• Corpus ID: 239616163

Reliability-Aware Probabilistic Reserve Procurement

  title={Reliability-Aware Probabilistic Reserve Procurement},
  author={Lars Herre and Pierre Pinson and Spyros Chatzivasileiadis},
Current reserve procurement approaches ignore the stochastic nature of reserve asset availability itself and thus limit the type and volume of reserve offers. This paper develops a reliability-aware probabilistic approach that allows renewable generators to offer reserve capacity with reliability attributes. Offers with low reliability are priced at lower levels. The original non-convex market clearing problem is approximated by a MILP reformulation. The proposed probabilistic reserve… 

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