Open AccessBook
Decision Making Under Uncertainty in Electricity Markets
L.A. Barroso,Antonio J. Conejo +1 more
TLDR
In this paper, the authors consider stochastic programming models for decision-making under uncertainty in the context of electricity markets and provide a brief overview of modeling and solution techniques within a mathematical programming framework.Abstract:
This paper considers stochastic programming models for decision-making under uncertainty in the context of electricity markets. It provides a brief overview of modeling and solution techniques within a mathematical programming framework. Tutorial as well as recent references are provided. This paper provides the guidelines for discussion in a panel session organized by the authors on "Decision Making under Uncertainty in Electricity Markets", scheduled for the IEEE PES 2006 General Meeting.read more
Citations
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Journal ArticleDOI
Stochastic Optimization Model to Study the Operational Impacts of High Wind Penetrations in Ireland
TL;DR: In this paper, a stochastic mixed integer linear optimization scheduling model minimizing system operation costs and treating load and wind power production as stochastically inputs is presented, and the schedules are updated in a rolling manner as more up-to-date information becomes available.
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Optimal Bidding Strategy for Microgrids Considering Renewable Energy and Building Thermal Dynamics
Duong Tung Nguyen,Long Bao Le +1 more
TL;DR: An optimal day-ahead price-based power scheduling problem for a community-scale microgrid (MG) is studied and the great benefits in exploiting the building thermal dynamics and the flexibility of the proposed scheduling method in achieving different practical design tradeoffs are presented.
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Optimal design of multi-energy systems with seasonal storage
TL;DR: In this paper, the authors presented a mixed integer linear program methodologies that allow considering a year time horizon with hour resolution while significantly reducing the complexity of the optimization problem, thus allowing to correctly size the energy storage and to operate the system with a long-term policy.
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Review of real-time electricity markets for integrating Distributed Energy Resources and Demand Response
TL;DR: In this article, a review of typical typical RTMs in North America, Australia and Europe, focusing on their market architectures and incentive policies for integrating distributed energy resources (DER) and demand response (DR) in electricity markets is presented.
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Optimal Offering Strategy of a Virtual Power Plant: A Stochastic Bi-Level Approach
TL;DR: This paper addresses the optimal bidding strategy problem of a commercial virtual power plant (CVPP), which comprises of distributed energy resources (DERs), battery storage systems (BSS), and electricity consumers, and participates in the day-ahead electricity market.
References
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BookDOI
Introduction to Stochastic Programming
John R. Birge,Franois Louveaux +1 more
TL;DR: This textbook provides a first course in stochastic programming suitable for students with a basic knowledge of linear programming, elementary analysis, and probability to help students develop an intuition on how to model uncertainty into mathematical problems.
Journal ArticleDOI
GAMS, a user's guide
TL;DR: JuMP is an open-source modeling language that allows users to express a wide range of ideas in an easy-to-use manner.
Journal ArticleDOI
Multi-stage stochastic optimization applied to energy planning
TL;DR: This paper presents a methodology for the solution of multistage stochastic optimization problems, based on the approximation of the expected-cost-to-go functions of Stochastic dynamic programming by piecewise linear functions.
Proceedings ArticleDOI
Scenario reduction and scenario tree construction for power management problems
TL;DR: Numerical experience is reported for constructing scenario trees for the load and spot market prices entering a stochastic portfolio management model of a German utility.