This paper presents a new model for optimal trading of wind power in day-ahead (DA) electricity markets under uncertainty in wind power and prices. The model considers settlement mechanisms in markets with locational marginal prices (LMPs), where wind power is not necessarily penalized from deviations between DA schedule and real-time (RT) dispatch. We use kernel density estimation to produce a probabilistic wind power forecast, whereas uncertainties in DA and RT prices are assumed to be Gaussian. Utility theory and conditional value at risk (CVAR) are used to represent the risk preferences of the wind power producers. The model is tested on real-world data from a large-scale wind farm in the United States. Optimal DA bids are derived under different assumptions for risk preferences and deviation penalty schemes. The results show that in the absence of a deviation penalty, the optimal bidding strategy is largely driven by price expectations. A deviation penalty brings the bid closer to the expected wind power forecast. Furthermore, the results illustrate that the proposed model can effectively control the trade-off between risk and return for wind power producers operating in volatile electricity markets.
This paper presents the proof of concept for a new solution to the problem of recomposing missing information at the SCADA of energy/distribution management systems (EMS/DMS), through the use of offline trained autoencoders. These are neural networks with a special architecture, which allows them to store knowledge about a system in a nonlinear manifold characterized by their weights. Suitable algorithms may then recompose missing inputs (measurements). The paper shows that, trained with adequate information, autoencoders perform well in recomposing missing voltage and power values, and focuses on the particularly important application of inferring the topology of the network when information about switch status is absent. Examples with the IEEE RTS 24-bus network are presented to illustrate the concept and technique.
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