Subject of this analysis is to show how storage is operated optimally under renewable and load uncertainty in the electricity system context. We estimate a homogeneous Markov Chain representation of the residual load in Germany in 2014 on an hourly basis and design a very simple dynamic stochastic electricity system model with non-intermittent generation technologies and storage. We compare the...

Typically, in competitive electricity markets, the vertically integrated utilities that were responsible for ensuring system reliability in their own service territories, or groups of territories, cease to exist. The burden falls to an independent system operator (ISO) to ensure that enough ancillary services (AS) are available for safe, stable, and reliable operation of the grid, typically den...

With the increasing use of different types of auctions in market designing, modeling of participants’ behaviors to evaluate the market structure is one of the main discussions in the studies related to the deregulated power industries. In this article, we apply an approach of the optimal bidding behavior to the Iran wholesale electricity market as a restructured electric power industry and mode...

This paper proposes an approach to the intraday analysis of the dynamics of electricity prices. The growth optimal portfolio (GOP) is used as a reference unit in a continuous financial electricity price model. A diversified global portfolio in the form a market capitalisation weighted index approximates the GOP. The GOP, measured in units of electricity, is normalised and then modelled as a tim...

New challenges are arising for the European electricity network due to the large scale integration of wind energy, characterized through stochastic nature and often remote location. A multivariate uncertainty analysis problem was formulated for the integration of stochastic wind energy in the European power grid, and a Monte Carlo simulation method was used to solve it. The model covers the com...

We propose a simple model that integrates multiperiod electricity markets, uncertainty in renewable generation, and real-time dynamic demand response. A load-serving entity decides its day-ahead procurement to optimize expected social welfare a day before energy delivery. At delivery time when renewable generation is realized, it sets prices to manage demand and purchase additional power on the...

We propose a simple model that integrates twoperiod electricity markets, uncertainty in renewable generation, and real-time dynamic demand response. A load-serving entity decides its day-ahead procurement to optimize expected social welfare a day before energy delivery. At delivery time when renewable generation is realized, it sets prices to manage demand and purchase additional power on the r...

The electricity market has been widely introduced in many countries all over the world and the study on electricity price forecast technology has drawn a lot of attention. In this paper, with different parameter Ci and ei assigned to each training data, the flexible Ci Support Vector Regression (SVR) model is developed in terms of the particularity of the price forecast in electricity market. F...