In a truly smart grid, system load would be known in advance with a high degree of confidence. Currently, this goal of “smart forecasting” is far from being realized. In the Pacific Gas and Electric (PG&E) aggregation area managed by the California Independent System Operator (ISO), the root mean squared day-ahead forecast error was about 3.8 percent of mean actual load over the period 1 April ...

U.S. Day-Ahead Markets (DAMs) for wholesale electric power managed by Independent System Operators (ISOs) encompass more than 60% of U.S. generating capacity. The current design of these DAMs encourages a focus on decisions that minimize immediate net costs without explicit consideration of pre-DAM and post-DAM decision opportunities. This study proposes a practical DAM reformulation that enabl...

In this master thesis, a model is proposed to enable profitable market participation of wind power plants considering the availability of second-party owned energy storage. A novel concept of storage capacity reservations is presented using which the wind power producer hedges against wind outcomes which are unfavourable with respect to its day-ahead market bids. The idea that wind power produc...

With a large-scale introduction of plug-in electric vehicles (PEVs), a new entity, the PEV fleet aggregator, is expected to be responsible for managing the charging of, and for purchasing electricity for, the vehicles. This book chapter deals with the problem of an aggregator bidding into the day-ahead electricity market with the objective of minimizing charging costs while satisfying the PEVs’...

In the electricity market environment, thermal power units have changed from executors of production under monopoly mechanism to decision-makers and operation competitive environment. The merits demerits bidding schemes for are directly related self-interest themselves. decisions plants not only affected by economic factors, but also technical factors peculiar system electric generator. recent ...

Solar and wind generation are the primary tools to prevent climate change high carbon emissions. Due their intermittent characteristics, solar power plants have a different impact on market-clearing price formation compared conventional sources. The paper investigates effect day ahead in Turkey between 2016 2022. We used 2nd order polynomial learner model analyze of level volatility. find that ...

This paper presents a new framework for the day-ahead reactive power market based on the uniform auction price. Voltage stability and security have been considered in the proposed framework. Total Payment Function (TPF) is suggested as the objective function of the Optimal Power Flow (OPF) used to clear the reactive power market. Overload, voltage drop and voltage stability margin (VSM) are inc...