In accordance with Massachusetts regulations, strict restrictions are in effect for in-person campus events. Most of the the events listed here are taking place remotely on Zoom and other online platforms. See each listing for details. All times are United States Eastern Time Zone.

UMass INFORMS Speaker Series - Talk by Dr. Golbon Zakeri

Event Details

November 1, 2019
11:00 am-12:00 pm

Isenberg School of Management

Room: N135

UMass Amherst Campus

Handicap access available
Free admission

Title: Pricing intermittent renewable generation using stochastic flexi-auctions.

With ever increasing penetration of renewable generation and electricity intensive consumption (such as electric vehicles), the uncertainty faced by electricity markets is rapidly increasing. Conventional deterministic auctions will produce dispatches where then expensive real-time adjustments need to be made to ensure demand is met as uncertainty takes on a realization. We propose a new stochastic-programming marketclearing mechanism to optimize predispatch quantities given the uncertainties’ probability distribution and the costs of real-time deviation. We establish some revenue adequacy, welfare enhancement, and cost recovery properties for our auction mechanism. We also establish that this market-clearing mechanism is social-welfare optimizing. This presentation is based on a sequence of recent papers by the speaker and her co-authors.