Wind power with energy storage arbitrage in day-ahead market by a stochastic MILP approach
Autor(a) principal: | |
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Data de Publicação: | 2020 |
Outros Autores: | , , |
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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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 |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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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 |
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1799133476567384064 |