Imperial College London
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Professor Yujian Ye

Faculty of Engineering, Department of Electrical and Electronic Engineering

Honorary Lecturer
 
 
 
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Contact

 

yujian.ye11

 
 
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Location

 

1105Electrical EngineeringSouth Kensington Campus

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Summary

 

Publications

Citation

BibTex format

@inproceedings{Ye:2014:10.1109/PSCC.2014.7038429,
author = {Ye, Y and Papadaskalopoulos, D and Strbac, G},
doi = {10.1109/PSCC.2014.7038429},
title = {Pricing flexible demand non-convexities in electricity markets},
url = {http://dx.doi.org/10.1109/PSCC.2014.7038429},
year = {2014}
}
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RIS format (EndNote, RefMan)

TY  - CPAPER
AB  - Uniform marginal prices cannot generally support competitive equilibrium solutions in markets with non-convexities and yield schedules' inconsistency and surplus sub-optimality effects. Previous work has identified non-convexities associated with the generation side of electricity markets and proposed a generalized uplift approach to eliminate these effects. This paper examines the above issues from the perspective of the flexible demand (FD) side. FD non-convexities are identified, including its ability to forgo demand activities and minimum power levels, and resulting inconsistency and surplus sub-optimality effects are demonstrated through simple examples. Generalized uplift functions for FD participants are proposed, including quadratic pricing terms to limit their tendency to concentrate at the lowest-priced periods, and binary terms associated with their ability to forgo activities. Finally, a new rule is proposed for the equitable distribution of the total surplus loss among the market participants. These contributions are supported by case studies on a market with a day-ahead horizon and hourly resolution.
AU  - Ye,Y
AU  - Papadaskalopoulos,D
AU  - Strbac,G
DO  - 10.1109/PSCC.2014.7038429
PY  - 2014///
TI  - Pricing flexible demand non-convexities in electricity markets
UR  - http://dx.doi.org/10.1109/PSCC.2014.7038429
ER  -
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