We consider the scenario where $N$ utilities strategically bid for electricity in day-ahead market and balance mismatch between committed supply actual demand real-time market, with uncertainty local renewable generation consideration. ...

The existing power loads are continuously increasing and leading to various challenges related economics systems constraints. Any uncontrolled fluctuations of the demand over consecutive hours would dramatically complicate correct management generation. Therefore, this paper provides an effective solution for managing uncertainty in providing optimal scheduling generation based on active load o...

Within a yearly time framework this tutorial paper describes stochastic programming models to determine the electricity market strategies pertaining to producers, consumers and retailers. A year-ahead forward market and a day-ahead pool market are considered. Hourly pool prices as well as the hourly demands of consumers and retailers are modeled as stochastic variables. Decisions pertaining to ...

Forecasting hourly electricity prices and their characteristic properties is a core challenge for energy generation companies trading houses. The short-term marketing purchase of usually managed with standardized products traded on different markets specific temporal resolution maturity. size scope the price forecasting literature has grown significantly in recent years, majority studies focuse...

Competition in day-ahead electricity markets has been established through auctions where generators and loads bid prices and quantities. Different approaches have been discussed regarding the market auction design. Multi-round auctions, despite its implementation complexity, allow market participants to adapt their successive bids to market prices considering their operational and economic cons...

An important objective of electricity suppliers is to maximize their profits over a planning horizon and comply with the market rules. This objective requires suppliers to learn from their bidding experience and behave in an anticipatory way. With volatile Locational Marginal Prices (LMPs), ever-changing transmission grid conditions, and incomplete information about other market participants, d...