Author : Kölsch, Lukas
Release : 2022-10-11
Genre : Technology & Engineering
Kind : eBook
Book Rating : 092/5 ( reviews)
Book Synopsis Dynamic Incentives for Optimal Control of Competitive Power Systems by : Kölsch, Lukas
Download or read book Dynamic Incentives for Optimal Control of Competitive Power Systems written by Kölsch, Lukas. This book was released on 2022-10-11. Available in PDF, EPUB and Kindle. Book excerpt: 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.