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Due to the inevitable prediction errors and/or sudden ramping down, the high penetration of wind power in electricity markets entails significant challenges. In this paper, a new demand response (DR) design targeting the power deficit (mainly caused by wind power) in the real-time market is proposed. When a power deficit is expected in the short-term operation, in comparison to exaggerated spot prices,...
This paper reports on the quantification of the variable effects of the integration of demand response resources (DRRs) in a power system with integrated renewable energy sources (RESs) and utility-scale energy storage systems (ESSs) with the various sources of uncertainty explicitly represented. We deploy a stochastic simulation approach based on Monte Carlo techniques to emulate the transmission-constrained...
Recent energy policies in several countries around the world, including in Europe, points the need to integrating growing amounts of distributed generation in electric power systems, namely at distribution networks level. Such resources are mainly of a distributed, non-dispatchable, and natural sources based nature (including wind power). With this, several changes in the operation and planning of...
In this study, a two-stage stochastic programming joint energy and reserve day-ahead market structure is proposed in order to procure the required load-following reserves to tackle with wind power production uncertainty. Reserves can be procured both from generation and demand-side. Responsive aggregations of loads, as well as large industrial consumers are considered. The proposed methodology is...
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