Risk-Constrained Offering Strategy for Aggregated Hybrid Power Plant Including Wind Power Producer and Demand Response Provider

• Type: Article in International Scientific Journal
• Date: 2016

Authors

Aghaei, J (Author) Other; Barani, M (Author) Other; Shafie Khah, M (Author) Other; Sanchez de la Nieta, AAS (Author) Other; Catalao, JPS (Author) FEUP

Journal

Title: IEEE Transactions on Sustainable Energy

Vol. 7

Pages: 513-525

ISSN: 1949-3029

Publisher: IEEE

Indexing

ISI Web of Knowledge - 86 Citations

Scopus - 94 Citations

Other information

Authenticus ID: P-00K-DCD

DOI: 10.1109/tste.2015.2500539

Abstract (EN): The unpredictable and volatile nature of wind power is the main obstacle of this generation source in short-term trading. Owing to the ability of demand side to cover wind power imbalances, aggregated loads have been presented in the literature as a good complementary resource for the wind generation. To this end, this paper proposes a technique to obtain the best offering strategy for a hybrid power plant consisting of a wind power producer and a demand response provider in the power market. In addition, conditional value-at-risk is used to limit the risk on profit variability. Finally, a detailed analysis of a realistic case study based on a wind farm in Spain has illustrated that joint operation of wind power producers and demand response providers can increase the expected profit and reduce the potential risks.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 13