Using a Bi-level optimization model for assessing the impact of demand forecast uncertainty on the maximum profit of power distribution companies owning energy storage systems

This paper proposes a bi-level optimization model to maximize the net revenue of a power distribution company owning energy storage systems. Furthermore, the proposed model also takes into account the uncertainty of load forecast based on a set of multiple scenarios in order to assess its impact on the maximum net revenue of the power distribution company.
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Using a Bi-level optimization model for assessing the impact of demand forecast uncertainty on the maximum profit of power distribution companies owning energy storage systems