This workshop covers the basic theory of Mean-field games (MFG) and their applications to optimization problems in the energy industry and environmental sciences. The workshop aims to bring together experts in the field of MFG and researchers interested in its applications. Participants will learn about the role of flexible demand technologies in addressing challenges in decarbonization and deregulation of electricity systems. The workshop will include talks by engineers working on distributed optimization problems where MFG could be applied. The intended audience includes professionals and researchers in the energy industry, environmental sciences, and optimization fields. The teaching method involves lectures and discussions on MFG theory and its practical applications in the energy sector.
Role of Flexible Demand Technology in Modern Electricity Markets - A Game-Theoretic Perspective
Alan Turing Institute via YouTube
Overview
Syllabus
Intro
Electricity systems: Decarbonisation of generation and demand
Decarbonisation challenges
Role of demand side in addressing emerging challenges
System benefits of flexible demand technologies
Electricity systems: Deregulation
Deregulation challenges
Modelling framework: Bi-level optimization
Non-cooperative game: Finding Nash Equilibria (NE)
Impact on producers' market power
Impact on retailers' business case
Impact on generation investment planning
Future work directions in deregulated market modelling
Taught by
Alan Turing Institute
