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In electricity markets with strategic bidding of wind power producer (WPP), it is an important issue to deal with WPP's imbalance between its actual output and bid output. A joint planning and operation strategy of WPP and demand response (DR) aggregator is capable of reducing the wind power output deviations. In this paper, a multi-period stochastic Cournot equilibrium model of the electricity market...
In an electricity market with strategic bidding of wind power, penalties are applied whenever the delivered wind power deviates from the bid. In order to investigate the impacts of bidding deviation penalties on wind firm's bidding behaviors, a stochastic Cournot equilibrium model is presented. In this model, a scenario reduction technique is employed to describe the uncertainty of wind speed. We...
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