Integrated Retail and Wholesale (IRW) Power System Operations
with Smart Grid Functionality: Project Homepage


Last Updated: 10 April 2013

Site maintained by:
Leigh Tesfatsion
Professor of Economics, Mathematics,
   & Electrical and Computer Engineering
Economics Department/375 Heady
Iowa State University
Ames, Iowa 50011-1070
http://www.econ.iastate.edu/tesfatsi/
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Integrated Retail/Wholesale Power Markets

Table of Contents:

Regular Weekly Meeting Time/Place for Full IRW Project Group:

2013 Spring Semester Meetings:   Thursday, 4-5pm, 3138 Coover

General IRW Project Information

IRW Project Description:

The primary goal of this project is the development and implementation of an agent-based test bed for the study of integrated retail and wholesale (IRW) electric power markets operating over transmission and distribution grids with smart-grid functionality. The IRW test bed links together: (i) the AMES Wholesale Power Market Test Bed, developed by a group of researchers at Iowa State University; and (ii) distribution feeders developed by the IRW research group and by GridLAB-D researchers with the U.S. Department of Energy at Pacific Northwest National Laboratory (PNNL).

The IRW test bed is currently being used to conduct systematic computational experiments focusing on the IRW power system effects and policy implications of three key smart-grid developments: (1) increased penetration of dynamic-price contracts for retail electric energy customers permitting them to adjust their demands to actual energy costs; (2) increased penetration of variable generation (e.g., wind and solar power); and (3) increased penetration of plug-in electric vehicles (PEV).

IRW Project Overview (pdf,968KB).

Agent-Based Modeling of Electric Power Markets: (pdf,2.5MB), DARPA/ISAT Workshop, Boston, MA, July 2010.


IRW Project Participants:

IRW Group Picture

Dionysios Aliprantis (Assistant Professor of ECpE, ISU, 1124 Coover, Office Tel: 515-294-7387)
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Chengrui Cai (RA, ECpE PhD program, ISU, 1207 Coover)
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Dave Chassin (Staff Scientist, PNNL, Office Tel: 509-375-4369)
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Deung-Yong Heo (Sandia Project RA, Econ PhD Program, ISU)

Pedram Jahangiri (EPRC RA, ECpE PhD program, ISU, Coover)
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Dheepak Krishnamurthy (ARPA-E RA, ECpE M.S. Program, ISU)
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Hongyan Li (Consulting Engineer, ABB Inc., Raleigh, NC; ISU ECpE PhD 2009)
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Sean Mooney (Sandia Project RA, CS PhD Program, ISU)

Wanning Li (ARPA-E RA, ECpE PhD program, ISU, Coover)
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Leigh Tesfatsion (Professor of Econ, Math, and ECpE, ISU, 375 Heady)
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Auswin George Thomas (EPRC RA, ECpE MS/PhD Program, ISU)
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Di Wu (Power Engineer, PNNL, ISU ECpE PhD 2012)
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Huan Zhao (Market Analyst, ISO-NE, ISU Econ PhD 2011)
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Supporting Projects

ARPA-E/DOE Project (Stochastic SCUC/SCED Formulation):
Sponsor: ARPA-E/Department of Energy
Title: "Improved Power System Operations Using Advanced Stochastic Optimization"
Co-Principal Investigators: Dionysios Aliprantis and Leigh Tesfatsion
Date of Award: Funding Start Date - February 24, 2012
Duration of Award: Two Years (Phase One)

Sandia Project (Ancillary Services):
Sponsor: Sandia National Laboratories (SNL)
Title: "Market Design for Energy, Ancillary and Reliability Services in Wholesale Electric Power Markets"
Principal Investigator: Leigh Tesfatsion
Date of Award: Funding Start Date - July 2011
Duration of Award: Annual Contract

EPRC Project (Integrated Retail/Wholesale Power Systems):
Sponsor: Electric Power Research Center (EPRC)
Title: "Integrated Retail and Wholesale Power System Operation with Smart-Grid Functionality"
Principal Investigators: Dionysios Aliprantis and Leigh Tesfatsion
Date of Award: Funding Start Date - August 2010
Duration of Award: Three years

