Optimal Self-Scheduling of a Wind Power Producer in Energy and Ancillary Services Markets using a Multi-Stage Stochastic Programming

• Type: Article in International Conference Proceedings Book
• Date: 2014

Authors

Shafie khah, M (Author) Other; de la Nieta, AAS (Author) Other; Catalao, JPS (Author) Other; Heydarian Forushani, E (Author) Other

Conference proceedings International

Title: 2014 SMART GRID CONFERENCE (SGC)

Smart Grid Conference

Niroo Res Inst, Tehran, IRAN, DEC 09-10, 2014

Indexing

ISI Web of Knowledge - 0 Citations

Other information

Authenticus ID: P-00N-7QR

Abstract (EN): Wind power is expected to deliver a significant part of power generation in future smart grid. However, many economic challenges have arisen from the intermittent nature of wind power. In this paper, a multi-stage stochastic model is proposed for self-scheduling problem of Wind Power Producers (WPPs) in competitive electricity markets. The proposed model includes three trading levels namely; forward, day-ahead, and balancing sessions. The problem uncertainties, such as wind power, market prices and quantity of activated reserve by ISO are considered by the Monte Carlo method. Moreover, Conditional Value-at-Risk (CVaR) is employed in the model as an appropriate risk measuring technique. The proposed model yields the optimal behavior of WPPs to participate in day-ahead energy and ancillary services markets (i.e. spinning reserve and regulation). Simulation results indicate that simultaneous participation of the WPPs in the mentioned markets not only augments their profit but also can significantly decrease the associated risks.

Language: English

Type (Professor's evaluation): Scientific

No. of pages: 5