{"id":"https://openalex.org/W2065245498","doi":"https://doi.org/10.1109/tsg.2014.2298035","title":"Optimization of Forward Electricity Markets Considering Wind Generation and Demand Response","display_name":"Optimization of Forward Electricity Markets Considering Wind Generation and Demand Response","publication_year":2014,"publication_date":"2014-01-31","ids":{"openalex":"https://openalex.org/W2065245498","doi":"https://doi.org/10.1109/tsg.2014.2298035","mag":"2065245498"},"language":"en","primary_location":{"id":"doi:10.1109/tsg.2014.2298035","is_oa":false,"landing_page_url":"https://doi.org/10.1109/tsg.2014.2298035","pdf_url":null,"source":{"id":"https://openalex.org/S59604973","display_name":"IEEE Transactions on Smart Grid","issn_l":"1949-3053","issn":["1949-3053","1949-3061"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319808","host_organization_name":"Institute of Electrical and Electronics Engineers","host_organization_lineage":["https://openalex.org/P4310319808"],"host_organization_lineage_names":["Institute of Electrical and Electronics Engineers"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"IEEE Transactions on Smart Grid","raw_type":"journal-article"},"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5079620701","display_name":"Jiankang Wang","orcid":"https://orcid.org/0000-0002-7731-4548"},"institutions":[{"id":"https://openalex.org/I63966007","display_name":"Massachusetts Institute of Technology","ror":"https://ror.org/042nb2s44","country_code":"US","type":"education","lineage":["https://openalex.org/I63966007"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Jiankang Wang","raw_affiliation_strings":["Massachusetts Institute of Technology, Cambridge, MA, USA","Massachusetts Institute of Technology; ,; Cambridge MA USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Massachusetts Institute of Technology, Cambridge, MA, USA","institution_ids":["https://openalex.org/I63966007"]},{"raw_affiliation_string":"Massachusetts Institute of Technology; ,; Cambridge MA USA","institution_ids":["https://openalex.org/I63966007"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5111543468","display_name":"Scott Kennedy","orcid":null},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Scott W. Kennedy","raw_affiliation_strings":["Masdar Institute of Science and Technology, Abu Dhabi, UAE","Masdar Institute of Science and Technology, Abu Dhabi, United Arab Emirates#TAB#"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Masdar Institute of Science and Technology, Abu Dhabi, UAE","institution_ids":[]},{"raw_affiliation_string":"Masdar Institute of Science and Technology, Abu Dhabi, United Arab Emirates#TAB#","institution_ids":[]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5020224496","display_name":"James L. Kirtley","orcid":null},"institutions":[{"id":"https://openalex.org/I63966007","display_name":"Massachusetts Institute of Technology","ror":"https://ror.org/042nb2s44","country_code":"US","type":"education","lineage":["https://openalex.org/I63966007"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"James L. Kirtley","raw_affiliation_strings":["Massachusetts Institute of Technology, Cambridge, MA, USA","Massachusetts Institute of Technology; ,; Cambridge MA USA"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Massachusetts Institute of Technology, Cambridge, MA, USA","institution_ids":["https://openalex.org/I63966007"]},{"raw_affiliation_string":"Massachusetts Institute of Technology; ,; Cambridge MA USA","institution_ids":["https://openalex.org/I63966007"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":2.0719,"has_fulltext":false,"cited_by_count":22,"citation_normalized_percentile":{"value":0.88542341,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":90,"max":97},"biblio":{"volume":"5","issue":"3","first_page":"1254","last_page":"1261"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10424","display_name":"Electric Power System Optimization","score":0.9994000196456909,"subfield":{"id":"https://openalex.org/subfields/2208","display_name":"Electrical and Electronic Engineering"},"field":{"id":"https://openalex.org/fields/22","display_name":"Engineering"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},"topics":[{"id":"https://openalex.org/T10424","display_name":"Electric Power System Optimization","score":0.9994000196456909,"subfield":{"id":"https://openalex.org/subfields/2208","display_name":"Electrical and Electronic Engineering"},"field":{"id":"https://openalex.org/fields/22","display_name":"Engineering"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T10603","display_name":"Smart Grid Energy Management","score":0.9991999864578247,"subfield":{"id":"https://openalex.org/subfields/2208","display_name":"Electrical and