Optimal Design of Bilateral Contracts for Energy Procurement

Event Sponsor: 
Mathematics and Computing Science - LANS Seminar
Start Date: 
Apr 8 2015 - 3:00pm
Building/Room: 
Building 240/Room 1404-1405
Location: 
Argonne National Laboratory
Speaker(s): 
Francois Gilbert
Speaker(s) Title: 
Postdoctoral Appointee, MCS

We consider the problem of optimizing the portfolio of an aggregator that interacts with the energy grid via bilateral contracts. The purpose of the contracts is to achieve the point-wise procurement of energy to the grid. The challenge raised by the coordination of scattered resources and the securing of obligations over the planning horizon is addressed through a twin-time scale model, where robust short term operational decisions are contingent on long term resource usage incentives that embed the full extent of contract specifications.