document

Mitigating Revenue Losses of a Wind Farm in an Offshore Bidding Zone: A Scenario-Based Modelling Approach

Engelhard, Vincent (author)

This study addresses the revenue losses from network congestion of an Offshore Wind Farm (OWF) resulting from the implementation of an Offshore Bidding Zone (OBZ) and explores potential measures to mitigate these effects. The quantitative analysis involves a model that simulates a hypothetical OWF located in the North Sea between Norway and the...

master thesis 2024

document

Capturing Electricity Market Dynamics in Strategic Market Participation Using Neural Network Constrained Optimization

Dolanyi, Mihaly (author), Bruninx, K. (author), Toubeau, Jean Francois (author), Delarue, Erik (author)

In competitive electricity markets, the optimal bid or offer problem of a strategic agent is commonly formulated as a bi-level program and solved as a mathematical program with equilibrium constraints (MPEC). If the lower-level (LL) part of the problem can be well approximated as a convex problem, this approach leads to a global optimum. However...

journal article 2024

document

CfD designs for offshore wind farms in the offshore bidding zone approach: What are the advantages and disadvantages of different CfD designs for offshore wind farms in the North Sea?

van Delzen, Timo (author)

Offshore bidding zones will eventually result in lower revenues for offshore wind farm owners due to a lower electricity volume and price risk, especially when flow-based market coupling and advanced hybrid coupling are implemented in the electricity system. This results in a demand to improve the investment climate for offshore wind farm owners...

master thesis 2023

document

Tenders in the Dutch construction industry: The impact of client decisions on the tender competition

Groen, Bas (author)

As a result of decreasing competition within the procurement of large construction projects in the Dutch construction sector, the need arises to understand the mechanisms behind the competition. Especially how decisions by clients on the procurement of construction projects impact the number of competitors. When this is understood, clients can...

master thesis 2023

document

Unlocking Innovation: Developing a Decision Making Framework for the Bidding Process of Innovative Projects

Mignoli, Giulio (author)

This master thesis is focused on developing a comprehensive decision-making framework for the bidding process of innovative projects in the EPC industry. The research explores the current literature on the bidding process, risks, uncertainties, managing risks during the bidding process, and decision-making. It identifies EPC contractors'...

master thesis 2023

document

Tsetse fly inspired steerable bone drill: a proof of concept

de Kater, E.P. (author), Müller, R. (author), Sakes, A. (author), Breedveld, P. (author)

The fixation strength of pedicle screws could be increased by fixating along the much stronger cortical bone layer, which is not possible with the current rigid and straight bone drills. Inspired by the tsetse fly, a single-plane steerable bone drill was developed. The drill has a flexible transmission using two stacked leaf springs such that...

journal article 2023

document

A bidding mechanism for maintenance of generation units considering inter-ISO power exchange

Fu, J. (author), Nunez, Alfredo (author), De Schutter, B.H.K. (author)

To ensure the reliability of power systems, the independent system operator (ISO) manages the planning process of the maintenance of generation units for generation companies (GENCOs). This paper focuses on a widely studied two-layer long-term predictive maintenance decision making framework in a deregulated environment. In the first layer...

journal article 2023

document

Model-Free Bounds for Multi-Asset Options Using Option-Implied Information and Their Exact Computation

Neufeld, Ariel (author), Papapantoleon, A. (author), Xiang, Qikun (author)

We consider derivatives written on multiple underlyings in a one-period financial market, and we are interested in the computation of model-free upper and lower bounds for their arbitrage-free prices. We work in a completely realistic setting, in that we only assume the knowledge of traded prices for other single- and multi-asset derivatives...

journal article 2023

document

Off-shore Bidding Zones under Flow-Based Market Coupling

Kenis, Michiel (author), Delarue, Erik (author), Bruninx, K. (author), Dominguez, Fernando (author)

The market integration of hybrid off-shore projects, consisting of wind farms and transmission assets connecting different market zones, requires re-examining bidding zone definitions. Policy makers consider separate off-shore bidding zones to optimally integrate off-shore wind farms in power systems. In this paper, we apply Advanced Hybrid...

conference paper 2023

document

Bidding Support by the Pocket Negotiator Improves Negotiation Outcomes

Aydoğan, Reyhan (author), Jonker, C.M. (author)

This paper presents the negotiation support mechanisms provided by the Pocket Negotiator (PN) and an elaborate empirical evaluation of the economic decision support (EDS) mechanisms during the bidding phase of negotiations as provided by the PN. Some of these support mechanisms are offered actively, some passively. With passive support we...

conference paper 2023

document

An operational bidding framework for aggregated electric vehicles on the electricity spot market

