Optimal dispatch of interruptible and curtailable service options
Operations Research
Design and management of curtailable electricity service to reduce annual peaks
Operations Research
Integrating real and financial options in demand-side electricity contracts
Decision Support Systems
Exotic Options for Interruptible Electricity Supply Contracts
Operations Research
A two-stage non-linear program for optimal electrical grid power balance under uncertainty
Proceedings of the Winter Simulation Conference
Two-stage stochastic optimization for optimal power flow under renewable generation uncertainty
ACM Transactions on Modeling and Computer Simulation (TOMACS) - Special issue on simulation in complex service systems
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In deregulated power systems, a load serving entity purchases electric energy from the wholesale market and sells it to its customers at regulated fixed prices. The load serving entity faces several uncertainties in its trading. This paper addresses the hedging problem of a load serving entity with the aid of interruptible load programs. A method, based on stochastic programming, is proposed to determine the optimal procurement of interruptible loads for a specified period of time. The objective is to minimize the market risks presented by a multi-period risk measure. Meanwhile, the conditional value at risk approach is used to measure the risks. In addition, different types of interruptible contracts are considered and their effects on the optimal procurement policy are analyzed. A case study is illustrated to demonstrate the proposed method.