Integrating Renewables in Electricity Markets

Juan M. Morales received his M.Sc. degree in Industrial Engineering from the University of Málaga and his Ph.D. in Electrical Engineering from the University of Castilla – La Mancha, Spain. Since 2013 he is an associate professor in Stochastic Optimization in Energy Systems in the Department of Applied Mathematics and Computer Science at the Technical University of Denmark. His research interests include mathematical programming and techniques of optimization under uncertainty, decision making, hierarchical optimization, renewable energies and energy economics.Antonio J. Conejo received the M.S. degree from Massachusetts Institute of Technology, Cambridge, MA, in 1987 and the Ph.D. degree from the Royal Institute of Technology, Stockholm, Sweden, in 1990. He is currently Professor of Electrical Engineering at the Universidad de Castilla – La Mancha, Ciudad Real, Spain. Henrik Madsen received his M.Sc. (1982) and PhD (1986) in Statistics from the Technical University of Denmark (DTU). His research interests include forecasting of wind and solar power, time series analysis, and estimation of parameters in stochastic differential equations for physical modeling. Since 1999 he has been a full professor in Stochastic Dynamical Systems.Pierre Pinson received his M.Sc. in Applied Mathematics from the National Institute of Applied Sciences, Toulouse, and his Ph.D. in Energetics from the Ecole des Mines de Paris. He is the Professor in Modelling of Electricity Markets at the Technical University of Denmark, Dpt. of Electrical Engineering. His research interests include statistical modelling; forecasting; stochastic optimization; decision making under uncertainty; renewable energies; meteorology; energy management; and energy trading.Marco Zugno received the M.Sc. degree in Electrical Engineering from the Technical University of Denmark (DTU) and the M.Sc. degree in Automation Engineering from the University of Padua, Italy. He holdsa Ph.D. degree obtained from the department of Applied Mathematics and Computer Science at DTU. He is currently a postdoctoral researcher with the same department. His research interests include electricity market modeling; stochastic programming; robust optimization; and hierarchical optimization.

• Introduction.- Renewable Energy Sources - Modeling and Forecasting.- Clearing the Day-Ahead Market with a High Penetration of Stochastic Production.- Balancing Markets.- Managing Uncertainty with Flexibility.- Impact of Stochastic Renewable Energy Generation on Market Quantities.- Trading Stochastic Production in Electricity Pools.- Virtual Power Plants.- Facilitating Renewable Integration by Demand Response.- Random Variables and Stochastic Processes.- Basics of Optimization.- Introduction to Stochastic Programming.- Introduction to Robust Optimization.- GAMS Codes.