Electronic Engineering"},"field":{"id":"https://openalex.org/fields/22","display_name":"Engineering"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T11185","display_name":"Integrated Energy Systems Optimization","score":0.996399998664856,"subfield":{"id":"https://openalex.org/subfields/2208","display_name":"Electrical and Electronic Engineering"},"field":{"id":"https://openalex.org/fields/22","display_name":"Engineering"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/demand-response","display_name":"Demand response","score":0.7733999490737915},{"id":"https://openalex.org/keywords/wind-power","display_name":"Wind power","score":0.6486154794692993},{"id":"https://openalex.org/keywords/electricity-market","display_name":"Electricity market","score":0.6162274479866028},{"id":"https://openalex.org/keywords/electricity","display_name":"Electricity","score":0.566311776638031},{"id":"https://openalex.org/keywords/price-elasticity-of-demand","display_name":"Price elasticity of demand","score":0.5418842434883118},{"id":"https://openalex.org/keywords/electric-power-system","display_name":"Electric power system","score":0.5069646835327148},{"id":"https://openalex.org/keywords/flexibility","display_name":"Flexibility (engineering)","score":0.5033201575279236},{"id":"https://openalex.org/keywords/load-management","display_name":"Load management","score":0.48991483449935913},{"id":"https://openalex.org/keywords/energy-market","display_name":"Energy market","score":0.4462684690952301},{"id":"https://openalex.org/keywords/forward-contract","display_name":"Forward contract","score":0.4216597378253937},{"id":"https://openalex.org/keywords/electricity-generation","display_name":"Electricity generation","score":0.41666823625564575},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.408191978931427},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.3896470069885254},{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.36081430315971375},{"id":"https://openalex.org/keywords/power","display_name":"Power (physics)","score":0.2039472460746765},{"id":"https://openalex.org/keywords/engineering","display_name":"Engineering","score":0.20368894934654236},{"id":"https://openalex.org/keywords/futures-contract","display_name":"Futures contract","score":0.1600131094455719},{"id":"https://openalex.org/keywords/electrical-engineering","display_name":"Electrical engineering","score":0.12132769823074341}],"concepts":[{"id":"https://openalex.org/C2779438525","wikidata":"https://www.wikidata.org/wiki/Q5255048","display_name":"Demand response","level":3,"score":0.7733999490737915},{"id":"https://openalex.org/C78600449","wikidata":"https://www.wikidata.org/wiki/Q43302","display_name":"Wind power","level":2,"score":0.6486154794692993},{"id":"https://openalex.org/C146733006","wikidata":"https://www.wikidata.org/wiki/Q676081","display_name":"Electricity market","level":3,"score":0.6162274479866028},{"id":"https://openalex.org/C206658404","wikidata":"https://www.wikidata.org/wiki/Q12725","display_name":"Electricity","level":2,"score":0.566311776638031},{"id":"https://openalex.org/C51355593","wikidata":"https://www.wikidata.org/wiki/Q3194154","display_name":"Price elasticity of demand","level":2,"score":0.5418842434883118},{"id":"https://openalex.org/C89227174","wikidata":"https://www.wikidata.org/wiki/Q2388981","display_name":"Electric power system","level":3,"score":0.5069646835327148},{"id":"https://openalex.org/C2780598303","wikidata":"https://www.wikidata.org/wiki/Q65921492","display_name":"Flexibility (engineering)","level":2,"score":0.5033201575279236},{"id":"https://openalex.org/C2779370713","wikidata":"https://www.wikidata.org/wiki/Q357554","display_name":"Load management","level":2,"score":0.48991483449935913},{"id":"https://openalex.org/C2776849302","wikidata":"https://www.wikidata.org/wiki/Q1239166","display_name":"Energy market","level":3,"score":0.4462684690952301},{"id":"https://openalex.org/C38904191","wikidata":"https://www.wikidata.org/wiki/Q744762","display_name":"Forward contract","level":3,"score":0.4216597378253937},{"id":"https://openalex.org/C423512","wikidata":"https://www.wikidata.org/wiki/Q383973","display_name":"Electricity generation","level":3,"score":0.41666823625564575},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.408191978931427},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.3896470069885254},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.36081430315971375},{"id":"https://openalex.org/C163258240","wikidata":"https://www.wikidata.org/wiki/Q25342","display_name":"Power (physics)","level":2,"score":0.2039472460746765},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.20368894934654236},{"id":"https://openalex.org/C106306483","wikidata":"https://www.wikidata.org/wiki/Q183984","display_name":"Futures