Emission-aware energy trading by coordinating thermal &amp;amp; wind power generation

Akhtar, G. M. Asim; Al‐Awami, Ali T.

doi:10.1109/powereng.2013.6635751

Cited by 2 publications

(4 citation statements)

References 6 publications

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“…For risk analysis constraints (7) - (9) are needed, more comprehensive explanation about CVaR can be found in [1,9,24,25].…”

Section: Risk Analysis Constraintsmentioning

confidence: 99%

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Bidding of Energy Sources and Energy Storage System in Day-ahead Markets

Al-Swaiti¹,

Al‐Awami²

2017

Preprint

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Abstract:In this work, the Pumped Storage Unit (PSU) is proposed to be integrated with wind-thermal generation system owned by a company whose aim is to maximize its profit through optimal self-scheduling of its units by finding the best bidding strategy in day-ahead energy market. The mathematical formulation of the scenario based unitcommitment and coordinated trading problem is formulated as a stochastic mixed integer linear program. The formulation takes into account several uncertain parameters; such as the wind power generation, energy market prices, and imbalances up/down prices. The expected total profit obtained from energy trading with and without coordinating pumped storage system (PSS) with thermal-wind generation system were compared, and a significant improvement in profit resulted from coordination was observed. Furthermore, coordination between PSS and wind-thermal generation improve the conditional value at risk (CVaR) which monitors the biding risk level.

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“…For risk analysis constraints (7) - (9) are needed, more comprehensive explanation about CVaR can be found in [1,9,24,25].…”

Section: Risk Analysis Constraintsmentioning

confidence: 99%

“…Also, fossil-fueled power plants produce gases that adversely affect the environment. Therefore, interest has increased drastically in renewable energy resources as a means to meet energy challenges in a sustainable ways [1,2].…”

Section: Introductionmentioning

confidence: 99%

Bidding of Energy Sources and Energy Storage System in Day-ahead Markets

Al-Swaiti¹,

Al‐Awami²

2017

Preprint

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“…Thus, by coordinating wind power with hydro or gas turbine units, the producers become only active in the real‐time markets. Moreover, as gas turbine units are installed in a short period of time and their capacities are significant in some electrical grids, eg, Iran grid, coordinating wind power with gas turbine units is a more suitable option, compared with coordinating wind power with hydro units, for solving the issue of wind power incorporation in the real‐time market …”

Section: Introductionmentioning

confidence: 99%

“…Moreover, as gas turbine units are installed in a short period of time and their capacities are significant in some electrical grids, eg, Iran grid, coordinating wind power with gas turbine units is a more suitable option, compared with coordinating wind power with hydro units, for solving the issue of wind power incorporation in the real-time market. 10 The main assumption of previous works on coordination of wind power with gas turbine units is that they are considered price taker. It means that the real-time prices are predicted by the producer.…”

Section: Introductionmentioning

confidence: 99%

Optimal bidding strategy of coordinated wind power and gas turbine units in real-time market using conditional value at risk

Rayati

Goodarzi

Ranjbar

2018

Int Trans Electr Energ Syst

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Summary Nowadays, the incorporation of wind power in electrical grids and electricity markets is grown. Due to the fluctuation of wind speed, one of the main challenges of wind power would be selling power directly to the wholesale markets. A method for solving this challenge is coordination of wind power with energy storages, cascaded hydro, or gas turbine units in bidding strategy and operation. By coordinating with gas turbine units, wind power can be incorporated in real‐time markets with fewer capital costs. In this paper, a stochastic bi‐level optimization is proposed for coordinated wind power and gas turbine units in the real‐time market. The uncertainties of wind power, demands, rivals' biddings, and limitations of natural gas are considered. The optimal bidding strategy is determined by adding a barrier term into the objective function of the proposed optimization model. The added term is based on the concept of conditional value at risk.

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Emission-aware energy trading by coordinating thermal & wind power generation

Cited by 2 publications

References 6 publications

Bidding of Energy Sources and Energy Storage System in Day-ahead Markets

Bidding of Energy Sources and Energy Storage System in Day-ahead Markets

Optimal bidding strategy of coordinated wind power and gas turbine units in real-time market using conditional value at risk

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