Events Calendar

ISE 651 Epstein Institute Seminar

Speaker: Tapas Das, Ph.D., University of South Florida

Talk Title: Upgrading Electric Power Market Infrastructure via Dynamic Pricing and Demand Response

Abstract: Both practitioners and researchers agree that both pricing and demand must play much more proactive roles in better balancing demand of electricity across the hours of a day. A balanced system will reduce the menace of demand and price spikes, routinely experienced by the power networks, and thus reduce the need for expensive reserve generation capacity as well. However, proactive management of pricing and demand would require a more upgraded power market infrastructure than what is currently in place in the U.S. Fortunately, increasing availability of advanced metering and power network infrastructure supported by the Internet of energy IoE will soon pave the way for the desired upgrade. This will facilitate dynamic pricing of electricity by system operators and intelligent demand response by load schedulers (controllers) in smart and connected consumer communities. A dynamic pricing strategy will offer binding prices for each time interval (perhaps, hourly) to the consumer nodes before loads are scheduled. This strategy will replace the current practice of time of use (TOU) pricing. In response to dynamic pricing, the smart communities will optimize their load schedule for all remaining time intervals of the day, as well as manage the use of renewable power generated by the communities.
However, implementing effective dynamic pricing and demand response strategies remains a significant challenge, as models necessary to design such strategies have not been developed and made available for use. This talk outlines the challenge and our approach to address it.


Biography: -“ Tapas K. Das is a professor and chair of the department of Industrial and Management Systems Engineering at the University of South Florida. He is a past chair of the Council of Industrial Engineering Academic Departments Heads (CIEADH), Fellow of IISE, and members of INFORMS and IEEE. His research interest includes policy studies in electric power markets (impact of CO2 emissions control policies on the market, incentive strategies for promoting net zero building, and dynamic pricing and demand response in IoE supported power market) as well as in disease diagnosis and treatment strategies in healthcare delivery.

Host: Dr. Jong-Shi Pang

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

Audiences: Everyone Is Invited

Contact: Angela Reneau