Abstract

As net-load becomes less predictable there is a lot of pressure in changing decision models for power markets such that they account explicitly for future scenarios in making commitment decisions. This paper proposes to make commitment decisions with multiple gate closures. Our proposed model also leverages a state-space formulation for the commitment variables, through which the operational constraints of generation units participating in the market are respected. We also study the problem of constructing scenario tree approximations for stochastic processes and evaluate our algorithms on scenario tree libraries derived from real net-load data.

Original languageEnglish (US)
JournalIEEE Transactions on Power Systems
DOIs
StateAccepted/In press - Nov 1 2017

Keywords

  • Intraday markets
  • Load scenario tree library
  • Multistage stochastic optimization
  • Stochastic unit commitment

ASJC Scopus subject areas

  • Energy Engineering and Power Technology
  • Electrical and Electronic Engineering

Fingerprint Dive into the research topics of 'A Dynamic Multistage Stochastic Unit Commitment Formulation for Intraday Markets'. Together they form a unique fingerprint.

  • Cite this