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Design New Markets

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Data Science and Applications for Modern Power Systems

Part of the book series: Power Electronics and Power Systems ((PEPS))

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Abstract

In the past few chapters, we show how data analytics can solve technical challenges and provide situational awareness for the future. Given the fact that many regions have undergone wholesale deregulation in the electricity sector, solutions will need to be physically viable and compatible with the electricity market environment. With new players in different parts of smart grids, in past markets the need to adapt or extended to fulfill the needs from new market participators. Therefore, based on energy use, the consumers’ flow of money can be analyzed to that they can own for the costs of using their appliances, as discussed in Chap. 2. We will provide a data-driven market design by showing how to limit risks from the generation side and load side. The goal is to design tools for new market for quantifiable and rigorous bound on the risk of violating.

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Authors and Affiliations

  1. Texas A&M University, College Station, USA

    Le **e

  2. Stanford University, Stanford, USA

    Ram Rajagopal

  3. Arizona State University, Tempe, USA

    Yang Weng

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  1. Le **e
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  2. Ram Rajagopal
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  3. Yang Weng
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**e, L., Rajagopal, R., Weng, Y. (2023). Design New Markets. In: Data Science and Applications for Modern Power Systems. Power Electronics and Power Systems. Springer, Cham. https://doi.org/10.1007/978-3-031-29100-5_7

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  • DOI: https://doi.org/10.1007/978-3-031-29100-5_7

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  • Print ISBN: 978-3-031-29099-2

  • Online ISBN: 978-3-031-29100-5

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