Abstract
This letter considers a stochastic electricity market in which the uncertainty is handled using a proportional control law and chance security constraints. We prove that in this framework, market clearing prices yielding a robust competitive market equilibrium can be computed and used for stochastic market settlements by risk-aware system operators. An illustrative case study corroborates the usefulness of the proposed approach.
Original language | English (US) |
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Pages (from-to) | 4634-4636 |
Number of pages | 3 |
Journal | IEEE Transactions on Power Systems |
Volume | 33 |
Issue number | 4 |
DOIs | |
State | Published - Jul 2018 |
Keywords
- Non-convexities
- equilibrium conditions
ASJC Scopus subject areas
- Energy Engineering and Power Technology
- Electrical and Electronic Engineering