From Network Dynamics to Market Dynamics: Understanding and Coordinating Future Power Systems

Speaker

Dr. Pengcheng You
Peking University

Abstract

Modern power systems are becoming increasingly complex, driven by the large-scale integration of heterogeneous energy resources and the growing decentralization of operational and economic decisions. This talk explores a system-level perspective for understanding and coordinating such complex power systems, with a particular focus on how desirable collective behavior can emerge from local physical and economic interactions. We first consider the physical layer and study coherency in heterogeneous nonlinear power networks. By introducing the notion of blended dynamics, we show how the collective behavior of a high-dimensional network can be characterized through a low-dimensional aggregate model, together with explicit bounds on the approximation error. This perspective provides insights into how network connectivity, dynamic heterogeneity, and disturbances jointly determine coherency, and enables system-level analysis and control based on the aggregate dynamics. We then turn from physical dynamics to economic coordination, where control actions arise from the interaction among the power network, electricity markets, and self-interested participants. We present a unified framework that connects network dynamics, market dynamics, and participant behavior through an underlying system-level optimization problem. This connection provides a principled approach to designing dynamic electricity markets that simultaneously account for physical stability, economic efficiency, and incentive compatibility. Together, these results illustrate a common theme: complex local interactions can admit simple system-level representations that not only facilitate analysis, but also provide a foundation for principled control and market design.

About Speaker

Dr. Pengcheng You is an Assistant Professor at the Department of Control Science and Systems Engineering, Peking University. He holds a joint appointment at the National Engineering Laboratory for Big Data Analysis and Applications, Peking University, and is a Startrack Visiting Professor at Microsoft Research Asia. He was a Postdoctoral Fellow and a Lecturer at Johns Hopkins University, and also worked at Caltech and PNNL. His research interests include optimization, control, and learning, with main application to power and energy systems. Dr. You earned his Ph.D. and B.S. degrees both from Zhejiang University, China.