Risk- and variance-aware electricity pricing

The roll-out of stochastic renewable energy sources (RES) undermines the efficiency of power system and market operations. This paper proposes an approach to derive electricity prices that internalize RES stochasticity. We leverage a chance-constrained AC Optimal Power Flow (CC AC-OPF) model, which...

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Veröffentlicht in:	Electric power systems research 2020-12, Vol.189, p.106804, Article 106804
Hauptverfasser:	Mieth, Robert, Kim, Jip, Dvorkin, Yury
Format:	Artikel
Sprache:	eng
Schlagworte:	Electric power systems Electricity Electricity pricing Power flow Prices Renewable energy sources Risk Risk factors State variable Stochastic electricity market Stochastic models Uncertainty Variance Variance analysis
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