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This paper presents a model based on stochastic programming for hourly scheduling of wind power energy and reserve facing uncertainty in electricity markets. Uncertainties regarding the wind availability, balancing energy, and market prices are considered throughout the paper. Demand response resources are considered as an economical option that can cover wind power prediction error in a short term...
This paper analyzes the impact of scarcity prices and demand response capacity on the resource adequacy in the German energy-only market with a probabilistic framework. By considering the uncertainty both in generation and demand side, we implement a Monte Carlo analysis to examine all potential economic and reliability outcomes. A system dynamic model is proposed to evaluate the hourly and annual...
Meeting peak demand is a major concern for grid operators, sometimes amplified by the liberalization of the electricity industry. Peak resources operate during a short period, at a high operating cost, and face difficulties to recover their investments. Sending the proper market signals to trigger long term generation investments in these types of generating units is a critical issue. Different incentivizing...
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