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Stochastic programming methods have been proven to deal effectively with the uncertainty and variability of renewable generation resources. However, the quality of the solution that they provide (as measured by cost and reliability metrics) depends on the accuracy and the number of scenarios used to model this uncertainty and variability. Scenario reduction techniques are used to manage the computational...
Wind power is playing an increasingly important role in electricity markets. However, it's inherent variability and uncertainty cause operational challenges and costs as more operating reserves are needed to maintain system reliability. Several operational strategies have been proposed to address these challenges, including advanced probabilistic wind forecasting techniques, dynamic operating reserves,...
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