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• W2338985106 abstract "The large scale integration of renewable energy sources (RES) challenges power system planners and operators alike as it can potentially introduce the need for costly investments in infrastructure. Furthermore, traditional market clearing mechanisms are no longer optimal due to the stochastic nature of RES. This paper presents a risk-aware market clearing strategy for a network with significant shares of RES. We propose an electricity market that embeds the uncertainty brought by wind power and other stochastic renewable sources by accepting probabilistic offers and use a risk measure defined by conditional value-at-risk (CVaR) to evaluate the risk of high re-dispatching cost due to the mis-estimation of renewable energy. The proposed model is simulated on a 39-bus network, whereby it is shown that significant reductions can be achieved by properly managing the risks of mis-estimation of stochastic generation." @default.
• W2338985106 created "2016-06-24" @default.
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• W2338985106 date "2016-04-01" @default.
• W2338985106 modified "2023-10-15" @default.
• W2338985106 title "A robust optimisation approach using CVaR for unit commitment in a market with probabilistic offers" @default.
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• W2338985106 doi "https://doi.org/10.1109/energycon.2016.7514076" @default.
• W2338985106 hasPublicationYear "2016" @default.
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