The Experts below are selected from a list of 18840 Experts worldwide ranked by ideXlab platform
Audun Botterud - One of the best experts on this subject based on the ideXlab platform.
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Enhanced Representations of Lithium-Ion Batteries in Power Systems Models and Their Effect on the Valuation of Energy Arbitrage Applications
Journal of Power Sources, 2017Co-Authors: Apurba Sakti, Nestor A. Sepulveda, Canan Uckun, Claudio Vergara, Fernando J. De Sisternes, Kevin G. Gallagher, Dennis W Dees, Audun BotterudAbstract:Abstract We develop three novel enhanced mixed integer-linear representations of the power limit of the battery and its efficiency as a function of the charge and discharge power and the state of charge of the battery, which can be directly implemented in large-scale power systems models and solved with commercial optimization solvers. Using these battery representations, we conduct a techno-economic analysis of the performance of a 10 MWh lithium-ion battery system testing the effect of a 5-min vs. a 60-min Price Signal on profits using real time Prices from a selected node in the MISO electricity market. Results show that models of lithium-ion batteries where the power limits and efficiency are held constant overestimate profits by 10% compared to those obtained from an enhanced representation that more closely matches the real behavior of the battery. When the battery system is exposed to a 5-min Price Signal, the energy arbitrage profitability improves by 60% compared to that from hourly Price exposure. These results indicate that a more accurate representation of li-ion batteries as well as the market rules that govern the frequency of electricity Prices can play a major role on the estimation of the value of battery technologies for power grid applications.
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enhanced representations of lithium ion batteries in power systems models and their effect on the valuation of energy arbitrage applications
2016Co-Authors: Apurba Sakti, Canan Uckun, Claudio Vergara, Fernando J. De Sisternes, Kevin G. Gallagher, Audun Botterud, Dennis W Dees, Nestor SepulvedaAbstract:We develop three novel enhanced mixed integer-linear representations of the power limit of the battery and its efficiency as a function of the charge and discharge power and the state of charge of the battery, which can be directly implemented in large-scale power systems models and solved with commercial solvers. Using these representations, we conduct a techno-economic analysis of the performance of a 10MWh lithium-ion battery system testing the effect of a 5-min vs. a 60-min period Price Signal on profits using real time Prices from a selected node in the MISO electricity market. Results show that models of lithium-ion batteries where the power limits and efficiency are held constant overestimate profits by 10% compared to those obtained from an enhanced representation that closely matches the real behavior of the battery. When the battery system is exposed to a 5-min Price Signal, the profitability from energy arbitrage improves by 60% compared to that from hourly Price exposure. These results indicate that a more accurate representation of li-ion batteries as well as the market rules that govern the frequency of electricity Prices can play a major role on the estimation of the value of battery technologies for power grid applications.
Joehl Nguyen - One of the best experts on this subject based on the ideXlab platform.
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sending the wrong Price Signal why do some brand name drugs cost medicare beneficiaries less than generics
Health Affairs, 2019Co-Authors: Stacie B Dusetzina, Shelley A Jazowski, Ashley L Cole, Joehl NguyenAbstract:The current Medicare Part D benefit may require greater out-of-pocket spending for beneficiaries filling prescriptions for higher-Price generic drugs, compared to those filling brand-name counterpa...
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sending the wrong Price Signal why do some brand name drugs cost medicare beneficiaries less than generics
Health Affairs, 2019Co-Authors: Stacie B Dusetzina, Shelley A Jazowski, Ashley L Cole, Joehl NguyenAbstract:The current Medicare Part D benefit may require greater out-of-pocket spending for beneficiaries filling prescriptions for higher-Price generic drugs, compared to those filling brand-name counterparts. This can occur among patients who reach the catastrophic coverage phase under the Part D benefit, when differences between the Prices for generic and brand-name drugs are not large. This scenario may be common with specialty drugs (typically high-Price products used to treat rare or complex conditions), when the number of generic manufacturers or clinical alternatives are limited. In this study we demonstrated that patients would pay more out of pocket for generic medications than for brand-name drugs in these cases, driven by manufacturer discounts provided in the Medicare Part D coverage gap. Overpayments for specialty generic drugs relative to brand-name drugs ranged from $869 to $1,072 in 2019, despite lower point-of-sale Prices for these drugs. Policy makers should consider modifying the Part D benefit to increase incentives for generic drug use.
Stacie B Dusetzina - One of the best experts on this subject based on the ideXlab platform.
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sending the wrong Price Signal why do some brand name drugs cost medicare beneficiaries less than generics
Health Affairs, 2019Co-Authors: Stacie B Dusetzina, Shelley A Jazowski, Ashley L Cole, Joehl NguyenAbstract:The current Medicare Part D benefit may require greater out-of-pocket spending for beneficiaries filling prescriptions for higher-Price generic drugs, compared to those filling brand-name counterpa...
