Bidding and Scheduling in Energy Markets: Which Probabilistic Forecast Do We Need?

@article{Beykirch2022BiddingAS,
  title={Bidding and Scheduling in Energy Markets: Which Probabilistic Forecast Do We Need?},
  author={Mario Beykirch and Tim Janke and Florian Steinke},
  journal={2022 17th International Conference on Probabilistic Methods Applied to Power Systems (PMAPS)},
  year={2022},
  pages={1-6}
}
Probabilistic forecasting in combination with stochastic programming is a key tool for handling the growing uncertainties in future energy systems. Derived from a general stochastic programming formulation for the optimal scheduling and bidding in energy markets we examine several common special instances containing uncertain loads, energy prices, and variable renewable energies. We analyze for each setup whether only an expected value forecast, marginal or bivariate predictive distributions… 

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