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

Detalhes bibliográficos
Autor(a) principal: Gomes, Isaías
Data de Publicação: 2020
Outros Autores: Melício, R., Mendes, Victor, Pousinho, H. M. I.
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.21/12642
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.Oxford Univ. PressRCIPLGomes, IsaíasMelício, R.Mendes, VictorPousinho, H. M. I.2021-01-19T10:39:17Z2020-082020-08-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.21/12642engGOMES, Isaias L. R.; [et al] – Wind power with energy storage arbitrage in day-ahead market by a stochastic MILP approach. Logic Journal of the IGPL. ISSN 1367-0751. Vol. 28, N.º 4 (2020), pp. 570-5821367-075110.1093/jigpal/jzz0541368-9894metadata only accessinfo: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:RCAAP2023-08-03T10:05:57Zoai:repositorio.ipl.pt:10400.21/12642Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T20:20:41.564160Repositório 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, Isaías
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, Isaías
author_facet Gomes, Isaías
Melício, R.
Mendes, Victor
Pousinho, H. M. I.
author_role author
author2 Melício, R.
Mendes, Victor
Pousinho, H. M. I.
author2_role author
author
author
dc.contributor.none.fl_str_mv RCIPL
dc.contributor.author.fl_str_mv Gomes, Isaías
Melício, R.
Mendes, Victor
Pousinho, H. M. I.
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 2020
dc.date.none.fl_str_mv 2020-08
2020-08-01T00:00:00Z
2021-01-19T10:39:17Z
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/10400.21/12642
url http://hdl.handle.net/10400.21/12642
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv GOMES, Isaias L. R.; [et al] – Wind power with energy storage arbitrage in day-ahead market by a stochastic MILP approach. Logic Journal of the IGPL. ISSN 1367-0751. Vol. 28, N.º 4 (2020), pp. 570-582
1367-0751
10.1093/jigpal/jzz054
1368-9894
dc.rights.driver.fl_str_mv metadata only access
info:eu-repo/semantics/openAccess
rights_invalid_str_mv metadata only access
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Oxford Univ. Press
publisher.none.fl_str_mv 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
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