Events Calendar

Epstein Institute / ISE 651 Seminar Series

Speaker: Shmuel S. Oren, Earl J. Isaac Chair Professor in the Science and Analysis of Decision Making, Industrial Engineering and Operations Research Department, University of California at Berkeley

Talk Title: Smart Markets for a Smart Electricity Grid

Series: Epstein Institute Seminar Series

Abstract: Socio economic forces, development in generation technologies and environmental considerations have led to restructuring of the electric power systems in part of the USA and in many systems worldwide, transforming them from vertically integrated regulated monopolies to competitive market based systems. From a supply chain perspective competitive electricity markets represent, perhaps, the most challenging supply chain. The commodity is non-storable; demand is uncertain and highly correlated with weather, all the demand must be satisfied instantaneously with a high level of reliability (one day in ten years criteria for involuntary load curtailment). In addition service is provided over a network that is prone to congestion, flows over transmission lines cannot be directly controlled as in a transportation system (flows follow Kirchhoff’s laws) and the market is encumbered by numerous externalities and market power. In spite of such obstacles there has been fascinating developments in the design and operations of competitive electricity markets over the last fifteen years through the use of state of the art optimization tools and economic principles. This talk will describe some of the key challenges in designing and operating competitive electricity markets. I will review the basic elements and alternative approaches adopted in different systems and discuss what we have learned so far in this area. I will also discuss new challenges and opportunities due to massive integration of renewable resources, proliferation of smart grid technologies and electrification of the transportation sector.


Biography: Shmuel S. Oren is the Earl J. Isaac Chair Professor in the Science and Analysis of Decision Making in the Industrial Engineering and Operations Research department at the University of California, Berkeley. He is the Berkeley site director of PSERC - a multi-university Power System Engineering Research Center sponsored by the National Science Foundation and industry members. He is Also member of the California ISO Market Surveillance Committee. His academic research focuses on planning and scheduling of power systems and on electricity market design and regulation. He has been a consultant to various private and government organizations in the US and abroad including the Public Utility Commission of Texas (PUCT), the California Public Utility Commission (CPUC), EPRI, the Bonneville Power Authority and the California ISO. He holds a Ph.D. in Engineering Economic Systems from Stanford University and is a Fellow of the IEEE and of the Institute of Operations Research and Management Science (INFORMS)

Host: Daniel J. Epstein Department of Industrial and Systems Engineering

More Information: Seminar-Oren.docx

Location: Ethel Percy Andrus Gerontology Center (GER) - 206

Audiences: Everyone Is Invited

Contact: Georgia Lum