This volume consists of selected essays by participants of the workshop Control at Large Scales: Energy Markets and Responsive Grids held at the Institute for Mathematics and its Applications, Minneapolis, Minnesota, U.S.A. from May 9-13, 2016. The workshop brought together a diverse group of experts to discuss current and future challenges in energy markets and controls, along with potential solutions. The volume includes chapters on significant challenges in the design of markets and incentives, integration of renewable energy and energy storage, risk management and resilience, and distributed and multi-scale optimization and control. Contributors include leading experts from academia and industry in power systems and markets as well as control science and engineering. This volume will be of use to experts and newcomers interested in all aspects of the challenges facing the creation of a more sustainable electricity infrastructure, in areas such as distributed and stochastic optimization and control, stability theory, economics, policy, and financial mathematics, as well as in all aspects of power system operation.

Social Impacts of Smart Grids: The Future of Smart Grids and Energy Market Design explores the significant, unexplored societal consequences of our meteoric evolution towards intelligent, responsive and sustainable power generation and distribution systems-the so-called 'smart grid'. These consequences include new patterns of consumption behavior, systems planning under increasing uncertainty, and the ever- growing complexities involved. The work covers the historical impact of the transformation, examines the changing role of production and consumption behavior, articulates the principles and options for socially responsible smart grid power market design, and explores social acceptance of the smart grid. Where relevant, it examines adjacent literatures from P2P electricity markets, electric vehicles, smart homes and smart cities, and related 'internet of energy' developments. Finally, it provides insights into mitigating the likely social consequences of our integrated low-carbon energy future.

Provides comprehensive information on swing contracts for flexible reserve provision in wholesale power markets This book promotes a linked swing-contract market design for centrally-managed wholesale power markets to facilitate increased reliance on renewable energy resources and demand-side participation. The proposed swing contracts are firm or option two-part pricing contracts permitting resources to offer the future availability of dispatchable power paths (reserve) with broad types of flexibility in their power attributes. A New Swing-Contract Design for Wholesale Power Markets begins with a brief introduction to the subject, followed by two chapters that cover: general goals for wholesale power market design; history, operations, and conceptual concerns for current U.S. RTO/ISO-managed wholesale power markets; and the relationship of the present study to previous swing-contract research. The next eight chapters cover: a general swing-contract formulation for centrally-managed wholesale power markets; illustrative swing-contract reserve offers; swing- inclusion of reserve offers with price swing; inclusion of price-sensitive reserve bids; and extension to a linked collection of swing-contract markets. Operations in current U.S. RTO/ISO-managed markets are reviewed in the following four chapters, and conceptual and practical advantages of the linked swing-contract market design are carefully considered. The book concludes with an examination of two key issues: How might current U.S. RTO/ISO-managed markets transition gradually to a swing-contract form? And how might independent distribution system operators, functioning as linkage entities at transmission and distribution system interfaces, make use of swing contracts to facilitate their participation in wholesale power markets as providers of ancillary services harnessed from distribution-side resources? In addition, this title: Addresses problems with current wholesale electric power markets by developing a new swing-contract market design from concept to practical implementation Provides introductory chapters that explain the general principles motivating the new market design, hence why a new approach is required Develops a new type of swing contract suitable for wholesale power markets with increasing reliance on renewable energy and active demand-side participation A New Swing-Contract Design for Wholesale Power Markets is an ideal book for electric power system professionals and for students specializing in electric power systems.

Handbook of Computational Economics: Heterogeneous Agent Modeling, Volume Four, focuses on heterogeneous agent models, emphasizing recent advances in macroeconomics (including DSGE), finance, empirical validation and experiments, networks and related applications. Capturing the advances made since the publication of Volume Two (Tesfatsion & Judd, 2006), it provides high-level literature with sections devoted to Macroeconomics, Finance, Empirical Validation and Experiments, Networks, and other applications, including Innovation Diffusion in Heterogeneous Populations, Market Design and Electricity Markets, and a final section on Perspectives on Heterogeneity. - Helps readers fully understand the dynamic properties of realistically rendered economic systems - Emphasizes detailed specifications of structural conditions, institutional arrangements and behavioral dispositions - Provides broad assessments that can lead researchers to recognize new synergies and opportunities

These proceedings contain research papers that were accepted for presentation at the 14th International Conference Inter-Eng 2020 ,Interdisciplinarity in Engineering, which was held on 8–9 October 2020, in Târgu Mureș, Romania. It is a leading international professional and scientific forum for engineers and scientists to present research works, contributions, and recent developments, as well as current practices in engineering, which is falling into a tradition of important scientific events occurring at Faculty of Engineering and Information Technology in the George Emil Palade University of Medicine, Pharmacy Science, and Technology of Târgu Mures, Romania. The Inter-Eng conference started from the observation that in the 21st century, the era of high technology, without new approaches in research, we cannot speak of a harmonious society. The theme of the conference, proposing a new approach related to Industry 4.0, was the development of a new generation of smart factories based on the manufacturing and assembly process digitalization, related to advanced manufacturing technology, lean manufacturing, sustainable manufacturing, additive manufacturing, and manufacturing tools and equipment. The conference slogan was “Europe’s future is digital: a broad vision of the Industry 4.0 concept beyond direct manufacturing in the company”.

This thesis deals with two important and very timely aspects of the future power system operation - assessment of demand flexibility and advanced demand side management (DSM) facilitating flexible and secure operation of the power network. It provides a clear and comprehensive literature review in these two areas and states precisely the original contributions of the research. The book first demonstrates the benefits of data mining for a reliable assessment of demand flexibility and its composition even with very limited observability of the end-users. It then illustrates the importance of accurate load modelling for efficient application of DSM and considers different criteria in designing DSM programme to achieve several objectives of the network performance simultaneously. Finally, it demonstrates the importance of considering realistic assumptions when planning and estimating the success of DSM programs. The findings presented here have both scientific and practical significance; they gained her BSc and MSc degrees in electrical engineering from the University of Belgrade in 2011 and 2012 respectively. She graduated with her PhD from the University of Manchester. She has presented at several conferences, and has won runner-up prizes in poster presentation at three. She has authored or co-authored more than 40 journal, conference and technical papers.provide a basis for further research, and can be used to guide future applications in industry.