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Stochastic electricity dispatch: A challenge for market design

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  • Bjørndal, Endre
  • Bjørndal, Mette
  • Midthun, Kjetil
  • Tomasgard, Asgeir

Abstract

We consider an energy-only electricity market where some generation and/or load is uncertain, and where there are flexibility costs, i.e. some conventional power plants have to be scheduled well before real time in order to participate in the dispatch, while for others, additional cost incurs if generation plans have to be adjusted close to real time.

Suggested Citation

  • Bjørndal, Endre & Bjørndal, Mette & Midthun, Kjetil & Tomasgard, Asgeir, 2018. "Stochastic electricity dispatch: A challenge for market design," Energy, Elsevier, vol. 150(C), pages 992-1005.
    • Handle: RePEc:eee:energy:v:150:y:2018:i:c:p:992-1005
    DOI: 10.1016/j.energy.2018.02.055
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    References listed on IDEAS

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    Cited by:

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    4. Lina Silva-Rodriguez & Anibal Sanjab & Elena Fumagalli & Ana Virag & Madeleine Gibescu, 2020. "Short Term Electricity Market Designs: Identified Challenges and Promising Solutions," Papers 2011.04587, arXiv.org.
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    9. Samuli Honkapuro & Jasmin Jaanto & Salla Annala, 2023. "A Systematic Review of European Electricity Market Design Options," Energies, MDPI, vol. 16(9), pages 1-26, April.
    10. Kara, Güray & Pisciella, Paolo & Tomasgard, Asgeir & Farahmand, Hossein & Crespo del Granado, Pedro, 2022. "Stochastic local flexibility market design, bidding, and dispatch for distribution grid operations," Energy, Elsevier, vol. 253(C).
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    12. Piao, Longjian & de Vries, Laurens & de Weerdt, Mathijs & Yorke-Smith, Neil, 2021. "Electricity markets for DC distribution systems: Locational pricing trumps wholesale pricing," Energy, Elsevier, vol. 214(C).

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