Risk-Based Self-Scheduling of Gencos in Smart Grids considering a New Method for Bilateral Contracts

• Type: Article in International Conference Proceedings Book
• Date: 2017

Authors

Shafie khah, M (Author) Other; Osorio, GJ (Author) Other; Fitiwi, DZ (Author) Other; Catalao, JPS (Author) FEUP; Siano, P (Author) Other

Conference proceedings International

Title: 2017 1ST IEEE INTERNATIONAL CONFERENCE ON ENVIRONMENT AND ELECTRICAL ENGINEERING AND 2017 17TH IEEE INDUSTRIAL AND COMMERCIAL POWER SYSTEMS EUROPE (EEEIC / I&CPS EUROPE)

17th IEEE International Conference on Environment and Electrical Engineering (IEEE EEEIC) / 1st IEEE Industrial and Commercial Power Systems Europe (IEEE I&CPS Europe)

Milan, ITALY, JUN 06-09, 2017

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Other information

Authenticus ID: P-00N-7R2

DOI: 10.1109/eeeic.2017.7977689

Abstract (EN): In this work, the self-scheduling problem of a power producer in smart grids is addressed using a stochastic programming approach. Different uncertainties are considered as price uncertainties, forced-outage of the unit as well as generation reallocation. The conditional value-at-risk index is used for modeling of risk. The markets considered in this study are bilateral contracts, day-ahead and ancillary services, including spinning reserve and regulation, and spot market decisions, while an incomplete competitive market is considered. In this sense, an innovative method for bilateral contracts is proposed to increase the profit of the market without ignoring any regulatory rules. The Monte Carlo method is implemented together with a reduction scenario process to generate scenarios.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 5