TY - GEN
T1 - A performance comparison of probabilistic techniques for electricity market simulation
AU - Fonseka, P. A.J.
AU - Dong, Z. Y.
AU - Saha, T. K.
N1 - Publication details (e.g. title, author(s), publication statuses and dates) are captured on an “AS IS” and “AS AVAILABLE” basis at the time of record harvesting from the data source. Suggestions for further amendments or supplementary information can be sent to [email protected].
PY - 2009
Y1 - 2009
N2 - This paper compares the performances of two probabilistic techniques, namely (i) two-point estimate (2PE) method and (ii) Monte Carlo (MC) method, when modelling the uncertainties in market simulation. The demand, bid price, and capacity offer quantities are modelled as uncertain variables. A generalized zonal market model has been analysed with relaxed generation and network representation. A simplified version of National Electricity Market (NEM) of Australia has been studied and results are discussed. ©2009 IEEE.
AB - This paper compares the performances of two probabilistic techniques, namely (i) two-point estimate (2PE) method and (ii) Monte Carlo (MC) method, when modelling the uncertainties in market simulation. The demand, bid price, and capacity offer quantities are modelled as uncertain variables. A generalized zonal market model has been analysed with relaxed generation and network representation. A simplified version of National Electricity Market (NEM) of Australia has been studied and results are discussed. ©2009 IEEE.
KW - Electricity markets
KW - Monte carlo methods
KW - Probabilistic simulation
KW - Two-point estimate method
UR - https://www.scopus.com/pages/publications/77649281439
UR - https://www.scopus.com/record/pubmetrics.uri?eid=2-s2.0-77649281439&origin=recordpage
U2 - 10.1109/PES.2009.5275873
DO - 10.1109/PES.2009.5275873
M3 - RGC 32 - Refereed conference paper (with host publication)
SN - 9781424442416
T3 - 2009 IEEE Power and Energy Society General Meeting, PES '09
BT - 2009 IEEE Power and Energy Society General Meeting, PES '09
T2 - 2009 IEEE Power and Energy Society General Meeting, PES '09
Y2 - 26 July 2009 through 30 July 2009
ER -