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dc.contributor.authorWang, J.
dc.contributor.authorKennedy, Scott
dc.contributor.authorKirtley, James L., Jr.
dc.date.accessioned2012-09-06T18:29:42Z
dc.date.available2012-09-06T18:29:42Z
dc.date.issued2010-08
dc.date.submitted2010-06
dc.identifier.isbn978-1-4244-6838-6
dc.identifier.urihttp://hdl.handle.net/1721.1/72552
dc.description.abstractThis paper presents a new two-step design approach of Time-Based Rate (TBR) programs for markets with a high penetration of variable energy sources such as wind power. First, an optimal market time horizon must be determined that balances between production generation forecast accuracy and customers' scheduling flexibility, in order to achieve a minimum system cost in forward and real-time reserve energy markets. The time horizon obtained is used as a known parameter in the subsequent design of TBR's pricing values. Customers' scheduling strategies modeled by price elasticity matrices along with current system conditions are considered in the price calculation process, during which system cost of the forward energy market is minimized.en_US
dc.description.sponsorshipMasdar Institute of Science and Technologyen_US
dc.language.isoen_US
dc.publisherInstitute of Electrical and Electronics Engineers (IEEE)en_US
dc.relation.isversionofhttp://dx.doi.org/10.1109/EEM.2010.5558713en_US
dc.rightsArticle is made available in accordance with the publisher's policy and may be subject to US copyright law. Please refer to the publisher's site for terms of use.en_US
dc.sourceIEEEen_US
dc.titleOptimization of time-based rates in forward energy marketsen_US
dc.typeArticleen_US
dc.identifier.citationWang, J., S. Kennedy, and J. Kirtley. “Optimization of Time-Based Rates in Forward Energy Markets.” 7th International Conference on the European Energy Market 2010 (EEM). 1–7. © Copyright 2010 IEEEen_US
dc.contributor.departmentMassachusetts Institute of Technology. Department of Electrical Engineering and Computer Scienceen_US
dc.contributor.approverKirtley Jr, James L.
dc.contributor.mitauthorWang, J.
dc.contributor.mitauthorKirtley, James L., Jr.
dc.relation.journal7th International Conference on the European Energy Market 2010 (EEM)en_US
dc.eprint.versionFinal published versionen_US
dc.type.urihttp://purl.org/eprint/type/ConferencePaperen_US
dspace.orderedauthorsWang, J.; Kennedy, S.; Kirtley, J.en
dc.identifier.orcidhttps://orcid.org/0000-0002-5347-2410
mit.licensePUBLISHER_POLICYen_US


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