Wind power day-ahead uncertainty management through stochastic unit commitment policies

Abstract

Day-ahead uncertainty management in power systems has traditionally been approached by means of multistage decision making and operating reserve requirements. An alternate approach for managing uncertainty is a stochastic formulation,which allows the explicit modeling of the sources of uncertainty. The large investments in wind power has increased the importance of operations uncertainty management due to the considerable operational uncertainty wind plants have. This paper evaluates the benefits of a combined approach that uses stochastic and reserve methods for the efficient management of uncertainty in the unit commitment problem for systems with significant amount of wind power. Numerical studies on a model of the PSCo system show that the unit commitment solutions obtained for the combined approach are robust and superior with respect to the traditional approach in terms of economic metrics and curtailed wind power.

A Stochastic Electricity Market Clearing Formulation with Consistent Pricing Properties

“…3 surplus (cost in case of inelastic demands) in intra-day operations. Examples include the works of Takriti et al (1996), Wang et al (2008), Constantinescu et al (2011), Jin et al (2014), Ruiz et al (2009), Bouffard et al (2005), Papavasiliou and Oren (2013). These studies have demonstrated significant improvements in reliability over deterministic formulations.…”

Self-scheduling of Wind-Thermal Systems Using a Stochastic MILP Approach

“…The technical literature presents methods for WP bidding strategies solving using different approaches: the first one is the use of WP with technologies of storage of energy [18]; the use of economic options as a tool for WPP to hedge against WP Uncer [19]; another approach is the design of Stoc models in order to obtain OBS for WPP participating in an EMar [20], without the aforementioned policies. The 3rd line of action is a Stoc formulation explicitly modelling the Uncer faced by a WPP [21], using indeterminate measures and an established of scenarios built by WP forecast and market-clearing EPr forecast [22] requests.…”

Optimal Bidding Strategies of Wind-Thermal Power Producers

“…The stochastic model is a formulation explicitly taking into account the uncertainties tackled by the ScP of a WiPP [19], using multiple scenarios obtained by computer applications for wind power and market price forecasts [20].…”

“…In (18), the minimum DX will be satisfied for all the sets of sequential periods of size r DX . In (19), the minimum DX will be satisfied for the last The total power produced by the ThU is stated as:…”