Dynamic Incentives for Optimal Control of Competitive Power Systems
- Kölsch, Lukas
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Know about the book -
Dynamic Incentives for Optimal Control of Competitive Power Systems is written by Kölsch, Lukas and published by KIT Scientific Publishing. It's available with International Standard Book Number or ISBN identification 3731512092 (ISBN 10) and 9783731512097 (ISBN 13).
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.
