Studies have shown that the surrogate subgradient method, to optimize non-smooth dual
functions within the Lagrangian relaxation framework, can lead to significant computational …

<? Pub Dtl=""?> In current electricity markets of the USA, locational marginal prices (LMPs)
are obtained from the economic dispatch process and cannot capture costs associated with …

Marginal pricing schemes have become the industry's de-facto standard for electrical energy
trades. For market clearing, offer cost minimization mechanisms have been used since …

There are different choices for auction and settlement mechanisms in electricity markets;
however, selecting the appropriate mechanisms is too hard. Traditionally, the offer cost …

Studies have shown that for a given set of bids, Payment Cost Minimization leads to lower
customer payments as compared to Bid Cost Minimization. In order to provide a thorough …

Most ISOs in the US minimize the total bid cost and then settle the market based on
locational marginal prices. Minimizing the total bid cost, however, may not lead to …

Current US electricity markets select supply bids by using a bid cost minimization (BCM)
auction mechanism but then settle the payments based on locational marginal prices …

In deregulated electricity markets, currently, most independent system operators adopt the
offer cost minimisation (OCM) auction, and pay‐as‐market clearing price (MCP) mechanism …

Demand response (DR) is proven to be very efficacious for load mitigation especially in
peak time period. On the other hand, DR facilitates both consumers, system operator as well …

Payment cost minimization (PCM) is an appropriate method for bid selection. Solving
auctions by PCM is complex and time consuming, particularly under game theoretic analysis …