Class 5

In this class, we have discussed the solutions to an example of a multi-period network-constrained economic dispatch problem and an example of a unit commitment problem, and we have connected these two problems with the functioning of current electricity markets. We have also gone through the main characteristics of various power generation technologies (nuclear, coal, gas-fired, renewables ...) and studied the primary market participants and trading floors.

Finally, the various working groups have been faced with an illustrative optimization problem that is affected by uncertain data in the constraint matrix. The groups have suggested different strategies to tackle this problem and the discussion has served to introduce basic concepts of optimization under uncertainty such as robust and nominal solution and risk aversion, etc.