Doctoral Thesis Dissertation "Algorithms for Electronic Power Markets"
Date: November 16, 2004 (Tuesday) at 15:15
In this thesis we focus resource allocation problems and electronic markets in particular. The main application area of ours is electricity markets. We present a number of algorithms and include practical experience.
There is an ongoing restructuring of power markets in Europe and elsewhere, this implies that an industry that previously has been viewed as a natural monopoly becomes exposed to competition. In the thesis we move a step further suggesting that end users should take active part in the trade on power markets such as (i) day-ahead markets and (ii) markets handling close to real-time balancing of power grids. Our ideas and results can be utilised (a) to handle strained situations when power systems operate at their limits. For this we utilise information and communication technology available today and develop electronic market mechanisms designed for large numbers of participants typically distributed over power grid.
The papers of the thesis cover resource allocation with separble objective functions, a market mechanism that accepts actors with discontinuous demand, and mechanisms that allow actors to express combinatioria dependencies between traded commondities on multi-commodity markets. Further we present result from field tests and simulations.
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