Abstract
Due to the volatility and intermittence of wind generation, it is challenging to develop an economic dispatch algorithm for smart grids that not only meets the dynamic demand of electric energy, but also maximizes the benefits of energy suppliers using such renewable resource. In this paper, we account for smart grids with two categories of energy users, namely traditional energy users and opportunistic energy users, and address pricing and dispatch at one period of time (e.g., in hours). We model this problem as a stochastic programming problem that can be solved to determine the optimal day-ahead retail price, real-time price and the procurement of electricity energy.
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