Skip to main content

Please enter a keyword and click the arrow to search the site

Optimal dispatch in a balancing market with intermittent renewable generation


IEEE Transactions on Power Systems


Management Science and Operations

Authors / Editors

Shinde P;Hesamzadeh M R;Date P;Bunn D W


Publication Year



In this paper, three single-stage stochastic programs are proposed and compared for optimal dispatch by a System Operator (SO) into balancing markets (BM). The motivation for the models is to represent a possible requirement to undertake system balancing with increasing amounts of intermittent renewable generation. The proposed optimization models are reformulated as tractable Mixed Integer Linear Programs (MILPs) and these consider both fuel cost and intermittency cost of the generators, when the SO activates the up- or down-regulation bids. These three models are based on the main approaches seen in practice: dual-imbalance pricing, single imbalance pricing and single imbalance pricing with spot reversion. A scenariogeneration algorithm based on predictive conditional dynamic density distributions is also proposed. We perform a comparative analysis of these three proposed models in terms of how they help the SO to optimize their balancing market actions considering intermittent-renewable generators. The single imbalance pricing is found to be the most market efficient.


Balancing market; Imbalance settlement cost; Stochastic program; GAMLSS

Available on ECCH


Select up to 4 programmes to compare

Select one more to compare
subscribe_image_desktop 5949B9BFE33243D782D1C7A17E3345D0

Sign up to receive our latest news and business thinking direct to your inbox


Sign up to receive our latest course information and business thinking

Leave your details above if you would like to receive emails containing the latest thought leadership, invitations to events and news about courses that could enhance your career. If you would prefer not to receive our emails, you can still access the case study by clicking the button below. You can opt-out of receiving our emails at any time by visiting: or by unsubscribing through the link provided in our emails. View our Privacy Policy for more information on your rights.