This book aims to solve some key problems in the decision and optimization procedure for power market organizers and participants in data-driven approaches. It begins with an overview of the power market data and analyzes on their characteristics and importance for market clearing. Then, the first part of the book discusses the essential problem of bus load forecasting from the perspective of market organizers. The related works include load uncertainty modeling, bus load bad data correction, and monthly load forecasting. The following part of the book answers how much information can be obtained from public data in locational marginal price (LMP)-based markets. It introduces topics such as congestion identification, componential price forecasting, quantifying the impact of forecasting error, and financial transmission right investment. The final part of the book answers how to model the complex market bidding behaviors. Specific works include pattern extraction, aggregated supply curve forecasting, market simulation, and reward function identification in bidding. These methods are especially useful for market organizers to understand the bidding behaviors of market participants and make essential policies. It will benefit and inspire researchers, graduate students, and engineers in the related fields.

Cyber-physical Virtual Power Plants (VPPs), a revolutionary framework designed to harness the collective potential of distributed energy resources (DERs) via communication technologies, are crucial for integrating large of renewable generators into future energy grids securely and cost-effectively. This is the pioneering book that systematically explains and explores the operation and control of VPPs from a cyber-physical perspective. Born out of the authors’ continuous research and engineering practice in the field of VPPs, this book lays the theoretical foundation for the topic and thoroughly presents straightforward solutions to the challenges encountered in cyber-physical VPPs. This book is a useful reference for researchers, graduates, and engineers interested in and working on VPPs, cyber-physical system designs, and Internet of Things applications.

This book aims to solve some key problems in the decision and optimization procedure for power market organizers and participants in data-driven approaches. It begins with an overview of the power market data and analyzes on their characteristics and importance for market clearing. Then, the first part of the book discusses the essential problem of bus load forecasting from the perspective of market organizers. The related works include load uncertainty modeling, bus load bad data correction, and monthly load forecasting. The following part of the book answers how much information can be obtained from public data in locational marginal price (LMP)-based markets. It introduces topics such as congestion identification, componential price forecasting, quantifying the impact of forecasting error, and financial transmission right investment. The final part of the book answers how to model the complex market bidding behaviors. Specific works include pattern extraction, aggregated supply curve forecasting, market simulation, and reward function identification in bidding. These methods are especially useful for market organizers to understand the bidding behaviors of market participants and make essential policies. It will benefit and inspire researchers, graduate students, and engineers in the related fields.

Cyber-physical Virtual Power Plants (VPPs), a revolutionary framework designed to harness the collective potential of distributed energy resources (DERs) via communication technologies, are crucial for integrating large of renewable generators into future energy grids securely and cost-effectively. This is the pioneering book that systematically explains and explores the operation and control of VPPs from a cyber-physical perspective. Born out of the authors’ continuous research and engineering practice in the field of VPPs, this book lays the theoretical foundation for the topic and thoroughly presents straightforward solutions to the challenges encountered in cyber-physical VPPs. This book is a useful reference for researchers, graduates, and engineers interested in and working on VPPs, cyber-physical system designs, and Internet of Things applications.