Dynamic Incentives for Optimal Control of Competitive Power Systems

Released on by Kölsch, Lukas
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  • Dynamic Incentives for Optimal Control of Competitive Power Systems Book Detail

  • Author : Kölsch, Lukas
  • Release Date : 2022-10-11
  • Publisher : KIT Scientific Publishing
  • Genre : Technology & Engineering
  • Pages : 288
  • ISBN 13 : 3731512092
  • File Size : 43,43 MB
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Dynamic Incentives for Optimal Control of Competitive Power Systems by Kölsch, Lukas PDF Summary

Book 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.

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