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Market Clearing under Uncertainty: Wind Energy

In: Decision Making Under Uncertainty in Electricity Markets

Author

Listed:
  • Antonio J. Conejo

    (University of Castilla – La Mancha)

  • Miguel Carrión

    (University of Castilla – La Mancha)

  • Juan M. Morales

    (University of Castilla – La Mancha)

Abstract

Power systems are subject to a great variety of uncertainties. Restructuring and competition in electricity systems are definitely contingent on the available means to overcome the difficulties brought by these uncertainties. In the case of electricity trade, holding a competitive framework constitutes a task tougher than for other commodities due to the particularities of the electricity transactions. As a key example, the transmission of electrical energy is such that the production and consumption at a given bus of the system do affect the entire system. Therefore, the actions to be carried out in order to accommodate these uncertainties without compromising the consistency of the tradecall for a global management able to involve, if required, the participation of every agent in the system.

Suggested Citation

  • Antonio J. Conejo & Miguel Carrión & Juan M. Morales, 2010. "Market Clearing under Uncertainty: Wind Energy," International Series in Operations Research & Management Science, in: Decision Making Under Uncertainty in Electricity Markets, chapter 0, pages 405-446, Springer.
    • Handle: RePEc:spr:isochp:978-1-4419-7421-1_11
    DOI: 10.1007/978-1-4419-7421-1_11
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