Market-clearing with stochastic security - part II: case studies

Summary form only given. This paper analyzes the market-clearing formulation with stochastic security developed in its companion paper through two case studies solved using mixed-integer linear programming techniques. The generation and reserve schedules as well as the nodal prices of energy and security are assessed under various conditions such as a) line flow limits; b) when nonspinning reserve is excluded from the formulation; c) demand side valuation of energy not served; d) generator ramping limits; and, e) the set of pre-selected contingencies