Stochastic Electricity Market Design talk by Prof. Yuri Dvorkin (NYU, USA)

Abstract: In this presentation, we will consider a chance constrained approach to enable real-life implementation of stochastic electricity market designs. In particular, the presentation will focus on wholesale (transmission) and retail (distribution) electricity market-clearing for day-ahead and hour-ahead time scales. Building on these formulations, we will investigate the ability of these chance-constrained stochastic market designs to maintain cost revery and revenue adequacy properties and accommodate fine-grained risk management via variance and risk mitigation. The presentation will be accompanied by illustrative examples using the real-life 8-zone ISO New England testbed and IEEE Reliability Test System.

Bio: Yury Dvorkin is an Assistant Professor and Goddard Junior Faculty Fellow in the Department of Electrical and Computer Engineering at New York University’s Tandon School of Engineering with a joint affiliation with the New York University’s Center for Urban Science and Progress. At New York University (NYU), Dr. Dvorkin leads the Smart Energy Research Group researching innovative modeling and algorithmic solutions to assist society in accommodating emerging smart grid technologies (e.g., intermittent generation, demand response, storage, smart appliances, cyberinfrastructure) using multi-disciplinary methods in engineering, operations research, economics,  and policy analysis. Dr. Dvorkin’s current research work is supported by the U.S. National Science Foundation, U.S. Department of Energy and Alfred P. Sloan Foundation.  Since 2019, Dr. Dvorkin has been an Associate Editor of the IEEE Transactions on Smart Grid. In 2019, Dr. Dvorkin also received the NSF CAREER Award, early-career grant for energy researchers by the Alfred P. Sloan Foundation, and Goddard Junior Faculty Fellowship from New York University.

Prior to joining NYU in 2017, Dr. Dvorkin was a Ph.D. student at the University of Washington under the supervision of Prof. Daniel S. Kirschen  (2011-2016), where Dr. Dvorkin was awarded the inaugural 2016 Scientific Achievement Award by Clean Energy Institute (University of Washington)  for his dissertation work, entitled “Operations and Planning in Sustainable Power Systems“. In 2014,  Dvorkin was a graduate student researcher at the Center for Nonlinear Studies, Los Alamos National Laboratory under the supervision of Dr. Michael Chertkov and Dr. Scott Backhaus. In 2011, Dvorkin graduated from the Moscow Power Engineering Institute (Московский Энергетический Институт) with the highest academic honors (summa cum laude), where he earned numerous awards, scholarships and prizes, including the Mayor of Moscow Fellowship (стипендия Мэра Москвы) in 2009 and in 2010 and the President of Russia Fellowship (стипендия Президента России) in 2009.