CAREER: Pricing Non-convexities Toward Transparency in Electricity Markets
职业:为电力市场的透明度进行非凸性定价
基本信息
- 批准号:2144904
- 负责人:
- 金额:$ 50万
- 依托单位:
- 依托单位国家:美国
- 项目类别:Continuing Grant
- 财政年份:2022
- 资助国家:美国
- 起止时间:2022-01-01 至 2026-12-31
- 项目状态:未结题
- 来源:
- 关键词:
项目摘要
Despite the intention of providing the right signals to incentivize efficient market outcomes, pricing has been a major challenge in electricity market design, due to the discrepancy between the idealistic convexity assumptions in economics and the practical non-convexities of the operating characteristics of generating units. Corrective measures have been adopted, such as side-payments for cost recovery, but at the expense of compromising transparency. The issue of transparency has been a persistent concern from the stakeholders: the rationale behind a market mechanism is unclear, the settlement process is obscure, the evidence of effectiveness is insufficient, and so forth. While the wholesale electricity markets throughout the U.S. have been redesigned after the California electricity crisis, there remain a lot of ambiguities arising from the sophisticated market rules, resulting in many long-lasting litigations. Moreover, emerging market mechanisms including virtual transactions may bring in additional gaming opportunities, which can be further exacerbated by the lack of transparency. This project aims to better understand and resolve the pricing challenges arising from non-convexities, thus enabling more transparency in electricity market design. The integrated research and education activities, including the Energy Immersion Week which provides hands-on opportunities for students with disabilities, will promote the participation of underrepresented minorities in STEM, improve STEM education and educator development, and increase public energy literacy and engagement in energy efficiency programs.The goal of this five-year project is to build analytical frameworks to understand, evaluate, and adapt the evolving market mechanisms, toward the long-term goal of creating market mechanisms and providing policy recommendations that enhance the transparency, reduce the manipulation, and ultimately improve the efficiency of electricity markets. Given that the underlying engineering details are typically highly abstracted in policymaking, this project will recognize and incorporate the intricate operational constraints in power systems into economic modeling, elevating the role of engineers in market design. Following a convergence approach of engineering, economics, operations research, and data science, this project will advance the state of knowledge in electricity market design regarding: (1) comprehensive comparison of different combinations of pricing and uplift schemes; (2) game-theoretic modeling and analysis of strategic bidding in the presence of uplift; (3) data-driven characterization of two-settlement, networked systems; (4) theoretical and empirical evaluation of the efficiency impact of virtual transactions; (5) analysis of uplift allocation rules for virtual transactions; and (6) design of financial instruments and operating paradigms for increased situational awareness.This award reflects NSF's statutory mission and has been deemed worthy of support through evaluation using the Foundation's intellectual merit and broader impacts review criteria.
