Optimal supply and demand bidding strategy for an aggregator of small prosumers (vol 213, pg 658, 2018)

• Type: Article in International Scientific Journal
• Date: 2018

Authors

José Iria (Author) Other; Filipe Soares (Author) Other; Manuel Matos (Author) FEUP

Journal

Title: Applied Energy

Vol. 213

Pages: 658-669

ISSN: 0306-2619

Publisher: Elsevier

Indexing

ISI Web of Knowledge - 0 Citations

Scopus - 0 Citations

INSPEC

Other information

Authenticus ID: P-00N-X0Z

DOI: 10.1016/j.apenergy.2017.09.002

Abstract (EN): This paper addresses the problem faced by an aggregator of small prosumers, when participating in the energy market. The aggregator exploits the flexibility of prosumers' appliances, in order to reduce its market net costs. Two optimization procedures are proposed. A two-stage stochastic optimization model to support the aggregator in the definition of demand and supply bids. The aim is to minimize the net cost of the aggregator buying and selling energy at day-ahead and real-time market stages. Scenario-based stochastic programing is used to deal with the uncertainty of electricity demand, end-users' behavior, outdoor temperature and renewable generation. The second optimization is a model predictive control method to set the operation of flexible loads in real-time. A case study of 1000 small prosumers from the Iberian market is used to compare four day-ahead bidding strategies and two real-time control strategies, as well as the performance of combined day-ahead and real-time strategies. The numerical results show that the proposed strategies allow the aggregator to reduce the net cost by 14% compared to a benchmark typically used by retailers (inflexible strategy).

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 12