Abstract
Variable renewable generation resources are increasing their penetration on electric power grids. These resources have weather-driven fuel sources that vary on different time scales and are difficult to predict in advance. These characteristics create challenges for system operators managing the load balance on different timescales. Research is looking into new operational techniques andstrategies that show great promise on facilitating greater integration of variable resources. Stochastic Security-Constrained Unit Commitment models are one strategy that has been discussed in literature and shows great benefit. However, it is rarely used outside the research community due to its computational limits and difficulties integrating with electricity markets. This paper discusses howit can be integrated into day-ahead energy markets and especially on what pricing schemes should be used to ensure an efficient and fair market.
Original language | American English |
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Number of pages | 8 |
State | Published - 2012 |
Event | 12th International Conference on Probabilistic Methods Applied to Power Systems - Istanbul, Turkey Duration: 10 Jun 2012 → 14 Jun 2012 |
Conference
Conference | 12th International Conference on Probabilistic Methods Applied to Power Systems |
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City | Istanbul, Turkey |
Period | 10/06/12 → 14/06/12 |
NREL Publication Number
- NREL/CP-5500-53524
Keywords
- electricity markets
- power system economics
- power system operations
- unit commitment
- wind generation