contract","level":2,"score":0.1600131094455719},{"id":"https://openalex.org/C119599485","wikidata":"https://www.wikidata.org/wiki/Q43035","display_name":"Electrical engineering","level":1,"score":0.12132769823074341},{"id":"https://openalex.org/C187736073","wikidata":"https://www.wikidata.org/wiki/Q2920921","display_name":"Management","level":1,"score":0.0},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.0},{"id":"https://openalex.org/C62520636","wikidata":"https://www.wikidata.org/wiki/Q944","display_name":"Quantum mechanics","level":1,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1109/tsg.2014.2298035","is_oa":false,"landing_page_url":"https://doi.org/10.1109/tsg.2014.2298035","pdf_url":null,"source":{"id":"https://openalex.org/S59604973","display_name":"IEEE Transactions on Smart Grid","issn_l":"1949-3053","issn":["1949-3053","1949-3061"],"is_oa":false,"is_in_doaj":false,"is_core":true,"host_organization":"https://openalex.org/P4310319808","host_organization_name":"Institute of Electrical and Electronics Engineers","host_organization_lineage":["https://openalex.org/P4310319808"],"host_organization_lineage_names":["Institute of Electrical and Electronics Engineers"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"IEEE Transactions on Smart Grid","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[{"display_name":"Affordable and clean energy","id":"https://metadata.un.org/sdg/7","score":0.8999999761581421}],"awards":[],"funders":[{"id":"https://openalex.org/F4320309369","display_name":"Massachusetts Institute of Technology","ror":"https://ror.org/042nb2s44"}],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":29,"referenced_works":["https://openalex.org/W78040601","https://openalex.org/W78931549","https://openalex.org/W639305211","https://openalex.org/W649951324","https://openalex.org/W1604040248","https://openalex.org/W1604410941","https://openalex.org/W1610345528","https://openalex.org/W1980336757","https://openalex.org/W2059413288","https://openalex.org/W2077662647","https://openalex.org/W2092036938","https://openalex.org/W2105281013","https://openalex.org/W2135632417","https://openalex.org/W2143022498","https://openalex.org/W2146302675","https://openalex.org/W2151117739","https://openalex.org/W2158981097","https://openalex.org/W2162067990","https://openalex.org/W2162234817","https://openalex.org/W2167374930","https://openalex.org/W2167811542","https://openalex.org/W2187207171","https://openalex.org/W2291771821","https://openalex.org/W2945651589","https://openalex.org/W6603120926","https://openalex.org/W6636219503","https://openalex.org/W6687250854","https://openalex.org/W6762824902","https://openalex.org/W6990336966"],"related_works":["https://openalex.org/W2035833777","https://openalex.org/W2392147676","https://openalex.org/W2522559011","https://openalex.org/W2781337480","https://openalex.org/W1589973774","https://openalex.org/W2032085210","https://openalex.org/W2556396996","https://openalex.org/W2995441536","https://openalex.org/W1498330867","https://openalex.org/W2537767143"],"abstract_inverted_index":{"This":[0],"paper":[1],"presents":[2],"a":[3,50,66],"new":[4],"two-step":[5],"design":[6,72],"approach":[7],"of":[8,73,103],"forward":[9,55,74,105],"electricity":[10],"markets,":[11],"which":[12,99],"is":[13,34,63,108],"highly":[14],"penetrated":[15],"with":[16,87],"intermittent":[17],"energy":[18,58,106],"sources,":[19],"such":[20],"as":[21,65],"wind":[22],"power,":[23],"and":[24,42,56],"Demand":[25],"Response":[26],"(DR)":[27],"programs.":[28],"First,":[29],"an":[30],"optimal":[31],"market":[32,75,107],"timeframe":[33,61],"determined":[35],"that":[36],"balances":[37],"between":[38],"generation":[39],"forecast":[40],"accuracy":[41],"customers'":[43],"responding":[44],"flexibility,":[45],"in":[46,54,69,93],"order":[47],"to":[48],"achieve":[49],"minimum":[51],"system":[52,89,101],"cost":[53,102],"reserve":[57],"markets.":[59],"The":[60],"obtained":[62],"used":[64],"known":[67],"parameter":[68],"the":[70,94,100,104],"subsequent":[71],"price.":[76],"End":[77],"users'":[78],"scheduling":[79],"strategies":[80],"modeled":[81],"by":[82],"price":[83,95],"elasticity":[84],"matrices":[85],"along":[86],"current":[88],"conditions":[90],"are":[91],"considered":[92],"calculation":[96],"process,":[97],"during":[98],"minimized.":[109]},"counts_by_year":[{"year":2024,"cited_by_count":1},{"year":2022,"cited_by_count":3},{"year":2020,"cited_by_count":3},{"year":2019,"cited_by_count":2},{"year":2018,"cited_by_count":3},{"year":2017,"cited_by_count":2},{"year":2016,"cited_by_count":2},{"year":2015,"cited_by_count":3},{"year":2014,"cited_by_count":3}],"updated_date":"2025-11-06T03:46:38.306776","created_date":"2025-10-10T00:00:00"}