Uncertainty-Informed Renewable Energy Scheduling: A Scalable Bilevel Framework

no code implementations • 6 Dec 2023 • Dongwei Zhao, Vladimir Dvorkin, Stefanos Delikaraoglou, Alberto J. Lamadrid L., Audun Botterud

Furthermore, we find that when transmission capacity increases, the proposed bilevel model will still reduce the system cost, whereas the myopic strategy may incur a much higher cost due to over-scheduling of VRES in the day-ahead market and the lack of flexible conventional generators in real time.

Bilevel Optimization Scheduling

A Scalable Bilevel Framework for Renewable Energy Scheduling

no code implementations • 25 Nov 2022 • Dongwei Zhao, Vladimir Dvorkin, Stefanos Delikaraoglou, Alberto J. Lamadrid L., Audun Botterud

Accommodating the uncertain and variable renewable energy sources (VRES) in electricity markets requires sophisticated and scalable tools to achieve market efficiency.

Scheduling

Revenue Adequate Prices for Chance-Constrained Electricity Markets with Variable Renewable Energy Sources

no code implementations • 4 May 2021 • Xin Shi, Alberto J. Lamadrid L., Luis F. Zuluaga

In this article, we study the problem of deriving revenue adequate prices for an electricity market-clearing model with uncertainties resulting from the use of variable renewable energy sources (VRES).