Assessing the adaption of stochastic clearing procedure to a hydro-penetrated market

Vast increase of renewable energy resources' (RER) share in total electricity production have led to evolving studies regarding different aspects of renewables integration. Other than their effects on network, the electricity markets are also affected by uncertain behavior of RERs in the market place. Hence, new approaches for market clearing are investigated. One of the possible solutions is the deployment of stochastic market clearing. However, the adaption of new market models should consider different market characteristics. As a result, this paper assesses the adaption of stochastic market in a hydro-penetrated system. The co-optimized energy and reserve schedule in the day-ahead time frame is derived using the mixed integer linear programming (MILP). The model is tested with Portuguese electricity market data as a real-case of hydro-penetrated system.