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The increasing penetration of renewable energy in recent years has led to more uncertainties in power systems. These uncertainties have to be accommodated by flexible resources (i.e., upward and downward generation reserves). In this paper, a novel concept, Uncertainty Marginal Price (UMP), is proposed to price both the uncertainty and generation reserve. At the same time, the energy is priced at...
Lagrangian relaxation based methods (LR) are among the most successful approaches for solving hydrothermal scheduling problems (HTS). Standard subgradient method (SSM) has long been the widely accepted choice for solving the dual problem when LR is used to solve HTS. However, solution oscillations and slow convergence are often observed in implementation of SSM. In this paper, a revised subgradient...
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