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Managing Uncertainty with Flexibility

  • Juan M. MoralesEmail author
  • Antonio J. Conejo
  • Henrik Madsen
  • Pierre Pinson
  • Marco Zugno
Chapter
Part of the International Series in Operations Research & Management Science book series (ISOR, volume 205)

Abstract

As stochastic production units such as those based on wind or solar sources involve both high variability and high uncertainty, system flexibility is needed to accommodate such variability and uncertainty. System flexibility, which is analyzed in this chapter from the viewpoint of the Independent System Operator, involves preventive and corrective actions by conventional power plants, the demand, pumped-storage plants, as well as the availability of sufficient transmission capacity. This chapter analyzes the flexibility provided by these agents and illustrates its effects on system operations and costs through a number of examples.

Keywords

Independent System Operator Optimal Reserve Wind Power Production Schedule Stage Reserve Cost 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media New York 2014

Authors and Affiliations

  • Juan M. Morales
    • 1
    Email author
  • Antonio J. Conejo
    • 2
  • Henrik Madsen
    • 1
  • Pierre Pinson
    • 3
  • Marco Zugno
    • 1
  1. 1.DTU ComputeTechnical University of DenmarkLyngbyDenmark
  2. 2.University of Castilla – La ManchaCiudad RealSpain
  3. 3.DTU ElektroTechnical University of DenmarkLyngbyDenmark

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