This study explores strategies for dynamic pricing and flexible refund fee setting in railway line services, aiming to optimize ticket sales revenue by integrating refund mechanisms into the revenue management framework. By introducing a consistent c...
Flexibility is advocated as an effective solution to address the growing need to alleviate grid congestion, necessitating efficient energy management strategies for industrial operations. This paper presents a mixed-integer linear programming (MILP)-...
To achieve “carbon peak and carbon neutrality” in manufacturing, this paper tackles high energy consumption in flexible job shop production by developing a low-carbon scheduling optimization model with time-of-use electricity pricing, inc...
The flexible job-shop scheduling problem with indirect energy and time-of-use (ToU) electricity pricing (FJSP-IT) is investigated. Considering the production cost, which includes the indirect energy cost, direct energy cost and time cost, the cost ev...
Exploration of the green flexible job-shop scheduling problem is essential for enterprises aiming for sustainable practices, including energy conservation, emissions reduction, and enhanced economic and social benefits. While existing research has pr...
Optimizing the train plan for high-speed rail systems should consider both the passengers’ demands and enterprise’s benefits. The choice of the departure time period is the most important factor affecting the passenger demand distribution...
Electricity price uncertainty directly affects the economy and reliability of scheduling, especially when flexible loads are scheduled only according to point forecasts. To improve the coupling between price forecasting uncertainty and load schedulin...
This paper studies a dynamic price adjustment system in platform markets, where sellers continuously revise prices, and examines its implications for market stability. We develop a platform-led discrete-time Stackelberg game model to describe the evo...
To coordinate the supply chain risk caused by demand uncertainty, this paper proposed a flexible return strategy under demand uncertainty, in which the retailer can choose return quantity independently by put option after the selling season, while th...
The economic viability of renewable energy generation is vital for sustainability. Ensuring that optimal operation is always achieved, using energy management systems and control algorithms, is essential in this endeavor. Here, a new real-time pricin...
Bitcoin mining is a highly energy-intensive process whose economic sustainability depends on the complex interplay of electricity prices, Bitcoin prices, operating mode and technological efficiency. This paper analyses these relationships through sim...
This research paper analyses the evolution of electricity price volatility in six European countries between 2015 and 2025, focusing on the relationship between the increasing penetration of renewable energy sources (RES) and short-term price fluctua...
Under the increasing pressure of global emission reduction, prefabricated buildings are becoming more and more popular. As prefabricated building manufacturers and assemblers are emerging in the market, how do they make decisions of pricing, ordering...
Recently, given the increased integration of renewables and growing uncertainty in demand, the wholesale market price has become highly volatile. Energy communities connected to the main electricity grid may be exposed to this increasing price volati...
China has declared ambitious carbon emission reduction targets and will integrate increasing shares of variable renewables for the next decades. The implementation for flexibility modification of thermal power units and deep peak regulation ancillary...
Demand response (DR) can potentially provide a cost-efficient alternative for balancing the electricity grid by replacing fossil-fuelled power plants for the provision of flexible capacity. This paper aims to quantify the cost reduction potential of...
Centralized hot water systems in university dormitories can provide significant energy flexibility through demand response (DR). Thus far, however, existing studies have mainly focused on system-level optimization and have failed to provide a quantit...
Time-of-use pricing in retail electricity markets implies that wholesale market scarcity becomes easily communicated to end consumers. Yet, it is not well-understood if and how the price formation process in retail electricity markets will help to re...
We extend the analysis on hedging with price and output uncertainty by endogenizing the output decision. Specifically, we consider the joint determination of output and hedging in the case of flexibility in production. We show that the risk-averse fi...
The increasing share of renewable energy sources in energy systems will lead to unpredictable moments of surplus/deficit in energy production. To address this issue, users with heat pumps can provide support to power grid operators through flexible u...
With the large-scale integration of renewable energy and the deepening of electricity market reform, uncertainty in power system operation has increased significantly. This creates new challenges for multiple generation companies when they work toget...
Pumped hydro storage remains one of the most established technologies for balancing supply and demand in electricity markets with high shares of renewable energy. This paper investigates the short-term economic optimization of a pumped hydro storage...
The growing penetration of variable renewable energy (VRE) is increasing the frequency of very low and negative prices, although these events also depend on demand, transmission capacity, price-regime persistence and flexibility resources. This study...
The bidirectional uncertainty of source and load creates scarcity in the reserve resources of the distribution network. Therefore, it is highly significant for the safe and economic operation of the system to harness spare energy storage capacity fro...
Electricity supply chains involve more sources of uncertainty than typical production and manufacturing supply chains, owing to the intermittent nature of renewable energy generation. Therefore, it is critical but challenging to mitigate supply disru...
