Risk neutral and risk averse power optimization in electricity networks with dispersed generation (Q1014316)

The paper under review is motivated by the increased importance of renewable energy such as wind or solar energy. The operation of electricity systems with dispersed generation requires simultaneous handling of unit commitment, power-flow and uncertainty. The mathematical formulation of the problems leads to mathematical optimization models, including combinatorial, network, and stochastic elements. The authors propose several mathematical models of this kind and algorithms for their solution. Various attitudes to risk are incorporated in the models, from risk neutrality to risk aversion. The approach presented in the paper differs from previous ones by incorporating transmission network explicitly. The algorithms are demonstrated on numerical examples presented in the concluding part of the paper.