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ORGANIZER;CN=Sarah Kurtz:mailto:skurtz@ucmerced.edu
ATTENDEE;ROLE=REQ-PARTICIPANT;PARTSTAT=NEEDS-ACTION;RSVP=TRUE;CN=ldes-corem
 odel@lists.ucmerced.edu:mailto:ldes-coremodel@lists.ucmerced.edu
ATTENDEE;ROLE=REQ-PARTICIPANT;PARTSTAT=NEEDS-ACTION;RSVP=TRUE;CN=ldes-techn
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ATTENDEE;ROLE=REQ-PARTICIPANT;PARTSTAT=NEEDS-ACTION;RSVP=TRUE;CN=ldes-model
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DESCRIPTION;LANGUAGE=en-US:You are invited to join a seminar by Dr. Rajni B
 ansal of UC San Diego.  PLEASE NOTE: This will be two weeks after the semi
 nar by RedFlow\, which will be Oct. 13\n\n\nTitle:   Efficiency and Market
  Power in Electricity Markets with Inelastic Demand\, Energy Storage\, and
  Hybrid Energy Resources\n\n\n\nAbstract:\n\nWe focus on the electricity m
 arket and examine how the competition between different resources\, such a
 s traditional generators\, energy storage\, and hybrid resources\, affects
  market efficiency. We first consider the participation of conventional re
 sources in a two-stage market\, i.e.\, day-ahead and real-time settlement.
  Although designed to allocate resources efficiently\, price manipulation 
 by strategic participants can undermine these goals. To address price mani
 pulation\, some markets have proposed system-level market power mitigation
  policies\, which substitute noncompetitive bids with default bids based o
 n estimated generation costs. Using equilibrium analysis\, we illustrate t
 hat such a policy in the day-ahead stage is more robust to price manipulat
 ions than in real-time\, which may lead to non-equilibrium solutions.\n\n\
 n\nWe then study emerging technologies and analyze how their integration a
 ffects market efficiency. We first analyze the participation of energy sto
 rage. Our analysis indicates that the existing participation mechanism\, w
 here storage bids power in a market\, may diminish market benefits due to 
 its unique operational characteristics\, e.g.\, the operating cost depends
  on charge-discharge cycles\, unlike conventional generators. We propose a
  novel market mechanism based on an energy\n\ncycling function that maps c
 ycle depth to per-cycle prices. We next study the participation of hybrid 
 resources combining energy storage and renewable energy sources. We benchm
 ark the performance of two types of market models: a granular model and an
  integrated model. Our analysis shows that granular models lead to lower o
 perating costs but add computational complexity\, which may not be desirab
 le from the operator’s perspective. Though less computationally intensiv
 e\, integrated models result in more intervals violating the physical limi
 ts of constituent energy storage.\n\n\n\nAuthor Bio:\n\n\n\nRajni Kant Ban
 sal works as a Postdoctoral Researcher at the Center for Energy Research i
 n the University of California San Diego. He has a Ph.D. in Mechanical Eng
 ineering\, and an M.S.E in Applied Mathematics and Statistics from Johns H
 opkins University. During his studies at JHU\, he also worked alongside th
 e Grid Operations and Planning team at the Electric Power Research Institu
 te. Apart from this\, he completed his B.Tech. in Mechanical Engineering f
 rom the Indian Institute of Technology Kanpur and has prior experience as 
 a financial analyst at Credit Suisse Investment Bank.\n\n
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SUMMARY;LANGUAGE=en-US:LDES seminar on Electricity Markets
DTSTART;TZID=Pacific Standard Time:20231027T090000
DTEND;TZID=Pacific Standard Time:20231027T100000
CLASS:PUBLIC
PRIORITY:5
DTSTAMP:20231004T053803Z
TRANSP:OPAQUE
STATUS:CONFIRMED
SEQUENCE:3
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