no code implementations • 6 Dec 2023 • Dongwei Zhao, Vladimir Dvorkin, Stefanos Delikaraoglou, Alberto J. Lamadrid L., Audun Botterud
Furthermore, we find that when transmission capacity increases, the proposed bilevel model will still reduce the system cost, whereas the myopic strategy may incur a much higher cost due to over-scheduling of VRES in the day-ahead market and the lack of flexible conventional generators in real time.
no code implementations • 25 Nov 2022 • Dongwei Zhao, Vladimir Dvorkin, Stefanos Delikaraoglou, Alberto J. Lamadrid L., Audun Botterud
Accommodating the uncertain and variable renewable energy sources (VRES) in electricity markets requires sophisticated and scalable tools to achieve market efficiency.
no code implementations • 17 Feb 2021 • Orcun Karaca, Stefanos Delikaraoglou, Maryam Kamgarpour
Considering the sequential clearing of energy and reserves in Europe, enabling inter-area reserve exchange requires optimally allocating inter-area transmission capacities between these two markets.
Optimization and Control Computer Science and Game Theory