Wind power with energy storage arbitrage in day-ahead market by a stochastic MILP approach

Detalhes bibliográficos
Autor(a) principal: Gomes, Isaias
Data de Publicação: 2019
Outros Autores: Melício, Rui, Mendes, Victor, Pousinho, Hugo
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10174/26335
https://doi.org/10.1093/jigpal/jzz054
Resumo: This paper is about a support information management system for a wind power (WP) producer having an energy storage system (ESS) and participating in a day-ahead electricity market. Energy storage can play not only a leading role in mitigation of the effect of uncertainty faced by a WP producer, but also allow for conversion of wind energy into electric energy to be stored and then released at favourable hours. This storage provides capability for arbitrage, allowing an increase on profit of a WP producer, but must be supported by a convenient problem formulation. The formulation proposed for the support information management system is based on an approach of stochasticity written as a mixed integer linear programming problem. WP and market prices are considered as stochastic processes represented by a set of scenarios. The charging/discharging of the ESS are considered dependent on scenarios of market prices and on scenarios of WP. The effectiveness of the proposed formulation is tested by comparison of case studies using data from the Iberian Electricity Market. The comparison is in favour of the proposed consideration of stochasticity.
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spelling Wind power with energy storage arbitrage in day-ahead market by a stochastic MILP approachElectricity marketsenergy storagemixed integer linear programmingstochastic optimizationwind powerThis paper is about a support information management system for a wind power (WP) producer having an energy storage system (ESS) and participating in a day-ahead electricity market. Energy storage can play not only a leading role in mitigation of the effect of uncertainty faced by a WP producer, but also allow for conversion of wind energy into electric energy to be stored and then released at favourable hours. This storage provides capability for arbitrage, allowing an increase on profit of a WP producer, but must be supported by a convenient problem formulation. The formulation proposed for the support information management system is based on an approach of stochasticity written as a mixed integer linear programming problem. WP and market prices are considered as stochastic processes represented by a set of scenarios. The charging/discharging of the ESS are considered dependent on scenarios of market prices and on scenarios of WP. The effectiveness of the proposed formulation is tested by comparison of case studies using data from the Iberian Electricity Market. The comparison is in favour of the proposed consideration of stochasticity.Logic Journal of the IGPL (Oxford Univ Press)2020-01-09T10:14:58Z2020-01-092019-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://hdl.handle.net/10174/26335http://hdl.handle.net/10174/26335https://doi.org/10.1093/jigpal/jzz054enghttps://academic.oup.com/jigpal/advance-article/doi/10.1093/jigpal/jzz054/5670473?searchresult=1ilrgomes21@gmail.comruimelicio@gmail.comvfmendes@deea.isel.pthpousinho@gmail.com483Gomes, IsaiasMelício, RuiMendes, VictorPousinho, Hugoinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-01-03T19:21:01Zoai:dspace.uevora.pt:10174/26335Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T01:16:40.245186Repositório 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 Wind power with energy storage arbitrage in day-ahead market by a stochastic MILP approach
title Wind power with energy storage arbitrage in day-ahead market by a stochastic MILP approach
spellingShingle Wind power with energy storage arbitrage in day-ahead market by a stochastic MILP approach
Gomes, Isaias
Electricity markets
energy storage
mixed integer linear programming
stochastic optimization
wind power
title_short Wind power with energy storage arbitrage in day-ahead market by a stochastic MILP approach
title_full Wind power with energy storage arbitrage in day-ahead market by a stochastic MILP approach
title_fullStr Wind power with energy storage arbitrage in day-ahead market by a stochastic MILP approach
title_full_unstemmed Wind power with energy storage arbitrage in day-ahead market by a stochastic MILP approach
title_sort Wind power with energy storage arbitrage in day-ahead market by a stochastic MILP approach
author Gomes, Isaias
author_facet Gomes, Isaias
Melício, Rui
Mendes, Victor
Pousinho, Hugo
author_role author
author2 Melício, Rui
Mendes, Victor
Pousinho, Hugo
author2_role author
author
author
dc.contributor.author.fl_str_mv Gomes, Isaias
Melício, Rui
Mendes, Victor
Pousinho, Hugo
dc.subject.por.fl_str_mv Electricity markets
energy storage
mixed integer linear programming
stochastic optimization
wind power
topic Electricity markets
energy storage
mixed integer linear programming
stochastic optimization
wind power
description This paper is about a support information management system for a wind power (WP) producer having an energy storage system (ESS) and participating in a day-ahead electricity market. Energy storage can play not only a leading role in mitigation of the effect of uncertainty faced by a WP producer, but also allow for conversion of wind energy into electric energy to be stored and then released at favourable hours. This storage provides capability for arbitrage, allowing an increase on profit of a WP producer, but must be supported by a convenient problem formulation. The formulation proposed for the support information management system is based on an approach of stochasticity written as a mixed integer linear programming problem. WP and market prices are considered as stochastic processes represented by a set of scenarios. The charging/discharging of the ESS are considered dependent on scenarios of market prices and on scenarios of WP. The effectiveness of the proposed formulation is tested by comparison of case studies using data from the Iberian Electricity Market. The comparison is in favour of the proposed consideration of stochasticity.
publishDate 2019
dc.date.none.fl_str_mv 2019-01-01T00:00:00Z
2020-01-09T10:14:58Z
2020-01-09
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://hdl.handle.net/10174/26335
http://hdl.handle.net/10174/26335
https://doi.org/10.1093/jigpal/jzz054
url http://hdl.handle.net/10174/26335
https://doi.org/10.1093/jigpal/jzz054
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv https://academic.oup.com/jigpal/advance-article/doi/10.1093/jigpal/jzz054/5670473?searchresult=1
ilrgomes21@gmail.com
ruimelicio@gmail.com
vfmendes@deea.isel.pt
hpousinho@gmail.com
483
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv Logic Journal of the IGPL (Oxford Univ Press)
publisher.none.fl_str_mv Logic Journal of the IGPL (Oxford Univ Press)
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
repository.mail.fl_str_mv
_version_ 1817554200910888960

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