2022
DOI: 10.24200/sci.2022.57750.5400
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A New Robust Bidding Approach for Wind Power Producers Participating in Competitive Power Markets with Correlated Market Prices

Abstract: In this research, a bidding problem for a wind-power plant participating in a dayahead power market with uncertain correlated market prices is studied. A new robust optimization approach considering correlation among uncertainty on the hourly prices in a day-ahead market is developed. This results in solutions with lower level of over-conservatism. For this purpose a new correlated polyhedral uncertainty set is introduced. To consider the uncertainty of market clearing prices and the value of power produced by… Show more

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