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sending the wrong Price Signal why do some brand name drugs cost medicare beneficiaries less than generics
Health Affairs, 2019Co-Authors: Stacie B Dusetzina, Shelley A Jazowski, Ashley L Cole, Joehl NguyenAbstract:The current Medicare Part D benefit may require greater out-of-pocket spending for beneficiaries filling prescriptions for higher-Price generic drugs, compared to those filling brand-name counterparts. This can occur among patients who reach the catastrophic coverage phase under the Part D benefit, when differences between the Prices for generic and brand-name drugs are not large. This scenario may be common with specialty drugs (typically high-Price products used to treat rare or complex conditions), when the number of generic manufacturers or clinical alternatives are limited. In this study we demonstrated that patients would pay more out of pocket for generic medications than for brand-name drugs in these cases, driven by manufacturer discounts provided in the Medicare Part D coverage gap. Overpayments for specialty generic drugs relative to brand-name drugs ranged from $869 to $1,072 in 2019, despite lower point-of-sale Prices for these drugs. Policy makers should consider modifying the Part D benefit to increase incentives for generic drug use.
Sebastian Lehnhoff - One of the best experts on this subject based on the ideXlab platform.
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On the problem of controlling shiftable prosumer devices with Price Signals
International Journal of Electrical Power and Energy Systems, 2015Co-Authors: Sebastian Ruthe, Christian Rehtanz, Sebastian LehnhoffAbstract:Price-based control approaches can be derived from the Lagrangian relaxation of the unit commitment problem and provide a scalable framework for solving practical sized optimization problems. The framework postulates an iterative gradient-based pricing mechanism, in which the Price Signal is used to negotiate the energy exchange between individual (small sized) market participants. Within this framework shiftable loads, renewables and storage devices induce discontinuous utility functions, which can cause divergence of the pricing mechanism resulting suboptimal solutions. The authors propose a new simple but efficient method to deal with this problem in large scale market setups by introducing the concept of randomized Price offsets.
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on the problem of controlling shiftable prosumer devices with Price Signals
Power Systems Computation Conference, 2014Co-Authors: Sebastian Ruthe, Christian Rehtanz, Sebastian LehnhoffAbstract:Price-based control approaches can be derived from the Lagrangian relaxation of the unit commitment problem and provide a scalable framework for solving practical sized optimization problems. The framework postulates an iterative gradient based-pricing mechanism, in which the Price Signal is used to negotiate the energy exchange between individual market participants. Within this framework shiftable prosumer devices induce non-convex, non-continuous utility functions, which can cause divergence of the gradient based pricing mechanism resulting in market failures. This paper proposes a new simple but efficient method to deal with this problem by exploiting the concept of randomized Price offsets.
Apurba Sakti - One of the best experts on this subject based on the ideXlab platform.
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Enhanced Representations of Lithium-Ion Batteries in Power Systems Models and Their Effect on the Valuation of Energy Arbitrage Applications
Journal of Power Sources, 2017Co-Authors: Apurba Sakti, Nestor A. Sepulveda, Canan Uckun, Claudio Vergara, Fernando J. De Sisternes, Kevin G. Gallagher, Dennis W Dees, Audun BotterudAbstract:Abstract We develop three novel enhanced mixed integer-linear representations of the power limit of the battery and its efficiency as a function of the charge and discharge power and the state of charge of the battery, which can be directly implemented in large-scale power systems models and solved with commercial optimization solvers. Using these battery representations, we conduct a techno-economic analysis of the performance of a 10 MWh lithium-ion battery system testing the effect of a 5-min vs. a 60-min Price Signal on profits using real time Prices from a selected node in the MISO electricity market. Results show that models of lithium-ion batteries where the power limits and efficiency are held constant overestimate profits by 10% compared to those obtained from an enhanced representation that more closely matches the real behavior of the battery. When the battery system is exposed to a 5-min Price Signal, the energy arbitrage profitability improves by 60% compared to that from hourly Price exposure. These results indicate that a more accurate representation of li-ion batteries as well as the market rules that govern the frequency of electricity Prices can play a major role on the estimation of the value of battery technologies for power grid applications.
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enhanced representations of lithium ion batteries in power systems models and their effect on the valuation of energy arbitrage applications
2016Co-Authors: Apurba Sakti, Canan Uckun, Claudio Vergara, Fernando J. De Sisternes, Kevin G. Gallagher, Audun Botterud, Dennis W Dees, Nestor SepulvedaAbstract:We develop three novel enhanced mixed integer-linear representations of the power limit of the battery and its efficiency as a function of the charge and discharge power and the state of charge of the battery, which can be directly implemented in large-scale power systems models and solved with commercial solvers. Using these representations, we conduct a techno-economic analysis of the performance of a 10MWh lithium-ion battery system testing the effect of a 5-min vs. a 60-min period Price Signal on profits using real time Prices from a selected node in the MISO electricity market. Results show that models of lithium-ion batteries where the power limits and efficiency are held constant overestimate profits by 10% compared to those obtained from an enhanced representation that closely matches the real behavior of the battery. When the battery system is exposed to a 5-min Price Signal, the profitability from energy arbitrage improves by 60% compared to that from hourly Price exposure. These results indicate that a more accurate representation of li-ion batteries as well as the market rules that govern the frequency of electricity Prices can play a major role on the estimation of the value of battery technologies for power grid applications.