Demand-responsive control of electrically heated hot water storage tanks (HWSTs) is one solution, already present in the building stock, to stabilise volatile energy networks and markets. This has been put into sharp focus with the current energy cri...
This study addresses the increasing need for flexibility in the Polish Power System (PPS), particularly in the context of growing price volatility on the Day-Ahead Market (DAM) resulting from the rising share of renewable energy sources (RESs). The a...
The adoption of electric vehicles is incentivized by governments around the world to decarbonize the mobility sector. Simultaneously, the continuously increasing amount of renewable energy sources and electric devices such as heat pumps and electric...
This paper addresses the critical challenges of renewable energy integration and regional power balance in smart grids, which have become increasingly complex with the rapid growth of distributed energy resources. It proposes a novel three-layer sche...
Dynamic demand response (DDR) is the process of shifting power consumption towards periods of lower demand based on real-time energy pricing data. It is a flexibility measure utilised in the decarbonisation of the UK’s power system to reduce pe...
The EU energy and climate policy has set quantitative goals for decarbonization based on the energy efficiency and the evolution of energy systems. The utilization of demand side flexibility can help towards this direction and achieve the target of h...
Power systems with rising shares of variable renewable energy require dispatchable flexibility, but the economic sustainability of gas-fired generation is increasingly shaped by LNG exposure, fuel-price volatility, declining utilization, and incomple...
The massive integration of variable renewable energy sources (vRES) in Central Europe is fundamentally transforming electricity price formation and straining transmission grids. However, existing academic metrics, such as the RES Capture Price, offer...
In this study, simulation work has been carried out to investigate the impact of a demand-side management control strategy in a residential nZEB. A refurbished apartment within a multi-family dwelling representative of Mediterranean building habits w...
Electricity access is strongly linked to human growth. Despite this, a portion of the world’s population remains without access to energy. In Colombia, rural communities have energy challenges due to the National Interconnected System’s (...
In recent years, negative electricity prices have ceased to be a rare phenomenon and are becoming a new reality in markets with a high share of renewable energy sources. This introductory article examines the increasing frequency of negative prices&m...
This paper develops a bi-level optimization framework for community energy systems to improve grid stability and strengthen resilience against supply–demand mismatches, with potential applicability to weather-driven operational stress. By incor...
The increasing penetration of distributed renewable energy and the emergence of large-scale, flexible loads such as data centers pose significant challenges to the economic and secure operation of distribution systems. Traditional static pricing mech...
To tackle the variability of distributed renewable energy (DRE) and the timing differences in load demand, this paper perfects the integrated layout of “source-load-storage” energy control in virtual power plants (VPPs). Introducing a com...
Commercial greenhouses are becoming significant, controllable, and weather-dependent electricity loads in regions pursuing controlled environment agriculture (CEA). Their electrical demands—such as supplemental lighting, heating, ventilation/co...
The integration of renewable rnergy sources (RESs) into the power grid involves operational challenges due to the inherent RES energy-production variability. Imbalances between actual power generation and scheduled production can lead to grid instabi...
We consider the wholesale electricity market prices in England and Wales during its complete history, where price-cap regulation and divestment series were introduced at different points in time. We compare the impact of these regulatory reforms on t...
Co-firing wood pellets with coal is an attractive alternative energy generation method with economic, social, and environmental benefits for the US energy generation sector. One way to sustainably use wood pellets for co-firing is to create consumer-...
With the demand response and the massive access of distributed energy to the distribution network, it is possible to solve the transmission congestion problem by coordinating the controllable resources in a transmission network and distribution netwo...
An Emission Trading Scheme (ETS) is widely considered to reduce carbon emissions and achieve sustainability. Unsatisfactory results of European Union Emission trading scheme (EU ETS) make China’s government propose a flexible-cap ETS system to...
In the context of modern power systems, the reliance on a single-time-of-use electricity pricing model presents challenges in managing electric vehicle (EV) charging in a way that can effectively accommodate the variable supply and demand patterns, p...
Due to the uncertainty of world economic development, market demands are stochastic and the supply quantities of suppliers in the supply chain are always flexible, so a mixed wholesale-option-contract (abbreviated as a mixed contract) is one of the g...
With the large-scale integration of Electric Vehicles (EVs) into distribution systems, the spatiotemporal uncertainty of charging loads and the interplay between user charging behavior and network operational constraints present new challenges to the...
This study evaluates the economic viability of the South Pasopati Coal Project in Indonesia, addressing market volatility, carbon pricing policies, and the country’s energy transition towards Net Zero Emissions (NZE). Given Indonesia’s re...
With exposure to real-time market pricing structures, consumers would be incentivized to invest in electrical energy storage systems and smart predictive automation of their home energy systems. Smart home automation through optimizing HVAC (heating,...
of 22