Risk- and Variance-Aware Electricity Pricing

Autor:	Mieth, Robert, Kim, Jip, Dvorkin, Yury
Rok vydání:	2019
Předmět:	Electrical Engineering and Systems Science - Systems and Control
Druh dokumentu:	Working Paper
Popis:	The roll-out of stochastic renewable energy sources (RES) undermines the efficiency of power system and market operations. This paper proposes an approach to derive electricity prices that internalize RES stochasticity. We leverage a chance-constrained AC Optimal Power Flow (CC AC-OPF) model, which is robust against RES uncertainty and is also aware of the resulting variability (variance) of the system state variables. Using conic duality theory, we derive and analyze energy and balancing reserve prices that internalize the risk of system limit violations and the variance of system state variables. We compare the risk- and variance-aware prices on the IEEE 118-node testbed. Comment: Accepted for publication in PSCC 2020
Databáze:	arXiv
Externí odkaz:	http://arxiv.org/abs/1910.05409 Zobrazit plný text záznamu View this record from Arxiv