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Michael Caramanis is a professor of systems and mechanical engineering at Boston University with expertise in mathematical economics, optimization, and stochastic dynamic decision making. He has 40 years’ experience in electricity generation expansion, supply chain optimization, and spatiotemporal marginal costing of electricity in transmission and distribution networks. Dr. Caramanis has directed numerous research projects on these issues sponsored by the Electric Power Research Institute, New York State Energy Research and Development Authority, National Science Foundation, and the electric industry. He has authored or co-authored more than 100 refereed publications.
The focus of Dr. Caramanis’ current research and consulting is marginal costing and dynamic pricing in smart power grids, grid topology control to mitigate congestion, and extending power markets into distribution systems in order to enable increased market participation by distribution connected loads, generation and storage resources.
Dr. Caramanis served as chair of the Greek Regulatory Authority for Energy from 2005 through 2009, and chaired the Investment Group of the International Energy Charter from 2004 to 2008. Dr. Caramanis was a member of the MIT team that developed the theory of spot pricing upon which real-time pricing and locational marginal pricing of electricity and transmissions services are based (Spot Pricing of Electricity, Kluwer Academic Publishers, 1988). Dr. Caramanis subsequently participated in pioneering the implementations of restructured wholesale electricity markets in the United Kingdom, Italy, the United States, and Spain.
The focus of Dr. Caramanis’ current research and consulting is marginal costing and dynamic pricing in smart power grids, grid topology control to mitigate congestion, and extending power markets into distribution systems in order to enable increased market participation by distribution connected loads, generation and storage resources.
Dr. Caramanis served as chair of the Greek Regulatory Authority for Energy from 2005 through 2009, and chaired the Investment Group of the International Energy Charter from 2004 to 2008. Dr. Caramanis was a member of the MIT team that developed the theory of spot pricing upon which real-time pricing and locational marginal pricing of electricity and transmissions services are based (Spot Pricing of Electricity, Kluwer Academic Publishers, 1988). Dr. Caramanis subsequently participated in pioneering the implementations of restructured wholesale electricity markets in the United Kingdom, Italy, the United States, and Spain.
