Publication

Stable interconnection of continuous-time price-bidding mechanisms with power network dynamics

Stegink, T., Cherukuri, A., De Persis, C., Van Der Schaft, A. & Cortes, J., 20-Aug-2018, 20th Power Systems Computation Conference, PSCC 2018. Institute of Electrical and Electronics Engineers Inc., 6 p. 8443005

Research output: Chapter in Book/Report/Conference proceedingConference contributionAcademicpeer-review

APA

Stegink, T., Cherukuri, A., De Persis, C., Van Der Schaft, A., & Cortes, J. (2018). Stable interconnection of continuous-time price-bidding mechanisms with power network dynamics. In 20th Power Systems Computation Conference, PSCC 2018 [8443005] Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.23919/PSCC.2018.8443005

Author

Stegink, Tjerk ; Cherukuri, Ashish ; De Persis, Claudio ; Van Der Schaft, Arjan ; Cortes, Jorge. / Stable interconnection of continuous-time price-bidding mechanisms with power network dynamics. 20th Power Systems Computation Conference, PSCC 2018. Institute of Electrical and Electronics Engineers Inc., 2018.

Harvard

Stegink, T, Cherukuri, A, De Persis, C, Van Der Schaft, A & Cortes, J 2018, Stable interconnection of continuous-time price-bidding mechanisms with power network dynamics. in 20th Power Systems Computation Conference, PSCC 2018., 8443005, Institute of Electrical and Electronics Engineers Inc., 20th Power Systems Computation Conference, PSCC 2018, Dublin, Ireland, 11/06/2018. https://doi.org/10.23919/PSCC.2018.8443005

Standard

Stable interconnection of continuous-time price-bidding mechanisms with power network dynamics. / Stegink, Tjerk; Cherukuri, Ashish; De Persis, Claudio; Van Der Schaft, Arjan; Cortes, Jorge.

20th Power Systems Computation Conference, PSCC 2018. Institute of Electrical and Electronics Engineers Inc., 2018. 8443005.

Research output: Chapter in Book/Report/Conference proceedingConference contributionAcademicpeer-review

Vancouver

Stegink T, Cherukuri A, De Persis C, Van Der Schaft A, Cortes J. Stable interconnection of continuous-time price-bidding mechanisms with power network dynamics. In 20th Power Systems Computation Conference, PSCC 2018. Institute of Electrical and Electronics Engineers Inc. 2018. 8443005 https://doi.org/10.23919/PSCC.2018.8443005


BibTeX

@inproceedings{c03e8e3594f04459a23f5dbfa13c076a,
title = "Stable interconnection of continuous-time price-bidding mechanisms with power network dynamics",
abstract = "We study price-based bidding mechanisms in power networks fo r real-time dispatch and frequency regulation. On the market side, we consider the interaction between the independent system operator (ISO) and a group of generators involved in a Bertrand game of competition. The generators seek to maximize their individual profit while the ISO aims to solve the economic dispatch problem and to regulate the frequency. Since the generators are strategic and do not share their cost functions, the ISO engages the generators in a continuous-time price-based bidding process. This results in a coupling between the ISO-generator dynamics and swing dynamics of the network. We analyze its stability, establishing frequency regulation and the convergence to the efficient Nash equilibrium and the optimal generation levels. Simulation illustrate our results.",
keywords = "Bertrand competition, Economic dispatch, Electricity markets, Lyapunov stability, Power system dynamics",
author = "Tjerk Stegink and Ashish Cherukuri and {De Persis}, Claudio and {Van Der Schaft}, Arjan and Jorge Cortes",
year = "2018",
month = "8",
day = "20",
doi = "10.23919/PSCC.2018.8443005",
language = "English",
isbn = "978-1-5386-1583-6",
booktitle = "20th Power Systems Computation Conference, PSCC 2018",
publisher = "Institute of Electrical and Electronics Engineers Inc.",

}

RIS

TY - GEN

T1 - Stable interconnection of continuous-time price-bidding mechanisms with power network dynamics

AU - Stegink, Tjerk

AU - Cherukuri, Ashish

AU - De Persis, Claudio

AU - Van Der Schaft, Arjan

AU - Cortes, Jorge

PY - 2018/8/20

Y1 - 2018/8/20

N2 - We study price-based bidding mechanisms in power networks fo r real-time dispatch and frequency regulation. On the market side, we consider the interaction between the independent system operator (ISO) and a group of generators involved in a Bertrand game of competition. The generators seek to maximize their individual profit while the ISO aims to solve the economic dispatch problem and to regulate the frequency. Since the generators are strategic and do not share their cost functions, the ISO engages the generators in a continuous-time price-based bidding process. This results in a coupling between the ISO-generator dynamics and swing dynamics of the network. We analyze its stability, establishing frequency regulation and the convergence to the efficient Nash equilibrium and the optimal generation levels. Simulation illustrate our results.

AB - We study price-based bidding mechanisms in power networks fo r real-time dispatch and frequency regulation. On the market side, we consider the interaction between the independent system operator (ISO) and a group of generators involved in a Bertrand game of competition. The generators seek to maximize their individual profit while the ISO aims to solve the economic dispatch problem and to regulate the frequency. Since the generators are strategic and do not share their cost functions, the ISO engages the generators in a continuous-time price-based bidding process. This results in a coupling between the ISO-generator dynamics and swing dynamics of the network. We analyze its stability, establishing frequency regulation and the convergence to the efficient Nash equilibrium and the optimal generation levels. Simulation illustrate our results.

KW - Bertrand competition

KW - Economic dispatch

KW - Electricity markets

KW - Lyapunov stability

KW - Power system dynamics

UR - http://www.scopus.com/inward/record.url?scp=85054029731&partnerID=8YFLogxK

U2 - 10.23919/PSCC.2018.8443005

DO - 10.23919/PSCC.2018.8443005

M3 - Conference contribution

SN - 978-1-5386-1583-6

BT - 20th Power Systems Computation Conference, PSCC 2018

PB - Institute of Electrical and Electronics Engineers Inc.

ER -

ID: 96182472