尽管其目的是提供正确的信号来激励有效的市场结果,定价一直是电力市场设计中的一个主要挑战,这是由于经济学中理想的凸性假设与发电机组运行特性的实际非凸性之间的差异。已经采取了纠正措施,例如为收回费用而另付款项,但代价是损害了透明度。透明度问题一直是利益攸关方关注的问题:市场机制背后的理由不明确,解决程序模糊不清,有效性证据不足,等等。加州电力危机后,美国电力批发市场进行了重新设计,但由于市场规则复杂,仍存在许多不明确之处,导致许多长期的诉讼。此外,包括虚拟交易在内的新兴市场机制可能会带来更多的赌博机会,而缺乏透明度可能会进一步加剧这种情况。该项目旨在更好地理解和解决非凸性带来的定价挑战,从而提高电力市场设计的透明度。综合研究和教育活动,包括为残疾学生提供实践机会的能源沉浸周,将促进代表性不足的少数民族参与STEM,改善STEM教育和教育工作者的发展,并提高公众的能源素养和参与能源效率计划。并调整不断发展的市场机制,朝着建立市场机制和提供政策建议的长期目标,以提高透明度,减少操纵,并最终提高电力市场的效率。鉴于基本的工程细节通常在决策中高度抽象,本项目将认识到电力系统中复杂的运行约束并将其纳入经济建模,提升工程师在市场设计中的作用。本项目将结合工程学、经济学、运筹学和数据科学的研究方法,推进电力市场设计中的以下几个方面的知识:(1)定价和提价方案不同组合的综合比较;(2)提价情况下策略性投标的博弈论建模和分析;(3)两结算、联网系统的数据驱动特征;(4)定价和提价方案的组合。(4)对虚拟交易的效率影响进行理论和实证评估;(5)对虚拟交易的提升分配规则进行分析;(6)设计金融工具和操作范例,以提高情境意识。该奖项反映了NSF的法定使命,并通过使用基金会的知识价值和更广泛的影响审查标准进行评估,被认为值得支持。
项目成果
期刊论文数量(3)
专著数量(0)
科研奖励数量(0)
会议论文数量(0)
专利数量(0)
Quantum computing for power systems: Tutorial, review, challenges, and prospects
电力系统量子计算:教程、回顾、挑战和前景
- DOI:10.1016/j.epsr.2023.109530
- 发表时间:2023
- 期刊:
- 影响因子:3.9
- 作者:Liu, Hualong;Tang, Wenyuan
- 通讯作者:Tang, Wenyuan
Modeling and Analysis of Baseline Manipulation in Demand Response Programs
需求响应计划中基线操纵的建模和分析
- DOI:10.1109/tsg.2021.3137098
- 发表时间:2022
- 期刊:
- 影响因子:9.6
- 作者:Wang, Xiaochu;Tang, Wenyuan
- 通讯作者:Tang, Wenyuan
Decomposing Locational Marginal Prices in Look-Ahead Economic Dispatch
分解前瞻经济调度中的地点边际价格
- DOI:10.1109/naps58826.2023.10318553
- 发表时间:2023
- 期刊:
- 影响因子:0
- 作者:Liu, Hualong;Tang, Wenyuan
- 通讯作者:Tang, Wenyuan
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Wenyuan Tang其他文献
To Overconsume or Underconsume: Baseline Manipulation in Demand Response Programs
过度消费或消费不足:需求响应计划中的基线操纵
- DOI:
10.1109/naps.2018.8600558 - 发表时间:
2018 - 期刊:
- 影响因子:0
- 作者:
Xiaochu Wang;Wenyuan Tang - 通讯作者:
Wenyuan Tang
Adaptive cold-load pickup considerations in 2-stage microgrid unit commitment for enhancing microgrid resilience
- DOI:
10.1016/j.apenergy.2023.122424 - 发表时间:
2024-02-15 - 期刊:
- 影响因子:
- 作者:
Rongxing Hu;Ashwin Shirsat;Valliappan Muthukaruppan;Yiyan Li;Si Zhang;Wenyuan Tang;Mesut Baran;Ning Lu - 通讯作者:
Ning Lu
Chiari Malformations Type I without Basilar Invagination in Adults: Morphometric and Volumetric Analysis
- DOI:
10.1016/j.wneu.2020.08.048 - 发表时间:
2020-11-01 - 期刊:
- 影响因子:
- 作者:
Shengxi Wang;Zhijian Huang;Rui Xu;Zhengbu Liao;Yi Yan;Wenyuan Tang;Yongzhi Xia - 通讯作者:
Yongzhi Xia
A real-time optimization method for thermo-chemical coupled curing process of composites with LSTM network
基于长短期记忆网络的复合材料热化学耦合固化过程实时优化方法
- DOI:
10.1016/j.jmapro.2025.01.072 - 发表时间:
2025-03-30 - 期刊:
- 影响因子:6.800
- 作者:
Wenyuan Tang;Liang He;Xinyu Hui;Yingjie Xu;Rutong Yang;Yutong Liu;Weihong Zhang - 通讯作者:
Weihong Zhang
Chiari malformations type I without basilar invagination in adults: a morphometric and volumetric analysis.
成人无基底凹陷的 I 型 Chiari 畸形:形态测量和体积分析。
- DOI:
- 发表时间:
2020 - 期刊:
- 影响因子:2
- 作者:
Shengxi Wang;Zhijian Huang;Rui Xu;Z. Liao;Yi Yan;Wenyuan Tang;Yongzhi Xia - 通讯作者:
Yongzhi Xia
Wenyuan Tang的其他文献
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{{ truncateString('Wenyuan Tang', 18)}}的其他基金
CPS: Small: Data-Driven Reinforcement Learning Control of Large CPS Networks using Multi-Stage Hierarchical Decompositions
CPS:小型:使用多级分层分解对大型 CPS 网络进行数据驱动的强化学习控制
- 批准号:
1931932 - 财政年份:2020
- 资助金额:
$ 50万 - 项目类别:
Standard Grant
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2010284 - 财政年份:2020
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Applications of non-expected utility to asset pricing theory
非预期效用在资产定价理论中的应用
- 批准号:
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A study on strategies of pricing, competition and information in a non-cooperative bargaining game model
非合作讨价还价博弈模型中的定价策略、竞争策略和信息策略研究
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