Decision making in forward power markets with supply and demand uncertainty
Resumen:
The paper studies forward markets of electric energy, where generators and consumers bid for quantities of energy ahead of time, but face uncertainty on their real-time supply or demand, expressed through a probability distribution. The optimal forward decision is derived in both cases, providing extensions to the recent literature on this topic. In particular, the case where demand is elastic in addition to uncertain is addressed in detail. Finally, we analyze the integrated forward market where buyers and sellers of random energy interact with dispatchable sellers to determine a clearing price
| 2014 | |
|
Uncertainty Real-time systems Random variables Correlation Supply and demand Optimization Elasticity |
|
| Inglés | |
| Universidad de la República | |
| COLIBRI | |
| https://hdl.handle.net/20.500.12008/41821 | |
| Acceso abierto | |
| Licencia Creative Commons Atribución - No Comercial - Sin Derivadas (CC - By-NC-ND 4.0) |
| _version_ | 1807522939310964736 |
|---|---|
| author | Paganini, Fernando |
| author2 | Belzarena, Pablo Monzón, Pablo |
| author2_role | author author |
| author_facet | Paganini, Fernando Belzarena, Pablo Monzón, Pablo |
| author_role | author |
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| collection | COLIBRI |
| dc.creator.none.fl_str_mv | Paganini, Fernando Belzarena, Pablo Monzón, Pablo |
| dc.date.accessioned.none.fl_str_mv | 2023-12-11T19:57:55Z |
| dc.date.available.none.fl_str_mv | 2023-12-11T19:57:55Z |
| dc.date.issued.es.fl_str_mv | 2014 |
| dc.date.submitted.es.fl_str_mv | 20231211 |
| dc.description.abstract.none.fl_txt_mv | The paper studies forward markets of electric energy, where generators and consumers bid for quantities of energy ahead of time, but face uncertainty on their real-time supply or demand, expressed through a probability distribution. The optimal forward decision is derived in both cases, providing extensions to the recent literature on this topic. In particular, the case where demand is elastic in addition to uncertain is addressed in detail. Finally, we analyze the integrated forward market where buyers and sellers of random energy interact with dispatchable sellers to determine a clearing price |
| dc.description.es.fl_txt_mv | Trabajo aceptado en 48th Annual Conference on Information Sciences and Systems (CISS). Princeton, NJ, USA , 19-21 mar., 2014 |
| dc.identifier.citation.es.fl_str_mv | Paganini, F, Belzarena, P, Monzón, P. "Decision making in forward power markets with supply and demand uncertainty" Publicado en: Proceedings of the 48th Annual Conference on Information Sciences and Systems (CISS), Princeton, NJ, USA, 19-21 mar, 2014, pp. 1-6, doi: 10.1109/CISS.2014.6814131. |
| dc.identifier.uri.none.fl_str_mv | https://hdl.handle.net/20.500.12008/41821 |
| dc.language.iso.none.fl_str_mv | en eng |
| dc.rights.license.none.fl_str_mv | Licencia Creative Commons Atribución - No Comercial - Sin Derivadas (CC - By-NC-ND 4.0) |
| dc.rights.none.fl_str_mv | info:eu-repo/semantics/openAccess |
| dc.source.none.fl_str_mv | reponame:COLIBRI instname:Universidad de la República instacron:Universidad de la República |
| dc.subject.es.fl_str_mv | Uncertainty Real-time systems Random variables Correlation Supply and demand Optimization Elasticity |
| dc.title.none.fl_str_mv | Decision making in forward power markets with supply and demand uncertainty |
| dc.type.es.fl_str_mv | Ponencia |
| dc.type.none.fl_str_mv | info:eu-repo/semantics/conferenceObject |
| dc.type.version.none.fl_str_mv | info:eu-repo/semantics/publishedVersion |
| description | Trabajo aceptado en 48th Annual Conference on Information Sciences and Systems (CISS). Princeton, NJ, USA , 19-21 mar., 2014 |
| eu_rights_str_mv | openAccess |
| format | conferenceObject |
| id | COLIBRI_85f3b17a90ce3d19e10b10ff98302302 |
| identifier_str_mv | Paganini, F, Belzarena, P, Monzón, P. "Decision making in forward power markets with supply and demand uncertainty" Publicado en: Proceedings of the 48th Annual Conference on Information Sciences and Systems (CISS), Princeton, NJ, USA, 19-21 mar, 2014, pp. 1-6, doi: 10.1109/CISS.2014.6814131. |
