Electric Power Systems

2

Uncertainty and Risk in Generation Scheduling

Rabih A. Jabr

2.1    Introduction

2.2    Generation Self-Scheduling

Test System Model

2.3    Measures of Risk

Value-at-Risk • Conditional Value-at-Risk

2.4    Data Uncertainty

Data Uncertainty in VaR • Data Uncertainty in CVaR

2.5    VaR Formulations

VaR-Based Nominal Robust Schedule • VaR-Based Worst-Case Robust Schedule • Example of VaR-Based Robust Scheduling

2.6    CVaR Formulations

CVaR-Based Nominal Robust Schedule • CVaR-Based Worst-Case Robust Schedule • Example on CVaR-Based Robust Scheduling

2.7    Conclusions

Appendix A2.1

Appendix A2.2

References

2.1    Introduction

Power generation companies compete in a deregulated energy market to sell the amount of power that maximizes their profit. ...