The One-Trading-Day-Ahead Forecast Errors of Intra-Day Realized Volatility

Optimal energy management of microgrid in day-ahead and intra-day markets using a copula-based uncertainty modeling method

Recently, economic and environmental problems have created a strong attitude toward utilizing renewable energy sources (RESs). Nevertheless, uncertainty of wind and solar power leads to a more complicated energy management (EM) of RESs in microgrids. This paper models and solves the EM problem of microgrid from the generation point of view. To do this, mathematical formulation of a grid- connec...

Energy storage sizing for wind power: impact of the autocorrelation of day-ahead forecast errors

Availability of day-ahead production forecast is an important step towards better dispatchability of wind power production. However, the stochastic nature of forecast errors prevents a wind farm operator from holding a firm production commitment. In order to mitigate the deviation from the commitment, an energy storage system connected to the wind farm is considered. One statistical characteris...

Day-Ahead Active Power Scheduling in Active Distribution Network Considering Renewable Energy Generation Forecast Errors

With large-scale integration of distributed energy resources (DERs), distribution networks have turned into active distribution networks (ADNs). However, management risks and obstacles are caused by this in due to renewable energy generation (REG) forecasting errors. In this paper, a day-ahead active power scheduling method considering REG forecast errors is proposed to eliminate the risks, min...

Day-ahead Price Forecasting of Electricity Markets by a New Hybrid Forecast Method

Energy price forecast is the key information for generating companies to prepare their bids in the electricity markets. However, this forecasting problem is complex due to nonlinear, non-stationary, and time variant behavior of electricity price time series. Accordingly, in this paper a new strategy is proposed for electricity price forecast. The forecast strategy includes Wavelet Transform (WT...

One Day Ahead Stream Flow Forecasting