Stochastic market clearing under uncertainty

Golbon Zakeri
University of Auckland

With increasing penetration of renewables in the generation mix, larger magnitudes of volatility needs to be accommodated in a robust and reliable electricity grid. We can procure the back up for volatile renewable sources of generation by utilizing expensive
and often polluting options such as back up thermal generation and frequency keeping. Another option is to tie the electricity production and ``regulation'' together through stochastic programming. I will discuss stochastic programming market clearing designs and their properties.

Presentation (PDF File)

Back to Optimization and Equilibrium in Energy Economics