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Stochasticity in Electric Energy Systems Planning

In: Coping with Uncertainty

Author

Listed:
  • A. Ramos

    (Universidad Pontificia Comillas)

  • S. Cerisola

    (Universidad Pontificia Comillas)

  • Á. Baíllo

    (Universidad Pontificia Comillas)

  • J. M. Latorre

    (Universidad Pontificia Comillas)

Abstract

Electric energy systems have always been a continuous source of applications of planning under uncertainty. Stochastic parameters that may strongly affect the electric system are demand, natural hydro inflows and fuel prices, among others. A review of some estimation methods used to approximate those parameters is presented. Reliability and stochastic optimisation are widespread techniques used to incorporate random parameters in the decision-making process in electric companies. A unit commitment, a market-based unit commitment, a hydrothermal coordination and a risk management model are typical models that can incorporate uncertainty in the decision framework.

Suggested Citation

  • A. Ramos & S. Cerisola & Á. Baíllo & J. M. Latorre, 2006. "Stochasticity in Electric Energy Systems Planning," Lecture Notes in Economics and Mathematical Systems, in: Coping with Uncertainty, pages 217-239, Springer.
    • Handle: RePEc:spr:lnechp:978-3-540-35262-4_13
    DOI: 10.1007/3-540-35262-7_13
    as

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