Developing a FlexiRamp Procurement Model

What is it about?

This paper presents a cooperative bidding model for energy, reserve, and flexiramp providing by a group of suppliers. Procurement problems in electricity markets have been analysed through Stackelberg concept and modelled via bi-level programming. However, previous bi-level models have captured the game only in the context of the day-ahead or real-time market. In this paper, a stochastic two-stage multi-objective bi-level model for procurement problem in the day-ahead and balancing markets is proposed; in which the Stackelberg game is simultaneously considered in these markets.

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