ISyE Seminar

Event Details
  • Date/Time:
    • Thursday February 26, 2015 - Friday February 27, 2015
      10:00 am - 9:59 am
  • Location: Executive Conference Room 228 Main
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Andy Sun


Summary Sentence: ISyE Seminar

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TITLE:  Pricing non-convexities in an electricity pool: An non-orthodox primal-dual approach

SPEAKER: Antonio Conejo


Electricity pools are generally cleared through auctions that are conveniently formulated as mixed-integer linear programming problems. Since a mixed-integer linear programming problem is non-continuous and non-convex, marginal prices cannot be easily derived. However, to trade electricity, prices are needed. Thus, a relevant question arises: how to generate appropriate prices? This paper addresses this important issue and proposes a primal-dual approach to derive efficient revenue adequate uniform prices that guarantee that dispatched producers are willing to remain in the market. Such prices may not significantly deviate from the marginal prices obtained if integrality conditions are relaxed in the original mixed-integer linear programming problem.

 Speaker bio: Antonio J. Conejo, professor at The Ohio State University, OH, US, received the M.S. from MIT and the Ph.D. from the Royal Institute of Technology, Sweden. He has published over 150 papers in SCI journals and is the author or coauthor of books published by Springer, John Wiley, McGraw-Hill and CRC. He has been the principal investigator of many research projects financed by public agencies and the power industry and has supervised 18 PhD theses. He is the Editor-in-Chief of the IEEE Transactions on Power Systems and an IEEE Fellow.

Additional Information

In Campus Calendar

School of Industrial and Systems Engineering (ISYE)

Invited Audience
Undergraduate students, Faculty/Staff, Graduate students
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  • Created By: Anita Race
  • Workflow Status: Published
  • Created On: Feb 20, 2015 - 4:51am
  • Last Updated: Apr 13, 2017 - 5:19pm