PNNL Project (Integrated Retail/Wholesale Power Markets):
Sponsor: Pacific Northwest National Laboratory/Battelle
Title: "A Test Bed for the Integrated Experimental Study of Retail and Wholesale Power Market Designs"
Principal Investigator: Leigh Tesfatsion
Date of Award: Funding Start Date - June 2009
Duration of Award: Four years

EPRC Project (Risk Management in Electric Power Systems):
Sponsor: Electric Power Research Center (EPRC)
Title: "Financial and Operational Risk Management in Restructured Wholesale Power Markets"
Principal Investigator: Leigh Tesfatsion
Date of Award: Funding Start Date - August 2009
Duration of Award: Three years

NSF Project (National Energy and Transportation Infrastructures):
Sponsor: National Science Foundation
Title: "21st Century National Energy and Transportation Infrastructures: Balancing Sustainability, Costs, and Resiliency (NETSCORE-21)"
Co-Principal Investigator: Dionysios Aliprantis
Date of Award: Funding Start Date - August 1, 2008
Duration of Award: Four years

IRW Project-Related Working Papers and Publications

Working Papers:

L. Tesfatsion and D. C. Aliprantis, "ISO/RTO-Determined Virtual Offers and Bids for Improved Day-Ahead Market Operations", Working Paper No. 12012, Department of Economics, ISU, June 2012, revised November 2012, under journal revise and resubmit.

Publications:

Qun Zhou, Leigh Tesfatsion, Chen-Ching Liu, Ron F. Chu, and Wei Sun, "A Nash Approach to Planning Merchant Transmission Renewable Resource Integration", IEEE Transactions on Power Systems, 2013, to appear.

Auswin G. Thomas, Pedram Jahangiri, Di Wu, Chengrui Cai, Huan Zhao, Dionysios C. Aliprantis, and Leigh Tesfatsion, "Intelligent Residential Air-Conditioning System with Smart-Grid Functionality", IEEE Transactions on Smart Grid, Vol. 3, No. 4, December 2012, 2240-2251.

Di Wu, Dionysios C. Aliprantis, and Lei Ying, "Load Scheduling and Dispatch for Aggregators of Plug-in Electric Vehicles" (pdf,470KB), IEEE Transactions on Smart Grid, Special Issue on Transportation Electrification and Vehicle-to-Grid Applications, Vol. 3, No. 1, Feb 2012, 368-376.

Hongyan Li and Leigh Tesfatsion, "Co-Learning Patterns as Emergent Market Phenomena: An Electricity Market Illustration" (WP pdf, 1.5MB), Journal of Economic Behavior and Organization, Vol. 82, Issue 2-3, 2012, 395-419.

Nanpeng Yu, Leigh Tesfatsion, and Chen-Ching Liu, "Financial Bilateral Contract Negotiation in Wholesale Power Markets using Nash Bargaining Theory" (WP pdf, 772KB), IEEE Transactions on Power Systems, Vol. 27, No. 1, February 2012, 251-267.

Pedram Jahangiri, Di Wu, Wanning Li, Dionysios C. Aliprantis, and Leigh Tesfatsion, "Development of an Agent-Based Distribution Test Feeder with Smart-Grid Functionality" (preprint pdf,386KB), Proceedings of the IEEE Power and Energy Society General Meeting, San Diego, CA, July 22-26, 2012 (electronic).

Auswin George Thomas, Chengrui Cai, Dionysios C. Aliprantis, and Leigh Tesfatsion, "Effects of Price-Responsive Residential Demand on Retail and Wholesale Power Market Operations" (preprint pdf,218KB), Proceedings of the IEEE Power and Energy Society General Meeting, San Diego, CA, July 22-26, 2012 (electronic).

Qun Zhou, Leigh Tesfatsion, and Chen-Ching Liu, "Short-Term Congestion Forecasting in Wholesale Power Markets" (WP pdf, 295KB), IEEE Transactions on Power Systems, Vol. 26, No. 4, 2011, 2185-2196.

