Related papers: A Multi-Bound Robust Optimization Approach for Ren…
In countries with an extended use of district heating (DH), the integrated operation of DH and power systems can increase the flexibility of the power system achieving a higher integration of renewable energy sources (RES). DH operators can…
The joint management of heat and power systems is believed to be key to the integration of renewables into energy systems with a large penetration of district heating. Determining the day-ahead unit commitment and production schedules for…
We present modeling and analysis of day-ahead spatio-temporal energy markets in which each competitive aggregator aims at making the highest profit by managing a complex mixture of different energy resources, such as conventional…
A robust power scheduling algorithm is proposed to schedule power flow between the main electricity grid and a microgird with solar energy generation and battery energy storage subject to uncertainty in solar energy production. To avoid…
The rapid integration of inverter-based resources (IBRs) into power systems has identified frequency security challenges due to reduced inertia and increased load volatility. This paper proposes a robust power reserve decision-making…
The problem of robust utility maximization in an incomplete market with volatility uncertainty is considered, in the sense that the volatility of the market is only assumed to lie between two given bounds. The set of all possible models…
Quantity and price risks are key uncertainties market participants face in electricity markets with increased volatility, for instance, due to high shares of renewables. From day ahead until real-time, there is a large variation in the best…
We consider the problem of co-optimized energy-reserve market clearing with state-of-charge (SoC) dependent bids from battery storage participants. While SoC-dependent bids capture storage's degradation and opportunity costs, such bids…
Sustainable forest management requires handling uncertainty introduced from various sources, considering different conflicting economic, environmental, and social objectives, and involving multiple decision-making periods. This study…
Wind energy is becoming an increasingly crucial component of a sustainable grid, but its inherent variability and limited predictability present challenges for grid operators. The energy sector needs novel forecasting techniques that can…
In this work, we study a single-machine scheduling problem that aims at minimizing the total cost of a schedule subject to start-time dependent costs. This framework naturally captures scenarios where costs fluctuate throughout the day,…
In this article, a multiple split method is proposed that enables construction of multidimensional probabilistic forecasts of a selected set of variables. The method uses repeated resampling to estimate uncertainty of simultaneous…
Electricity market operators worldwide use mixed-integer linear programming to solve the allocation problem in wholesale electricity markets. Prices are typically determined based on the duals of relaxed versions of this optimization…
This paper describes a novel approach to planning which takes advantage of decision theory to greatly improve robustness in an uncertain environment. We present an algorithm which computes conditional plans of maximum expected utility. This…
Integrating the gas and district heating with the electrical grid in a multi-energy grid has been shown to provide flexibility and prevent bottlenecks in the operation of electrical distribution grids. This integration assumes a top-down…
With the increasing penetration of intermittent renewable energy sources (RESs), it becomes increasingly challenging to maintain the supply-demand balance of power systems by solely relying on the generation side. To combat the volatility…
Demand-side management presents significant benefits in reducing the energy load in smart grids by balancing consumption demands or including energy generation and/or storage devices in the user's side. These techniques coordinate the…
The field of portfolio selection is an active research topic, which combines elements and methodologies from various fields, such as optimization, decision analysis, risk management, data science, forecasting, etc. The modeling and…
Accommodating the uncertain and variable renewable energy sources (VRES) in electricity markets requires sophisticated and scalable tools to achieve market efficiency. To account for the uncertain imbalance costs in the real-time market…
Maintaining the stability of renewable-dominant power systems requires the procurement of virtual inertia services from non-synchronous resources (e.g., batteries, wind turbines) in addition to inertia traditionally provided by synchronous…