Calvin Lab Auditorium
This is the fourth and final part of the boot camp on Smart Grid. We will begin by describing the history of deregulation of electricity markets. We then describe the commonly used two settlement market structure: day ahead or bulk markets, and real-time markets for balancing. We discuss network effects and locational prices for electricity. We then summarize markets for transmission rights and storage.
After this summary, we critique the existing market structures and discuss new research problems that arise in the context of the smart grid. These include pricing of demand response, real-time tariffs, differentiated services. We close with a describing a vision for Grid2050 where the electricity delivery may evolve into interconnected micro-grids.