Large scale simulations for electric energy markets

Next generation energy markets and applications

“…The U.S. Department of Energy (Energy, 2009) describes the transformation of the grid into the smart grid as "a transformation from a centralized, producer-controlled network to one that is less centralized and more consumer-interactive. A smarter grid makes this transformation possible by bringing the philosophies, concepts, and technologies that enabled the Internet to the utility and the electric grid.…”

“…On the other hand, the emergence of the smart grid provides the active role of the consumers in the operation of the power grid through DR programs. According to Department of Energy in the United States (Energy, 2006), DR is "tariff or program established to motivate changes in electric use by end-use customers in response to changes in the price of electricity over time, or to give incentive payments designed to induce lower electricity use at times of high market prices or when grid reliability is jeopardized". DR programs and their technologies (pricing schemes) are used in this dissertation (Chapter 4, 5, and 6) for monitoring and controlling the behavior of the consumers to the changes of the price.…”

“…In this chapter, an effort considering the analysis, the design and the implementation of next generation energy systems besides of the early proof-of-concept implementation and experimentation of a simulation engine aimed to active (Fainti et al, 2014b), (Tsoukalas et al, 2014), (Fainti et al, 2014a) and reactive (Nasiakou, Vavalis, and Bargiotas, 2015) power markets are described in detail. The proposed engine allows the authors to elucidate issues related to the open and smart participation of producers and consumers on large scale energy markets.…”