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SUMMARY:Harmonizing energy planning and market mechanisms to ensure supply
  adequacy in electricity markets - Luiz Augusto  Barroso (PSR Energy Resea
 rch and Analytics)
DTSTART:20190319T163000Z
DTEND:20190319T171500Z
UID:TALK121279@talks.cam.ac.uk
CONTACT:INI IT
DESCRIPTION:The objective of this talk is twofold: we<br>  first describe 
 multi-stage stochastic optimization models with a very<br>  detailed repre
 sentation of the system components that have been used to carry<br>  out r
 ealistic generation-transmission planning studies in large systems with<br
 >  strong renewable penetration. The optimization framework of these model
 s<br>  allows not only to extract meaningful outputs - such as probabilist
 ic-reserve<br>  needs\, cost of flexibility - as well as they can be used 
 to factor planning<br>  outcomes in auctions for long-term reliability pro
 ducts to ensure supply<br>  adequacy. We will show that attributes of gene
 ration plants can be factored<br>  in the procurement process of these pro
 ducts via primal (price-based) or dual<br>  (quantity-based) outcomes of t
 he optimization-based framework for the<br>  planning studies.
LOCATION:Seminar Room 1\, Newton Institute
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