Di Wu, Dionysios C. Aliprantis, and Konstantina Gkritza, "Electric Energy and Power Consumption by Light-Duty Plug-in Electric Vehicles" (pdf,560KB) IEEE Transactions on Power Systems, Volume 26, No. 2, 2011, 738-746. Abstract in IEEEXplore.

Hongyan Li and Leigh Tesfatsion, "ISO Net Surplus Collection and Allocation in Wholesale Power Markets Under Locational Marginal Pricing" (WP Preprint, pdf, 816KB), IEEE Transactions on Power Systems, Vol. 26, No. 2, 2011, 627-641.

Di Wu, Chengrui Cai, and Dionysios C. Aliprantis, "Potential Impacts of Aggregator-Controlled Plug-in Electric Vehicles on Distribution Systems", in Proceedings of the IEEE International Workshop Comp. Adv. Multi-Sensor Adapt. Proc. (CAMSAP), San Juan, Puerto Rico, Dec. 15, 2011.

Di Wu, Dionysios C. Aliprantis, and Lei Ying, "On the Choice between Uncontrolled and Controlled Charging by Owners of PHEVs" (pdf,118KB), IEEE Transactions on Power Delivery, Vol. 26, No. 4, October 2011, 2282-2284. Abstract in IEEEXplore..

Hongyan Li, Junjie Sun, and Leigh Tesfatsion, "Testing Institutional Arrangements via Agent-Based Modeling: A U.S. Electricity Market Application" (WP pdf, 2.2MB), pp. 135-158 in H. Dawid and W. Semmler (Eds.), Computational Methods in Economic Dynamics, Dynamic Modeling and Econometrics in Economics and Finance 13, Springer, 2011.

Chengrui Cai, Pedram Jahangiri, Auswin George Thomas, Huan Zhao, Dionysios C. Aliprantis, and Leigh Tesfatsion, "Agent-Based Simulation of Distribution Systems with High Penetration of Photovoltaic Generation" (WP pdf, 30KB), Proceedings of the IEEE Power and Energy Society General Meeting, Detroit, MI, July 2011 (electronic).

Huan Zhao, Auswin George Thomas, Pedram Jahangiri, Chengrui Cai, Leigh Tesfatsion, and Dionysios C. Aliprantis, "Two-Settlement Electric Power Markets with Dynamic-Price Customers" (WP pdf, 64KB), Proceedings of the IEEE Power and Energy Society General Meeting, Detroit, MI, July 2011 (electronic).

Dionysios Aliprantis, Scott Penick, Leigh Tesfatsion, and Huan Zhao, "Integrated Retail and Wholesale Power System Operation with Smart-Grid Functionality" (WP pdf, 518KB), Proceedings of the IEEE Power and Energy Society General Meeting, Minneapolis, MN, July 2010 (electronic).

Dionysios Aliprantis, Leigh Tesfatsion, and Huan Zhao, "An Agent-Based Test Bed for the Integrated Study of Retail and Wholesale Power System Operations" (WP pdf, 397KB), AAMAS Proceedings, Ninth International Conference on Autonomous Agents and Multiagent Systems, Toronto, Canada, May 2010.

IRW Project-Related Presentations to External Groups (Ordered by Scheduled Date of Presentation)

Pedram Jahangiri, Di Wu, Wanning Li, Dionysios C. Aliprantis, and Leigh Tesfatsion, "Development of an Agent-Based Distribution Test Feeder with Smart-Grid Functionality", IEEE Power and Energy Society General Meeting, San Diego, CA, July 22-26, 2012.

Auswin George Thomas, Chengrui Cai, Dionysios C. Aliprantis, and Leigh Tesfatsion, "Effects of Price-Responsive Residential Demand on Retail and Wholesale Power Market Operations" IEEE Power and Energy Society General Meeting, San Diego, CA, July 22-26, 2012.

Abhishek Somani, Huan Zhao, Leigh Tesfatsion, and Nivad Navid, "Wind Power Trading by Firms with Mixed Generation Portfolios", invited talk for the Institute for Operations Research and Management Science (INFORMS) meeting, Charlotte, North Carolina, November 2011.

