Yury Dvorkin

Incentivizing Investment and Reliability: A Study on Electricity Capacity Markets

  • Cheng Guo
  • Christian Kroer
  • Yury Dvorkin
  • Daniel Bienstock
    • Categories Applications - OR and Management Sciences, Energy Tags , ,

    The capacity market, a marketplace to exchange available generation capacity for electricity production, provides a major revenue stream for generators and is adopted in several U.S. regions. A subject of ongoing debate, the capacity market is viewed by its proponents as a crucial mechanism to ensure system reliability, while critics highlight its drawbacks such as … Read more

    Risk-Aware Security-Constrained Unit Commitment: Taming the Curse of Real-Time Volatility and Consumer Exposure

  • Daniel Bienstock
  • Yury Dvorkin
  • Cheng Guo
  • Robert Mieth
  • Jiayi Wang
    • Categories Applications - OR and Management Sciences Tags , ,

    We propose an enhancement to wholesale electricity markets whereby the exposure of consumers to increasingly large and volatile consumer payments arising as a byproduct of volatile real-time net loads — i.e., loads minus renewable outputs — and prices, both compared to day-ahead cleared values. We incorporate a robust estimate of such excess payments into the … Read more