Chapter 1 Introduction
1.1 Monograph Context
1.2 Monograph Motivation
1.2.1 Role of Flexible Demand and Energy Storage in the Emerging Power System Setting
1.2.2 Market-Based Realisation of Flexible Demand and Energy Storage Flexibility
1.3 Monograph Scope and Original Contributions
1.3.1 Monograph Scope
1.3.2 Monograph Original Contributions
1.4 Monograph Outline
Chapter 2 Current Trends on Market Integration of Flexible Demand and Energy Storage
2.1 Introduction
2.2 Modelling Approaches for Flexible Demand and Energy Storage
2.3 Market Arrangements for Flexible Demand and Energy Storage
2.3.1 Centralized Market Clearing Mechanism
2.3.2 Decentralized Dynamic Pricing-Based Mechanism
2.4 Participation of Flexible Demand and Energy Storage in Different Market Segments
2.5 Centralized Market Clearing Mechanism with Flexible Demand and Energy Storage Participation
2.5.1 Assumptions on Examined Electricity Market Model
2.5.2 Model of Centralized Market Clearing Mechanism
Chapter 3 Factoring Flexible Demand Non-Convexities in Electricity Markets
3.1 Introduction
3.2 Literature Review
3.3 Centralized Market Clearing Under Flexible Demand Participation
3.3.1 Modelling Generation Participants
3.3.2 Modelling Flexible Demand Participants
3.3.3 Centralized Market Clearing Solutions
3.4 Surplus Sub-Optimality Effects and Their Relation to Participants Non-Convexities
3.4.1 Surplus Sub-Optimality
3.4.2 Generation Non-Convexities and Impacts on Surplus Optimality
3.4.3 Flexible Demand Non-Convexities and Impacts on Surplus Optimality
3.5 Generalized Uplifts Under Flexible Demand Participation
3.5.1 Lump-Sum Uplifts
3.5.2 Generalized Uplifts
3.5.3 Formulation of Minimum Discrimination Problem
3.5.4 Solution Techniques of the Minimum Discrimination Problem
3.6 Convex Hull Pricing Under Flexible Demand Participation
3.6.1 Concept of Convex Hull Pricing
3.6.2 Lagrangian Formulation of Convex Hull Pricing Problem
3.6.3 Solution Techniques of the Lagrangian Dual Problem
3.7 Case Studies
3.7.1 Test Data and Implementation
3.7.2 Impacts of Flexible Demand Non-Convexities
3.7.3 Generalized Uplift Approach
3.7.4 Convex Hull Pricing Approach
3.8 Conclusions
Chapter 4 Investigating the Impact of Flexible Demand and Energy Storage on the Exercise of Market Power by Strategic Producers in Imperfect Electricity Markets
4.1 Introduction
4.2 Literature Review
4.2.1 Modelling Imperfect Markets with Strategic Electricity Producers
4.2.2 Generation Market Power Mitigation
