Dynamic Incentives for Optimal Control of Competitive Power Systems
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 e...
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| Format: | Online |
| Language: | English |
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KIT Scientific Publishing
2022
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| Online Access: | OCN: 1367232394 |
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| _version_ | 1869525743691628544 |
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| author | Kölsch, Lukas |
| author_browse | Kölsch, Lukas |
| author_facet | Kölsch, Lukas |
| author_sort | Kölsch, Lukas |
| collection | Directory of Open Access Books |
| description | 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. |
| format | Online |
| id | doab-20.500.12854ir-92932 |
| institution | Directory of Open Access Books |
| language | eng |
| publishDate | 2022 |
| publishDateRange | 2022 |
| publishDateSort | 2022 |
| publisher | KIT Scientific Publishing |
| publisherStr | KIT Scientific Publishing |
| record_format | ojs |
| spelling | doab-20.500.12854ir-929322025-05-27T05:14:10Z Dynamic Incentives for Optimal Control of Competitive Power Systems Kölsch, Lukas Strommarkt; Dynamische Optimierung; Spieltheorie; Nichtlinearer Reglerentwurf; Mathematische Modellbildung; Electricity Market; Dynamic Optimization; Game Theory; Nonlinear Control; Mathematical Modeling thema EDItEUR::T Technology, Engineering, Agriculture, Industrial processes::TH Energy technology and engineering::THR Electrical engineering 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. 2022-10-19T04:00:42Z 2022-10-19T04:00:42Z 2022-10-18T11:15:33Z 2022 book OCN: 1367232394 https://library.oapen.org/handle/20.500.12657/58901 9783731512097 https://directory.doabooks.org/handle/20.500.12854/92932 eng Karlsruher Beiträge zur Regelungs- und Steuerungstechnik open access image/jpeg image/jpeg image/jpeg image/jpeg image/jpeg Attribution-ShareAlike 4.0 International Attribution-ShareAlike 4.0 International Attribution-ShareAlike 4.0 International Attribution-ShareAlike 4.0 International Attribution-ShareAlike 4.0 International https://library.oapen.org/bitstream/20.500.12657/58901/1/dynamic-incentives-for-optimal-control-of-competitive-power-systems.pdf https://library.oapen.org/bitstream/20.500.12657/58901/1/dynamic-incentives-for-optimal-control-of-competitive-power-systems.pdf https://library.oapen.org/bitstream/20.500.12657/58901/1/dynamic-incentives-for-optimal-control-of-competitive-power-systems.pdf https://library.oapen.org/bitstream/20.500.12657/58901/1/dynamic-incentives-for-optimal-control-of-competitive-power-systems.pdf https://library.oapen.org/bitstream/20.500.12657/58901/1/dynamic-incentives-for-optimal-control-of-competitive-power-systems.pdf KIT Scientific Publishing 10.5445/KSP/1000147941 10.5445/KSP/1000147941 68fffc18-8f7b-44fa-ac7e-0b7d7d979bd2 9783731512097 AG Universitätsverlage 288 open access |
| spellingShingle | Strommarkt; Dynamische Optimierung; Spieltheorie; Nichtlinearer Reglerentwurf; Mathematische Modellbildung; Electricity Market; Dynamic Optimization; Game Theory; Nonlinear Control; Mathematical Modeling thema EDItEUR::T Technology, Engineering, Agriculture, Industrial processes::TH Energy technology and engineering::THR Electrical engineering Kölsch, Lukas Dynamic Incentives for Optimal Control of Competitive Power Systems |
| title | Dynamic Incentives for Optimal Control of Competitive Power Systems |
| title_full | Dynamic Incentives for Optimal Control of Competitive Power Systems |
| title_fullStr | Dynamic Incentives for Optimal Control of Competitive Power Systems |
| title_full_unstemmed | Dynamic Incentives for Optimal Control of Competitive Power Systems |
| title_short | Dynamic Incentives for Optimal Control of Competitive Power Systems |
| title_sort | dynamic incentives for optimal control of competitive power systems |
| topic | Strommarkt; Dynamische Optimierung; Spieltheorie; Nichtlinearer Reglerentwurf; Mathematische Modellbildung; Electricity Market; Dynamic Optimization; Game Theory; Nonlinear Control; Mathematical Modeling thema EDItEUR::T Technology, Engineering, Agriculture, Industrial processes::TH Energy technology and engineering::THR Electrical engineering |
| topic_facet | Strommarkt; Dynamische Optimierung; Spieltheorie; Nichtlinearer Reglerentwurf; Mathematische Modellbildung; Electricity Market; Dynamic Optimization; Game Theory; Nonlinear Control; Mathematical Modeling thema EDItEUR::T Technology, Engineering, Agriculture, Industrial processes::TH Energy technology and engineering::THR Electrical engineering |
| url | OCN: 1367232394 |
| work_keys_str_mv | AT kolschlukas dynamicincentivesforoptimalcontrolofcompetitivepowersystems |