Multi-period Optimal Procurement and Demand Responses in the Presence of Uncertain Supply Libin Jiang

@inproceedings{Low2011MultiperiodOP,
  title={Multi-period Optimal Procurement and Demand Responses in the Presence of Uncertain Supply Libin Jiang},
  author={Steven H. Low},
  year={2011}
}
We propose a simple model that integrates twoperiod electricity markets, uncertainty in renewable generation, and real-time dynamic demand response. A load-serving entity decides its day-ahead procurement to optimize expected social welfare a day before energy delivery. At delivery time when renewable generation is realized, it sets prices to manage demand and purchase additional power on the real-time market, if necessary, to balance supply and demand. We derive the optimal day-ahead decision… CONTINUE READING