@inproceedings{d4f24385d9a34c92916246e7de5666de,
title = "Applying stochastic programming to the unit commitment problem",
abstract = "Multi-stage decision making, a fundamental tenet of stochastic programming, resonates well with the practice of the electricity markets. The day-ahead market, used to commit the generators, bears uncertainty in the power demand and physical conditions of the generators and transmission lines. The situation becomes less uncertain in the real-time market, where the dispatch is decided. Although traditional approaches such as operating reserve requirements have been effectively employed to ensure reliable system operations, the incorporation of stochastic methods offer the potential for superior solutions.",
keywords = "Economic dispatch, Monte-carlo simulation, Operating reserve, Optimization, Reliability, Stochastic programming, Unit commitment",
author = "Ruiz, {Pablo A.} and Philbrick, {C. Russ} and Eugene Zak and Cheung, {Kwok W.} and Sauer, {Peter W.}",
year = "2008",
language = "English (US)",
isbn = "9781934325216",
series = "Proceedings of the 10th International Conference on Probabilistic Methods Applied to Power Systems, PMAPS 2008",
pages = "151--156",
booktitle = "Proceedings of the 10th International Conference on Probabilistic Methods Applied to Power Systems, PMAPS 2008",
note = "10th International Conference on Probabilistic Methods Applied to Power Systems, PMAPS 2008 ; Conference date: 25-05-2008 Through 29-05-2008",
}