Pump storage plants are an important electricity storage technology at present. Investments in this technology are expected to increase. The necessary investment valuation often includes expected cash flows from future price-based unit commitment policies. A price-based unit commitment policy...

This paper analyzes the operation of a fully renewable electric energy system from the viewpoint of the system operator. The generation system is dominated by concentrating solar power plants (CSP) with storage, and includes wind and biomass power plants and pumped-storage facilities. The...

A long-standing issue with centrally committed electricity markets is the design of non-confiscatory and equilibrium-supporting prices. This is because the social planner's problem in such a market is a non-convex unit commitment. O'Neill et al. (2005) propose a pricing scheme that overcomes...

In this paper, we investigate the representation of wind power forecasting (WPF) uncertainty in the unit commitment (UC) problem. While deterministic approaches use a point forecast of wind power output, WPF uncertainty in the stochastic UC alternative is captured by a number of scenarios that...

In this paper, we propose a new unit commitment model that captures the sub-hourly variability of wind power. Scenarios are included in the stochastic unit commitment formulation to represent the uncertainty and intermittency of wind power output. A modified Benders decomposition method is used...

The future power system is characterized by more renewable and uncontrollable capacity at the supply side and an electrification of energy at the demand side. Both evolutions increase the need for flexibility in the power system. Although this flexibility can be triggered at the supply and...

Demand response (DR) has been considered as a generation alternative to improve the reliability indices of the system and load point. However, when the demand resources scheduled in the DR market fail to result in demand reductions, it can potentially bring new problems associated with...

In this paper, a new market integration approach for responsive loads is proposed. Large, spatially-distributed populations of heat pumps, electric vehicles, and electrolyzers are integrated into the conventional security constrained economic dispatch formulation using a hierarchical load...

This paper describes a method to characterize the fluctuating electricity generation of renewable energy sources (RESs) in a power system and compares the different parameters for California and Germany. Based on this method describing the fluctuation and residual load, the potential...

Demand response (DR) extends customer participation to power systems and results in a paradigm shift from simplex to interactive operation in power systems due to the advancement of smart grid technology. Therefore, it is important to model the customer characteristics in DR. This paper proposes...