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This paper introduces the concept of affine reserve policies for accommodating large, fluctuating renewable infeeds in power systems. The approach uses robust optimization with recourse to determine operating rules for power system entities such as generators and storage units. These rules, or policies, establish several hours in advance how these entities are to respond to errors in the prediction...
With the advent of the liberalization of the electricity sector new markets have emerged, including markets for network ancillary services. Large electricity consumers' interest in participating in these markets is growing as they see an opportunity to make profits by selling flexibility of consumption. Time margins for shifting part of the scheduled consumption often exist, and they can be used to...
Iterative, or negotiated, pricing mechanisms have been of interest for decades as a systematic means of operating electricity markets, and have more recently been proposed as a way of dealing with the increased diversity of responsive market participants brought about by smart grid technologies and the increasing share of intermittent energy sources. One possibility is for the market coordinator to...
Rapid wind fluctuations make the systematic operation of electricity markets with high wind power penetration difficult. A novel dynamic pricing mechanism is presented, which uses a receding horizon principle to allow forecasts of wind power and demand to be incorporated as soon as they are available, and is shown to be capable of reducing dispatch costs on the hours timescale in volatile wind conditions...
A predictive mechanism is proposed in order to reduce price volatility linked to large fluctuations from demand and renewable energy generation in competitive electricity markets. The market participants are modelled as price-elastic units, price-inelastic units, and storage operators. The distributed control algorithm determines prices over a time horizon through a negotiation procedure in order...
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