Chengrui Cai, Pedram Jahangiri, Auswin Thomas, Huan Zhao, Dionysios Aliprantis, Leigh Tesfatsion, "Agent-Based Simulation of Distribution Systems with High Penetration of Photovoltaic Generation", IEEE Power and Energy Society General Meeting, Detroit, MI, July 24-30, 2011.

Huan Zhao, Auswin Thomas, Pedram Jahangiri, Chengrui Cai, Leigh Tesfatsion, Dionysios Aliprantis, "Two-Settlement Electric Power Markets with Dynamic-Price Customers", IEEE Power and Energy Society General Meeting, Detroit, MI, July 24-30, 2011

Chengrui Cai and Leigh Tesfatsion, IRW Project Progress Report, Pacific Northwest National Laboratory, Richland, Washington, July 18, 2011.

Abhishek Somani, Huan Zhao, Leigh Tesfatsion, and Nivad Navid, "Wind Power Trading by Firms with Mixed Generation Portfolios", invited talk for the 17th International Conference on Computing in Economics and Finance (CEF'11), San Francisco, June 29-July 1, 2011.

Leigh Tesfatsion, "Integrated Retail and Wholesale Power System Operations with Smart-Grid Functionality", NSF Workshop: Engineering and Social Response to the Energy-Climate Nexus, Arlington, VA, June 23-24, 2011.

Leigh Tesfatsion, "ISO Net Surplus Collection and Allocation in Restructured North American Wholesale Power Markets", ASSA/American Economic Association Meetings, January 7-9, Denver, CO, 2011.

Huan Zhao "Strategic Buying Behavior of Retail Suppliers in Wholesale Power Markets: Experimental Findings Using an Agent-Based Test Bed", invited talk for the Institute for Operations Research and Management Science (INFORMS) meeting, October 2010.

Dionysios Aliprantis and Leigh Tesfatsion, "Project Overview: Integrated Retail/Wholesale Power System Operation with Smart-Grid Functionality", MidAmerican Energy, Des Moines, IA, Tuesday, August 10, 2010.

Huan Zhao, "Integrated Retail and Wholesale Power System Operation with Smart-Grid Functionality" IEEE Power and Energy Society General Meeting, Minneapolis, MN, July 25-29, 2010.

Leigh Tesfatsion, "Agent-Based Modeling of Electric Power Markets", DARPA/ISAT Workshop on Societal Resilience, MIT RLE Conference Center, Cambridge, MA, July 12-13, 2010

Leigh Tesfatsion, "An Agent-Based Test Bed for the Integrated Study of Retail and Wholesale Power System Operations", Agent Technologies for Energy Systems (ATES) Workshop, Ninth International Conference on Autonomous Agents and Multiagent Systems, Toronto, Canada, May 2010.

Software

AMES Wholesale Power Market Test Bed (Java)

The AMES Wholesale Power Market Test Bed, developed entirely in Java by Hongyan Li, Junjie Sun, and Leigh Tesfatsion, is an extensible and modular agent-based computational laboratory for studying the dynamic efficiency and reliability of wholesale power markets restructured in accordance with guidelines issued by the U.S. Federal Energy Regulatory Commission. AMES models strategically-learning traders interacting over time in an ISO-managed wholesale power market operating over a transmission grid subject to congestion effects. Congestion on the grid is managed by means of locational marginal prices derived from optimal power flow solutions.

AMES is a free open source tool suitable for research, teaching, and training applications. It is designed for the intensive experimental study of small to medium-sized systems. A graphical user interface permits the creation, modification, analysis and storage of scenarios, parameter initialization and editing, specification of behavioral rules (e.g. learning methods) for market participants, and output reports through table and chart displays. AMES is an acronym for Agent-based Modeling of Electricity Systems.



GridLAB-D: Electric Energy Distribution Platform (C++/C)

GridLAB-D is a power distribution simulation platform developed by the U.S. Department of Energy at Pacific Northwest National Laboratory (PNNL) in Richland, Washington.

PNNL maintains a GridLAB-D Site at SourceForge.

Background Materials

PROJECT MEETING PRESENTATIONS:

Online Resource Materials

Miscellaneous