| instacron_str | Universidad de la República |
| institution | Universidad de la República |
| instname_str | Universidad de la República |
| language | eng |
| language_invalid_str_mv | en |
| network_acronym_str | COLIBRI |
| network_name_str | COLIBRI |
| oai_identifier_str | oai:colibri.udelar.edu.uy:20.500.12008/41821 |
| publishDate | 2014 |
| reponame_str | COLIBRI |
| repository.mail.fl_str_mv | mabel.seroubian@seciu.edu.uy |
| repository.name.fl_str_mv | COLIBRI - Universidad de la República |
| repository_id_str | 4771 |
| rights_invalid_str_mv | Licencia Creative Commons Atribución - No Comercial - Sin Derivadas (CC - By-NC-ND 4.0) |
| spelling | 2023-12-11T19:57:55Z2023-12-11T19:57:55Z201420231211Paganini, F, Belzarena, P, Monzón, P. "Decision making in forward power markets with supply and demand uncertainty" Publicado en: Proceedings of the 48th Annual Conference on Information Sciences and Systems (CISS), Princeton, NJ, USA, 19-21 mar, 2014, pp. 1-6, doi: 10.1109/CISS.2014.6814131.https://hdl.handle.net/20.500.12008/41821Trabajo aceptado en 48th Annual Conference on Information Sciences and Systems (CISS). Princeton, NJ, USA , 19-21 mar., 2014The paper studies forward markets of electric energy, where generators and consumers bid for quantities of energy ahead of time, but face uncertainty on their real-time supply or demand, expressed through a probability distribution. The optimal forward decision is derived in both cases, providing extensions to the recent literature on this topic. In particular, the case where demand is elastic in addition to uncertain is addressed in detail. Finally, we analyze the integrated forward market where buyers and sellers of random energy interact with dispatchable sellers to determine a clearing priceMade available in DSpace on 2023-12-11T19:57:55Z (GMT). No. of bitstreams: 5 PBM14.pdf: 101555 bytes, checksum: 3638e184e221fb6ac43e348e0ae92803 (MD5) license_text: 21936 bytes, checksum: 9833653f73f7853880c94a6fead477b1 (MD5) license_url: 49 bytes, checksum: 4afdbb8c545fd630ea7db775da747b2f (MD5) license_rdf: 23148 bytes, checksum: 9da0b6dfac957114c6a7714714b86306 (MD5) license.txt: 4244 bytes, checksum: 528b6a3c8c7d0c6e28129d576e989607 (MD5) Previous issue date: 2014enengLas obras depositadas en el Repositorio se rigen por la Ordenanza de los Derechos de la Propiedad Intelectual de la Universidad De La República. (Res. Nº 91 de C.D.C. de 8/III/1994 – D.O. 7/IV/1994) y por la Ordenanza del Repositorio Abierto de la Universidad de la República (Res. Nº 16 de C.D.C. de 07/10/2014)info:eu-repo/semantics/openAccessLicencia Creative Commons Atribución - No Comercial - Sin Derivadas (CC - By-NC-ND 4.0)UncertaintyReal-time systemsRandom variablesCorrelationSupply and demandOptimizationElasticityDecision making in forward power markets with supply and demand uncertaintyPonenciainfo:eu-repo/semantics/conferenceObjectinfo:eu-repo/semantics/publishedVersionreponame:COLIBRIinstname:Universidad de la Repúblicainstacron:Universidad de la RepúblicaPaganini, FernandoBelzarena, PabloMonzón, 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- Universidad de la Repúblicafalse |
| spellingShingle | Decision making in forward power markets with supply and demand uncertainty Paganini, Fernando Uncertainty Real-time systems Random variables Correlation Supply and demand Optimization Elasticity |
| status_str | publishedVersion |
| title | Decision making in forward power markets with supply and demand uncertainty |
| title_full | Decision making in forward power markets with supply and demand uncertainty |
| title_fullStr | Decision making in forward power markets with supply and demand uncertainty |
| title_full_unstemmed | Decision making in forward power markets with supply and demand uncertainty |
| title_short | Decision making in forward power markets with supply and demand uncertainty |
| title_sort | Decision making in forward power markets with supply and demand uncertainty |
| topic | Uncertainty Real-time systems Random variables Correlation Supply and demand Optimization Elasticity |
| url | https://hdl.handle.net/20.500.12008/41821 |
