All Outputs (3)

Opportunity Cost Bidding by Wind Generators in Forward Markets: Analytical Results (2011)
Journal Article
Dent, C., Bialek, J., & Hobbs, B. (2011). Opportunity Cost Bidding by Wind Generators in Forward Markets: Analytical Results. IEEE Transactions on Power Systems, 26(3), 1600-1608. https://doi.org/10.1109/tpwrs.2010.2100412

Wind generation must trade in forward electricity markets based on imperfect forecasts of its output and real-time prices. When the real-time price differs for generators that are short and long, the optimal forward strategy must be based on the oppo... Read More about Opportunity Cost Bidding by Wind Generators in Forward Markets: Analytical Results.

Non-iterative Method for Modeling Systematic Data Errors in Power System Risk Assessment (2011)
Journal Article
Dent, C., & Bialek, J. (2011). Non-iterative Method for Modeling Systematic Data Errors in Power System Risk Assessment. IEEE Transactions on Power Systems, 26(1), 120-127. https://doi.org/10.1109/tpwrs.2009.2037636

This paper provides a new framework for modeling uncertainty in the input data for power system risk calculations, and the error bars that this places on the results. Differently from previous work, systematic error in unit availability probabilities... Read More about Non-iterative Method for Modeling Systematic Data Errors in Power System Risk Assessment.

Smart Operation of Smart Grid: Risk-Limiting Dispatch (2011)
Journal Article
Varaiya, P., Wu, F., & Bialek, J. (2011). Smart Operation of Smart Grid: Risk-Limiting Dispatch. Proceedings of the IEEE, 99(1), 40-57. https://doi.org/10.1109/jproc.2010.2080250

The drastic reduction of carbon emission to combat global climate change cannot be realized without a significant contribution from the electricity sector. Renewable energy resources must take a bigger share in the generation mix, effective demand re... Read More about Smart Operation of Smart Grid: Risk-Limiting Dispatch.