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

Onderzoeksoutput: Hoofdstuk in Boek/Rapport/Congresprocedure › Conferentiebijdrage › Academic › peer review

16 Citaten (Scopus)

212 Downloads (Pure)

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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.

Originele taal-2	Engels
Titel	Proceedings of the 6th International Conference on the European Energy Market (EEM 2009) 27-29 May 2009, Leuven, Belgium
Plaats van productie	Piscataway
Uitgeverij	Institute of Electrical and Electronics Engineers
Pagina's	5207170-1/6
ISBN van geprinte versie	978-1-4244-4455-7
DOI's	https://doi.org/10.1109/EEM.2009.5207170
Status	Gepubliceerd - 2009

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10.1109/EEM.2009.5207170

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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 (blz. 5207170-1/6). Institute of Electrical and Electronics Engineers. https://doi.org/10.1109/EEM.2009.5207170

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

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",

year = "2009",

doi = "10.1109/EEM.2009.5207170",

language = "English",

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

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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, blz. 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. blz. 5207170-1/6.

Onderzoeksoutput: Hoofdstuk in Boek/Rapport/Congresprocedure › Conferentiebijdrage › Academic › peer review

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AU - Jokic, A.

AU - Bosch, van den, P.P.J.

AU - Hermans, R.M.

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N2 - 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.

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

M3 - Conference contribution

SN - 978-1-4244-4455-7

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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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ER -

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. blz. 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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