Virtual Bids and Flexible Bids: Risk Mitigation and Congestion Relief

PI: 
Varaiya, Pravin
Project Status: 
Completed

This research is focused on two innovative bidding strategies in the day-ahead markets and the real-time market: virtual bids and flexible bids. This work builds on previous CERTS research, which focused on developing advances in: (a) Risk-limiting dispatch to balance the variability of renewable power with reserves of different types, purchased in a sequence of forward markets, so that the portfolio collectively behaves as reliably as dispatchable thermal generation; (b) coordinated distributed resources, which is a dual approach that uses the different kinds of flexibility inherent in demand to shape aggregate demand to match fluctuating supply; and (c) incentives.

Related Publications

Chakraborty, Pratyush, Enrique Baeyens, Pramod P Khargonekar, and Kameshwar Poolla. "A cooperative game for the realized profit of an aggregation of renewable energy producers." 2016 IEEE 55th Conference on Decision and Control (CDC). Las Vegas, NV, USA: IEEE, 2016. 5805 - 5812.
Wu, Chenye, Jared Porter, and Kameshwar Poolla. "Community storage for firming." 2016 IEEE International Conference on Smart Grid Communications (SmartGridComm). Sydney, Australia: IEEE, 2016. 570 - 575.
Muthirayan, Deepan, Dileep Kalathil, Kameshwar Poolla, and Pravin Varaiya. "Mechanism design for self-reporting baselines in Demand Response." 2016 American Control Conference (ACC). Boston, MA, USA: IEEE, 2016. 1446 - 1451.
Tang, Wenyuan, Ram Rajagopal, Kameshwar Poolla, and Pravin Varaiya. "Model and data analysis of two-settlement electricity market with virtual bidding." 2016 IEEE 55th Conference on Decision and Control (CDC). Las Vegas, NV, USA: IEEE, 2016. 6645 - 6650.
Hao, He, Borhan M Sanandaji, Kameshwar Poolla, and Tyrone L Vincent. "Aggregate Flexibility of Thermostatically Controlled Loads." IEEE Transactions on Power Systems 30.1 (2015) 189 - 198.
Wang, Dai, Dileep Kalathil, Kameshwar Poolla, and Xiaohong Guan. "Coordination of wind power and flexible load through demand response options." IEEE Annual Conference on Decision and Control. Osaka, Japan: IEEE, 2015.
Gupta, Abhishek, Rahul Jain, Kameshwar Poolla, and Pravin Varaiya. "Equilibria in two-stage electricity markets." IEEE Annual Conference on Decision and Control. Osaka, Japan: IEEE, 2015.
Sanandaji, Borhan M, Akin Tascikaraoglu, Kameshwar Poolla, and Pravin Varaiya. "Low-dimensional models in spatio-temporal wind speed forecasting." 2015 American Control Conference (ACC). Chicago, IL, USA: IEEE, 2015. 4485 - 4490.
Hao, He, Borhan M Sanandaji, Kameshwar Poolla, and Tyrone L Vincent. "Potentials and economics of residential thermal loads providing regulation reserve." Energy Policy 79 (2015) 115 - 126.
Sanandaji, Borhan M, Tyrone L Vincent, and Kameshwar Poolla. "Ramping Rate Flexibility of Residential HVAC Loads." IEEE Transactions on Sustainable Energy (2015) 1 - 10.
Mather, Jonathan, Enrique Baeyens, Kameshwar Poolla, and Pravin Varaiya. "The real value of load flexibility — congestion free dispatch." 2015 American Control Conference (ACC). Chicago, IL, USA: IEEE, 2015. 5002 - 5009.
Radhakrishnan, Nikitha, Yang Su, Rong Su, and Kameshwar Poolla. "Token based scheduling of HVAC Services in commercial buildings." 2015 American Control Conference (ACC). Chicago, IL, USA: IEEE, 2015. 262 - 269.
Hughes, J.T., Alejandro D Dominguez-Garcia, and Kameshwar Poolla. "Virtual Battery Models for Load Flexibility from Commercial Buildings." 48th Hawaii International Conference on System Sciences (HICSS). Kauai, HI: IEEE, 2015.
Nayyar, Ashutosh, Matias Negrete-Pincetic, Kameshwar Poolla, and Pravin Varaiya. "Duration-differentiated energy services with a continuum of loads." 2014 IEEE 53rd Annual Conference on Decision and Control (CDC). Los Angeles, CA, USA: IEEE, 2014. 1714 - 1719.
Sanandaji, Borhan M, He Hao, and Kameshwar Poolla. "Fast Regulation Service Provision via Aggregation of Thermostatically Controlled Loads." 2014 47th Hawaii International Conference on System Sciences (HICSS). Waikoloa, HI: IEEE, 2014. 2388 - 2397.
Munoz-Alvarez, Daniel, and Eilyan Bitar. "Financial storage rights: Definition and basic properties." 2014 North American Power Symposium (NAPS). Pullman, WA, USA: IEEE, 2014. 1 - 6.
Hao, He, Borhan M Sanandaji, Kameshwar Poolla, and Tyrone L Vincent. "Frequency regulation from flexible loads: Potential, economics, and implementation." 2014 American Control Conference - ACC 2014. Portland, OR, USA: IEEE, 2014. 65 - 72.
Sanandaji, Borhan M, He Hao, Kameshwar Poolla, and Tyrone L Vincent. "Improved battery models of an aggregation of Thermostatically Controlled Loads for frequency regulation." 2014 American Control Conference - ACC 2014 . Portland, OR, USA: IEEE, 2014. 38 - 45.
Maasoumy, Mehdi, Borhan M Sanandaji, Alberto Sangiovanni-Vincentelli, and Kameshwar Poolla. "Model Predictive Control of regulation services from commercial buildings to the smart grid." 2014 American Control Conference (ACC). Portland, OR, USA: IEEE, 2014. 2226 - 2233.
Bose, Subhonmesh, and Eilyan Bitar. "Variability and the Locational Marginal Value of Energy Storage." 2014 IEEE 53rd Annual Conference on Decision and Control (CDC). Los Angeles, CA, USA: IEEE, 2014. 3259 - 3265.
Hao, He, Borhan M Sanandaji, Kameshwar Poolla, and Tyrone L Vincent. "A generalized battery model of a collection of Thermostatically Controlled Loads for providing ancillary service." 2013 51st Annual Allerton Conference on Communication, Control, and Computing (Allerton). Monticello, IL: IEEE, 2013. 551 - 558.
Nayyar, Ashutosh, Kameshwar Poolla, and Pravin Varaiya. "A statistically robust payment sharing mechanism for an aggregate of renewable energy producers." 2013 European Control Conference. Zurich, Switzerland: IEEE, 2013.
Nayyar, Ashutosh, Josh Taylor, Anand Subramanian, Kameshwar Poolla, and Pravin Varaiya. "Aggregate flexibility of a collection of loads." 2013 IEEE 52nd Annual Conference on Decision and Control (CDC). Firenze: IEEE, 2013. 5600 - 5607.
Gharesifard, Bahman, Tamer Basar, and Alejandro D Dominguez-Garcia. "Price-based distributed control for networked plug-in electric vehicles." 2013 American Control Conference (ACC). Washington, DC: IEEE, 2013. 5086 - 5091.
Subramanian, Anand, Manuel J Garcia, Duncan S Callaway, Kameshwar Poolla, and Pravin Varaiya. "Real-Time Scheduling of Distributed Resources." IEEE Transactions on Smart Grid 4.4 (2013) 2122 - 2130.

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