Abstract

This paper addresses the problem of quantifying the amount of spinning and non-spinning load-following reserves required for the normal operation of a power system under high wind penetration. A two-stage stochastic optimization problem is formulated; in the first stage the market operator clears the day-ahead market, while in the second stage the real-time operation of the power system is modeled, considering uncertainty in wind production by means of wind power generation scenarios. The required levels of load-following reserves are first-stage decisions. The proposed model is tested on the Greek power system and its economic and computational aspects are thoroughly discussed.

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