Day-ahead optimal bidding of microgrids considering uncertainties of price and renewable energy resources

Nikpour, Ahmad; Nateghi, Abolfazl; Shafie‐khah, Miadreza; Catalão, João P.S.

doi:10.1016/j.energy.2021.120476

Cited by 37 publications

(8 citation statements)

References 32 publications

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“…Citation information: DOI 10.1109/OAJPE.2022.3206495 irradiance and wind speed) and CVaR. Authors of [19] considered different variables and uncertainties, though DRPs and reactive power are not considered. Some of the reviewed papers added reactive power to MGs bidding strategy; for instance, in [20] arbitrage strategy of virtual power plants in coupled energy, reactive, and spinning reserve markets is modeled by considering power systems reliability and MGs profit.…”

Section: B Literature Reviewmentioning

confidence: 99%

“…In current work, Beta and Weibull PDFs are suggested to cover uncertainties of solar radiation and wind speed. This PDFs are presented in [25], [19], [38], [39]. The output power of PV is described in [19], [25], [ 29] and the output power of WT is represented in [19], [ 25], [38], [39].…”

Section: Expected Payment Function (Epf)mentioning

confidence: 99%

“…This PDFs are presented in [25], [19], [38], [39]. The output power of PV is described in [19], [25], [ 29] and the output power of WT is represented in [19], [ 25], [38], [39].…”

Section: Expected Payment Function (Epf)mentioning

confidence: 99%

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Stochastic-Risk Based Approach for Microgrid Participation in Joint Active, Reactive, and Ancillary Services Markets Considering Demand Response

Nikpour

Nateghi

Shafie‐khah

2023

IEEE Open J. Power Energy

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In the restructured power systems, renewable energy sources (RES) have been developed. Uncertainties of these generators reduce the reliability and stability of power systems. The frequency and voltage for the correct operation of the power systems must always be maintained within a nominal value. Ancillary services (AS), energy storage systems (ESS), and demand response programs (DRPs) can be effective solutions for mentioned problems. Microgrids (MG) can make an improvement in their profits and efficiency by participating in various markets. This paper provides an optimal scheduling for the simultaneous participation of MGs in coupled active, reactive power and AS markets (regulation, spinning reserve and non-spinning reserve) by considering ESS, DRPs, call for deploying AS, and the uncertainties of wind and solar productions. Capability diagrams; mathematical equations are used to model active and reactive power of generation units. Risk management in this paper is done by the conditional value at risk (CVaR) method and probability distribution functions (PDF) are used for modeling uncertainties of wind speed and solar radiation. The ERCOT (Electric Reliability Council of Texas) market is simulated with real world data.

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Section: B Literature Reviewmentioning

confidence: 99%

Section: Expected Payment Function (Epf)mentioning

confidence: 99%

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Stochastic-Risk Based Approach for Microgrid Participation in Joint Active, Reactive, and Ancillary Services Markets Considering Demand Response

Nikpour

Nateghi

Shafie‐khah

2023

IEEE Open J. Power Energy

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“…The strategic units' participation in DWM was addressed in [25] considering high wind power penetration with stochastic scenarios. The bidding curve of microgrids in ancillary service market is addressed in [26] utilizing real-world data. A bidding strategy approach has been proposed by [27] for a price-maker MESO that has the objective of maximizing profit in the presence of other MESs.…”

Section: Literature Reviewmentioning

confidence: 99%

A hybrid robust-stochastic approach for strategic scheduling of a multi-energy system as a price-maker player in day-ahead wholesale market

Nasiri

Zeynali

Ravadanegh

et al. 2021

Energy

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“…The model employs a modified energy bidding strategy to achieve a profitable energy storage participation in the market by means of utilizing determined energy and flexible ramp up and down values. The optimal stochastic bidding strategy for an MG in joint energy and ancillary service (comprising regulation up and down, spinning and non‐spinning reserve) markets is modelled in [17]. Besides, the conditional value at risk is employed to control the risk of the bidding strategy.…”

Section: Introductionmentioning

confidence: 99%

Strategic bidding of a multi‐carrier microgrid in energy market

Haddadipour

Amir

Javadi

2021

IET Renewable Power Gen

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Microgrid can contribute to the day-ahead market by submitting bids to minimize its costs. The bidding problem is challenging due to various uncertainties. Thus, the present study provides a comprehensive optimal bidding strategy to determine the optimal power bids of a multi-carrier microgrid despite the interdependency of power and gas market prices on the day-ahead and real-time markets. In this work, the stochastic energy bidding in the proposed multi-carrier microgrid is solved via a two-stage procedure to benefit from dayahead and real-time markets. In the first stage, the operator provides hourly energy bids to the distribution system operator regardless of uncertainty. Then, in the second stage, taking into account the confirmed day-ahead bids, the multi-carrier microgrid operator serves to balance the load in the real-time market stemmed from various uncertain parameters. This problem is solved as mixed-integer linear programming by CPLEX of the GAMS solver. A scenario reduction method is also employed to burden the complexity of the problem. Numerical results show the usefulness of the proposed model.

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Day-ahead optimal bidding of microgrids considering uncertainties of price and renewable energy resources

Cited by 37 publications

References 32 publications

Stochastic-Risk Based Approach for Microgrid Participation in Joint Active, Reactive, and Ancillary Services Markets Considering Demand Response

Stochastic-Risk Based Approach for Microgrid Participation in Joint Active, Reactive, and Ancillary Services Markets Considering Demand Response

A hybrid robust-stochastic approach for strategic scheduling of a multi-energy system as a price-maker player in day-ahead wholesale market

Strategic bidding of a multi‐carrier microgrid in energy market

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