Visser, L. R. (author), Kootte, M.E. (author), Ferreira, A. C. (author), Sicurani, O. (author), Pauwels, E. J. (author), Vuik, Cornelis (author), Van Sark, W. G.J.H.M. (author), AlSkaif, T. A. (author)

Fluctuating electricity prices offer potential economic savings for the consumption of electricity by flexible assets such as Electric Vehicles (EVs). This study proposes an operational bidding framework that minimizes the charging costs of an EV fleet by submitting an optimized bid to the day-ahead electricity market. The framework consists...

journal article 2022

document

Actor-critic reinforcement learning for bidding in bilateral negotiation

Arslan, Furkan (author), Aydoğan, Reyhan (author)

Designing an effective and intelligent bidding strategy is one of the most compelling research challenges in automated negotiation, where software agents negotiate with each other to find a mutual agreement when there is a conflict of interests. Instead of designing a hand-crafted decision-making module, this work proposes a novel bidding...

journal article 2022

document

Risk-Based Constraints for the Optimal Operation of an Energy Community

Dolanyi, Mihaly (author), Bruninx, K. (author), Toubeau, Jean Francois (author), Delarue, Erik (author)

This paper formulates an energy community's centralized optimal bidding and scheduling problem as a time-series scenario-driven stochastic optimization model, building on real-life measurement data. In the presented model, a surrogate battery storage system with uncertain state-of-charge (SoC) bounds approximates the portfolio's aggregated...

journal article 2022

document

Balancing and redispatch: the next stepping stones in European electricity market integration: Improving the market design and the efficiency of the procurement of balancing and redispatch services

Poplavskaya, K. (author)

Balancing and redispatch are essential services for the security and stability of the electricity network. Balancing refers to continuously maintaining a balance between supply and demand through activating flexible resources. Redispatch refers to changing the dispatch of generators to remedy network congestion. The need for flexibility...

doctoral thesis 2021

document

Making the most of short-term flexibility in the balancing market: Opportunities and challenges of voluntary bids in the new balancing market design

Poplavskaya, K. (author), Lago, Jesus (author), Strömer, Stefan (author), De Vries, Laurens (author)

Electricity balancing is one of the main demanders of short-term flexibility. To improve its integration, the recent regulation of the European Union introduces a common standalone balancing energy market. It allows actors that have not participated or not been awarded in the preceding balancing capacity market to participate as voluntary...

journal article 2021

document

Effect of Awareness of Other Side’s Gain on Negotiation Outcome, Emotion, Argument, and Bidding Behavior

Güngör, Onat (author), Çakan, Umut (author), Aydoğan, Reyhan (author), Özturk, Pinar (author)

Designing agents aiming to negotiate with human counterparts requires additional factors. In this work, we analyze the main elements of human negotiations in a structured human experiment. Particularly, we focus on studying the effect of negotiators being aware of the other side’s gain on the bidding behavior and the negotiation outcome. We...

conference paper 2021

document

How to Recognize and Explain Bidding Strategies in Negotiation Support Systems

Koeman, Vincent J. (author), Hindriks, K.V. (author), Gratch, Jonathan (author), Jonker, C.M. (author)

Effective use of negotiation support systems depends on the systems capability of explaining itself to the user. This paper introduces the notion of an explanation matrix and an aberration detection mechanism for bidding strategies. The aberration detection is a mechanism that detects if one of the negotiating parties deviates from their...

conference paper 2021

document

Towards Optimal Demand-Side Bidding in Parallel Auctions for Time-Shiftable Electrical Loads

Saur, R. (author), la Poutré, J.A. (author), Yorke-Smith, N. (author)

Increasing electricity production from renewable energy sources has, by its fluctuating nature, created the need for more flexible demand side management. How to integrate flexible demand in the electricity system is an open research question. We consider the case of procuring the energy needs of a time-shiftable load through a set of...

conference paper 2020

document

Taking inventory changes into account while negotiating in supply chain management

Berk Yavuz, Celal Ozan (author), Süslü, Çağil (author), Aydoğan, Reyhan (author)

In a supply chain environment, supply chain entities need to make joint decisions on the transaction of goods under the issues quantity, delivery time and unit price in order to procure/sell goods at right quantities and time while minimizing the transaction costs. This paper presents our negotiating agent designed for Supply Chain Management...

conference paper 2020

document

Effect of market design on strategic bidding behavior: Model-based analysis of European electricity balancing markets

Poplavskaya, K. (author), Lago, Jesus (author), De Vries, Laurens (author)

Market-based procurement of balancing services in Europe is prone to strategic bidding due to the relatively small market size and a limited number of providers. In the European Union, balancing markets are undergoing substantial regulatory changes driven the efforts to harmonize the market design and better align it with the goals of the...

journal article 2020