Risk-Aware Security-Constrained Unit Commitment: Taming the Curse of Real-Time Volatility and Consumer Exposure
We propose an enhancement to wholesale electricity markets whereby the exposure of consumers to increasingly large and volatile consumer payments arising as a byproduct of volatile real-time net loads — i.e., loads minus renewable outputs — and prices, both compared to day-ahead cleared values. We incorporate a robust estimate of such excess payments into the … Read more