Risk-Constrained Offering Strategy of Wind Power Producers Considering Intraday Demand Response Exchange

• Type: Article in International Scientific Journal
• Date: 2014

Authors

Heydarian Forushani, E (Author) Other; Moghaddam, MP (Author) Other; Sheikh El Eslami, MK (Author) Other; Shafie khah, M (Author) Other; Catalao, JPS (Author) Other

Journal

Title: IEEE Transactions on Sustainable Energy

Vol. 5

Pages: 1036-1047

ISSN: 1949-3029

Publisher: IEEE

Indexing

ISI Web of Knowledge - 82 Citations

Scopus - 0 Citations

Other information

Authenticus ID: P-009-VEH

DOI: 10.1109/tste.2014.2324035

Abstract (EN): This paper proposes a comprehensive stochastic decision making model for wind power producers' (WPPs) participation in a competitive market. The presented model incorporates three trading floors: 1) day-ahead; 2) intraday; and 3) balancing markets. An efficient integration of intraday markets allows market players to react to the latest information (e. g., more accurate wind forecast). Creating a platform that allows demand response resources (DRRs) to contribute to the intraday markets improves both WPP's business and power system flexibility. In this context, providing an intraday demand response exchange (IDRX) market for trading demand response (DR) between DR providers and DR users (e. g., WPPs) is proposed. The problem uncertainties, such as wind power and market prices, are considered using a scenario-based approach. Moreover, an appropriate risk measurement, conditional value-at-risk (CVaR), is incorporated with the model. Numerical results illustrate that utilizing DR to compensate wind generation imbalances can increase WPP's profit and reduce the related risks.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 12