Optimal Bidding of a Group of Wind Farms in Day-Ahead Markets Through an External Agent
Autor(a) principal: | |
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Data de Publicação: | 2016 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://repositorio.inesctec.pt/handle/123456789/4853 http://dx.doi.org/10.1109/tpwrs.2015.2477466 |
Resumo: | In deregulated electricity markets, producers offer their energy to the day-ahead market. As the subsidies for renewable producers are becoming lower and lower, they have to adapt to market prices. This paper models the energy trading in the day-ahead market for wind power producers. Different strategies are proposed for this purpose: 1) several wind farms offering their energy separately to the day-ahead market; 2) the same strategy as in 1) but compensating the imbalance among different wind farms; and 3) a joint offer involving several wind farms through an external agent in order to minimize the imbalances between the offer and the final power generation. The strategies are modeled with stochastic mixed integer linear programming and Conditional Value at Risk is used to consider the risk assessment. The expected profit including risk aversion is maximized for each wind power producer and for the set of wind power producers in the case of a joint offer. A comparison of the different cases is described in detail in a case study and relevant conclusions are provided. |
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Optimal Bidding of a Group of Wind Farms in Day-Ahead Markets Through an External AgentIn deregulated electricity markets, producers offer their energy to the day-ahead market. As the subsidies for renewable producers are becoming lower and lower, they have to adapt to market prices. This paper models the energy trading in the day-ahead market for wind power producers. Different strategies are proposed for this purpose: 1) several wind farms offering their energy separately to the day-ahead market; 2) the same strategy as in 1) but compensating the imbalance among different wind farms; and 3) a joint offer involving several wind farms through an external agent in order to minimize the imbalances between the offer and the final power generation. The strategies are modeled with stochastic mixed integer linear programming and Conditional Value at Risk is used to consider the risk assessment. The expected profit including risk aversion is maximized for each wind power producer and for the set of wind power producers in the case of a joint offer. A comparison of the different cases is described in detail in a case study and relevant conclusions are provided.2017-12-22T18:37:37Z2016-01-01T00:00:00Z2016info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://repositorio.inesctec.pt/handle/123456789/4853http://dx.doi.org/10.1109/tpwrs.2015.2477466engGuerrero Mestre,Vde la Nieta,AASContreras,JJoão Catalãoinfo:eu-repo/semantics/embargoedAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-05-15T10:20:23Zoai:repositorio.inesctec.pt:123456789/4853Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:53:02.721921Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Optimal Bidding of a Group of Wind Farms in Day-Ahead Markets Through an External Agent |
title |
Optimal Bidding of a Group of Wind Farms in Day-Ahead Markets Through an External Agent |
spellingShingle |
Optimal Bidding of a Group of Wind Farms in Day-Ahead Markets Through an External Agent Guerrero Mestre,V |
title_short |
Optimal Bidding of a Group of Wind Farms in Day-Ahead Markets Through an External Agent |
title_full |
Optimal Bidding of a Group of Wind Farms in Day-Ahead Markets Through an External Agent |
title_fullStr |
Optimal Bidding of a Group of Wind Farms in Day-Ahead Markets Through an External Agent |
title_full_unstemmed |
Optimal Bidding of a Group of Wind Farms in Day-Ahead Markets Through an External Agent |
title_sort |
Optimal Bidding of a Group of Wind Farms in Day-Ahead Markets Through an External Agent |
author |
Guerrero Mestre,V |
author_facet |
Guerrero Mestre,V de la Nieta,AAS Contreras,J João Catalão |
author_role |
author |
author2 |
de la Nieta,AAS Contreras,J João Catalão |
author2_role |
author author author |
dc.contributor.author.fl_str_mv |
Guerrero Mestre,V de la Nieta,AAS Contreras,J João Catalão |
description |
In deregulated electricity markets, producers offer their energy to the day-ahead market. As the subsidies for renewable producers are becoming lower and lower, they have to adapt to market prices. This paper models the energy trading in the day-ahead market for wind power producers. Different strategies are proposed for this purpose: 1) several wind farms offering their energy separately to the day-ahead market; 2) the same strategy as in 1) but compensating the imbalance among different wind farms; and 3) a joint offer involving several wind farms through an external agent in order to minimize the imbalances between the offer and the final power generation. The strategies are modeled with stochastic mixed integer linear programming and Conditional Value at Risk is used to consider the risk assessment. The expected profit including risk aversion is maximized for each wind power producer and for the set of wind power producers in the case of a joint offer. A comparison of the different cases is described in detail in a case study and relevant conclusions are provided. |
publishDate |
2016 |
dc.date.none.fl_str_mv |
2016-01-01T00:00:00Z 2016 2017-12-22T18:37:37Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://repositorio.inesctec.pt/handle/123456789/4853 http://dx.doi.org/10.1109/tpwrs.2015.2477466 |
url |
http://repositorio.inesctec.pt/handle/123456789/4853 http://dx.doi.org/10.1109/tpwrs.2015.2477466 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/embargoedAccess |
eu_rights_str_mv |
embargoedAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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