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We propose a simple model that integrates twoperiod electricity markets, uncertainty in renewable generation, and real-time dynamic demand response. A load-serving entity decides its day-ahead procurement to optimize expected social welfare a day before energy delivery. At delivery time when renewable generation is realized, it sets prices to manage demand and purchase additional power on the real-time market, if necessary, to balance supply and demand. We derive the optimal day-ahead decision,doi:10.1109/cdc.2011.6161320 dblp:conf/cdc/JiangL11 fatcat:oscivtosmzdu3jubsvss5ayypq