Modelling and Analysing the Market Integration of Flexible Demand and Storage Resources

This book provides carefully designed illustrative examples to explain the profound in simpler terms. The emerging smart grid paradigm has paved the way for the wide introduction of flexible demand (FD) and energy storage (ES) technologies in power systems, with significant economic, technical, and environmental benefits that will facilitate efficient transition to the low-carbon future. In the deregulated energy sector, the realization of the significant FD and ES flexibility potential should be coupled with their suitable integration in electricity markets. In this context, previous studies have proposed market clearing mechanisms considering FD and ES participation and demonstrated their impact on the system operation. However, these studies have neglected fundamental market complexities, such as modeling and pricing FD non-convexities as well as modeling and analyzing the role of FD and ES in imperfect markets. This book is dedicated to address the above challenges through the development of novel computational methodologies. It also provides numerous explanatory figures, tables, algorithm flowcharts, and block diagrams for visual aid, which helps the readers to better grasp the working principles of the developed algorithms as well as to form a comprehensive comparison of results.

Introduction.- Current trends on market integration of flexible demand and energy storage.- Factoring flexible demand non-convexities in electricity markets.- Investigating the impact of flexible demand and energy storage on the exercise of market power by strategic producers in imperfect electricity markets.- Investigating the exercise of market power by strategic flexible demand and energy storage in imperfect electricity markets.- Conclusion and future work.

Dr. Yujian Ye received the M.Sc. degree in control systems and the Ph.D. degree from Imperial College London, London, UK, in 2013 and 2017, respectively. After working as Postdoc Research Associate at the same Institute and also as Consultant Expert at Imperial Consultants during 2017 to 2019, he joined Southeast University, China, as Associate Professor, while also working as Visiting Researcher at Imperial College London since 2021. His current research interests include development and application of artificial intelligence techniques in power and energy systems modeling, analysis and control, and modeling and optimization of economics of power system operation and planning. He has more than 50 peer-reviewed publications, including 23 first-author/corresponding-author high-quality journal publications in Proceedings of IEEEE, IEEE Transactions on Power Systems, IEEE Transactions on Smart Grid, and Applied Energy with a total impact factor of over 120. He has one first-author publication in the world top Artificial Intelligence Conference IJCAI2020. He serves as the Associate Editor for IET Energy Systems Integration and IET Smart Grid and s an Active Reviewer for over 20 international peer-reviewed journals, including multiple IEEE Transactions and Elsevier Journals. He has led and participated multiple multi-partner China, UK, European and International collaborative research, and consultancy projects. He was awarded as Outstanding Reviewer for IEEE Transactions on Power Systems in 2020 and as Outstanding Reviewer for International Journal of Electrical Power and Energy Systems in 2017. He is a Senior Member of IEEE, a Member of IET, Chinese Society of Electrical Engineering, Chinese Association for Artificial Intelligence and Research Fellow of China-Britain Artificial Intelligence Association. He is also Director of the IEEE PES (China) Power System Operation Planning & Economics Satellite Committee, Power Market Subcommittee and Director of IEEE PES (China) Intelligent Grid & Emerging Technologies Satellite Committee, Intelligent Grid and Artificial Intelligence Subcommittee.