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| Main Authors: | , , , , |
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| Format: | Preprint |
| Published: |
2025
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| Subjects: | |
| Online Access: | https://arxiv.org/abs/2504.16048 |
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Table of Contents:
- Online Feedback Optimization (OFO) controllers iteratively drive a plant to an optimal operating point that satisfies input and output constraints, relying solely on the input-output sensitivity as model information. This paper introduces PRIME (PRoximal Iterative MarkEts), a novel OFO approach based on proximal-point iterations. Unlike existing OFO solutions, PRIME admits a market-based implementation, where self-interested actors are incentivized to make choices that result in safe and efficient operation, without communicating private costs or constraints. Furthermore, PRIME can handle non-smooth objective functions, achieve fast convergence rates and rapid constraint satisfaction, and effectively reject measurement noise. We demonstrate PRIME on an AC optimal power flow problem, obtaining an efficient real-time nonlinear local marginal pricing scheme.