A Stochastic Electricity Market Clearing Formulation with Consistent Pricing Properties

DOI10.1287/OPRE.2016.1576zbMath1407.91185arXiv1510.08335OpenAlexW2215252713MaRDI QIDQ4604894

John R. Birge, Victor M. Zavala, Ki Baek Kim, Mihai Anitescu

Publication date: 6 March 2018

Published in: Operations Research (Search for Journal in Brave)

Full work available at URL: https://arxiv.org/abs/1510.08335

zbMATH Keywords

networkpricingstochasticelectricitymarket clearing

Mathematics Subject Classification ID

Stochastic models in economics (91B70) Microeconomic theory (price theory and economic markets) (91B24) Economic models of real-world systems (e.g., electricity markets, etc.) (91B74)

Related Items (12)

Operations Research: Topics, Impact, and Trends from 1952–2019 ⋮ Clustering-based preconditioning for stochastic programs ⋮ Capacity expansion of stochastic power generation under two-stage electricity markets ⋮ Commitment and dispatch of heat and power units via affinely adjustable robust optimization ⋮ On stochastic auctions in risk-averse electricity markets with uncertain supply ⋮ Optimal procurement of flexibility services within electricity distribution networks ⋮ Value at risk approach to producer's best response in an electricity market with uncertain demand ⋮ Moving from linear to conic markets for electricity ⋮ Coordination of power and natural gas markets via financial instruments ⋮ On the inefficiency of the merit order in forward electricity markets with uncertain supply ⋮ Market-based coordination of integrated electricity and natural gas systems under uncertain supply ⋮ Fairness measures for decision-making and conflict resolution

Cites Work

• Efficient market-clearing prices in markets with nonconvexities
• Financial transmission rights in convex pool markets.
• Electricity market clearing with improved scheduling of stochastic production
• Multiarea Stochastic Unit Commitment for High Wind Penetration in a Transmission Constrained Network
• A Single-Settlement, Energy-Only Electric Power Market for Unpredictable and Intermittent Participants
• Introduction to Stochastic Programming
• Single and Multisettlement Approaches to Market Clearing Under Demand Uncertainty

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