%I IEEE
%O This work was partially supported by the HYCON2: Highly-complex and networked control systems, Network of Excellence, FP7-IST contract no. 257462 and by the European project E-PRICE: Price-based Control of
Electrical Power Systems, FP7-IST contract no. 249096.
%P 7111 -7116
%T Stochastic MPC for real-time market-based optimal power dispatch
%R 10.1109/CDC.2011.6160798
%B Proceedings of the 50th IEEE Conference on Decision and Control and European Control Conference (CDC-ECC)
%L eprints1255
%D 2011
%X We formulate the problem of dynamic, real-time optimal power dispatch for electric power systems consisting of conventional power generators, intermittent generators from renewable sources, energy storage systems and price-inelastic loads. The generation company managing the power system can place bids on the real-time energy market (the so-called regulating market) in order to balance its loads and/or to make profit. Prices, demands and intermittent power injections are considered to be stochastic processes and the goal is to compute power injections for the conventional power generators, charge and discharge levels for the storage units and exchanged power with the rest of the grid that minimize operating and trading costs. We propose a scenario-based stochastic model predictive control algorithm to solve the real-time market-based optimal power dispatch problem.
%A Panagiotis Patrinos
%A Sergio Trimboli
%A Alberto Bemporad
%K Electricity, Energy storage, Generators, Power systems, Production, Real time systems, Stochastic processes