings of the 6th International Conference on the European Energy Market (EEM 2009) 27-29 May 2009, Leuven, Belgium. Piscataway: Institute of Electrical and Electronics Engineers, 2009. p. 5207170-1/6.

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › Academic › peer-review

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AB - In this paper we present, discuss and illustrate on examples the price-based control paradigm as a suitable approach to solve some of the challenging problems facing future, market-based power systems. It is illustrated how global objectives and constraints are optimally translated into time-varying prices. The real-time varying price signals are guaranteed to adequately reflect the state of the physical system and present the signals that optimally shape, coordinate and synchronize local, profit driven behaviors of producers/consumers to mutually reinforce and guarantee global objectives and constraints. As an illustrative example, the real-time price-based power balance control with congestion management is presented.

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DO - 10.1109/EEM.2009.5207170

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BT - Proceedings of the 6th International Conference on the European Energy Market (EEM 2009) 27-29 May 2009, Leuven, Belgium

PB - Institute of Electrical and Electronics Engineers

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Jokic A, Bosch, van den PPJ, Hermans RM. Distributed, price-based control approach to market-based operation of future power systems. In Proceedings of the 6th International Conference on the European Energy Market (EEM 2009) 27-29 May 2009, Leuven, Belgium. Piscataway: Institute of Electrical and Electronics Engineers. 2009. p. 5207170-1/6 doi: 10.1109/EEM.2009.5207170

Distributed, price-based control approach to market-based operation of future power systems

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