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The project proposes the price-based control approach as a coherent methodological framework to ensure the feasibility, the reliability and the efficiency of the future European power system, anticipate and support market based operation and decentralized decision making. It is enabled by state-of-the-art ICT technologies and by utilizing (beyond-) state-of-the-art decentralized and distributed control systems theory and modern optimization techniques. In our approach, ICT interfaces, control laws and behavioural protocols will be holistically analyzed and systematically designed as distributed solutions to time-varying global optimization problems.
In the E-PRICE project we propose a systematic scientific approach to formulate ICT and control requirements and solutions for price-based control of future power systems. In the heart of our approach are modelling, analysis and synthesis of the interplays between:
- the interconnected physical power system (C and D in figure), with time varying power requirements as prominent signals; and the economical layer (A and B in figure) with time varying price signals as the prominent information carriers.
- Local objectives of producers/consumers (prosumers) (B and C in figure) and global balance, transmission network limits and reliability constraints (A and D in figure).
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