Electricity market clearing with improved scheduling of stochastic production

DOI10.1016/j.ejor.2013.11.013zbMath1305.91193DBLPjournals/eor/MoralesZPP14OpenAlexW1970156396WikidataQ57674680 ScholiaQ57674680MaRDI QIDQ2256346

Pierre Pinson, Juan M. Morales, Salvador Pineda, Marco Zugno

Publication date: 19 February 2015

Published in: European Journal of Operational Research (Search for Journal in Brave)

Full work available at URL: https://orbit.dtu.dk/en/publications/92652e79-1e0e-4f12-9fbd-6a3c2f2d4ece

zbMATH Keywords

stochastic programmingbilevel programmingelectricity marketOR in energywind powerelectricity pricing

Mathematics Subject Classification ID

Stochastic programming (90C15) Microeconomic theory (price theory and economic markets) (91B24) Environmental economics (natural resource models, harvesting, pollution, etc.) (91B76) Economic models of real-world systems (e.g., electricity markets, etc.) (91B74)

Related Items (17)

Towards a sustainable power grid: stochastic hierarchical planning for high renewable integration ⋮ Wind farm portfolio optimization under network capacity constraints ⋮ Forward thresholds for operation of pumped-storage stations in the real-time energy market ⋮ The spot and balancing markets for electricity: open- and closed-loop equilibrium models ⋮ Capacity expansion of stochastic power generation under two-stage electricity markets ⋮ Strategic offering of a flexible producer in day-ahead and intraday power markets ⋮ Optimal procurement of flexibility services within electricity distribution networks ⋮ Why there is no need to use a big-\(M\) in linear bilevel optimization: a computational study of two ready-to-use approaches ⋮ Coordination of power and natural gas markets via financial instruments ⋮ A Stochastic Electricity Market Clearing Formulation with Consistent Pricing Properties ⋮ Wasserstein distributionally robust chance-constrained optimization for energy and reserve dispatch: an exact and physically-bounded formulation ⋮ An integrated market for electricity and natural gas systems with stochastic power producers ⋮ Medium-term power planning in electricity markets with pool and bilateral contracts ⋮ 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 ⋮ Efficiently solving linear bilevel programming problems using off-the-shelf optimization software ⋮ A complementarity model for electric power transmission-distribution coordination under uncertainty

Uses Software

• CPLEX

Cites Work

• Equilibrium prices supported by dual price functions in markets with non-convexities
• Bilevel and multilevel programming: A bibliography review
• Foundations of bilevel programming
• Scenario reduction algorithms in stochastic programming
• Introduction to Stochastic Programming
• A Single-Settlement, Energy-Only Electric Power Market for Unpredictable and Intermittent Participants
• A Representation and Economic Interpretation of a Two-Level Programming Problem

This page was built for publication: Electricity market clearing with improved scheduling of stochastic production