Bidding and Optimization Strategies for Wind-PV Systems in Electricity Markets

Detalhes bibliográficos
Autor(a) principal: Gomes, Isaías
Data de Publicação: 2016
Outros Autores: Pousinho, Hugo, Melício, Rui, Mendes, Victor
Tipo de documento: Artigo de conferência
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10174/19412
Resumo: The variability in non-dispatchable power generation raises important challenges to the integration of renewable energy sources into the electricity power grid. This paper provides the coordinated trading of wind and photovoltaic energy to mitigate risks due to the wind and solar power variability, electricity prices, and financial penalties arising out the generation shortfall and surplus. The problem of wind-photovoltaic coordinated trading is formulated as a linear programming problem. The goal is to obtain the optimal bidding strategy that maximizes the total profit. The wind-photovoltaic coordinated operation is modeled and compared with the uncoordinated operation. A comparison of the models and relevant conclusions are drawn from an illustrative case study of the Iberian day-ahead electricity market.
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spelling Bidding and Optimization Strategies for Wind-PV Systems in Electricity MarketsCoordinated bidding strategieswind-PV power systemlinear programmingday-ahead marketThe variability in non-dispatchable power generation raises important challenges to the integration of renewable energy sources into the electricity power grid. This paper provides the coordinated trading of wind and photovoltaic energy to mitigate risks due to the wind and solar power variability, electricity prices, and financial penalties arising out the generation shortfall and surplus. The problem of wind-photovoltaic coordinated trading is formulated as a linear programming problem. The goal is to obtain the optimal bidding strategy that maximizes the total profit. The wind-photovoltaic coordinated operation is modeled and compared with the uncoordinated operation. A comparison of the models and relevant conclusions are drawn from an illustrative case study of the Iberian day-ahead electricity market.2016-12-21T10:45:10Z2016-12-212016-02-05T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/conferenceObjecthttp://hdl.handle.net/10174/19412http://hdl.handle.net/10174/19412eng1st Energy Economics Iberian Conference, EEIC | CIEE 2016simnaonaondndruimelicio@gmail.comnd482Gomes, IsaíasPousinho, HugoMelício, RuiMendes, Victorinfo: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:RCAAP2024-01-03T19:08:32Zoai:dspace.uevora.pt:10174/19412Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T01:11:07.626638Repositório 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 Bidding and Optimization Strategies for Wind-PV Systems in Electricity Markets
title Bidding and Optimization Strategies for Wind-PV Systems in Electricity Markets
spellingShingle Bidding and Optimization Strategies for Wind-PV Systems in Electricity Markets
Gomes, Isaías
Coordinated bidding strategies
wind-PV power system
linear programming
day-ahead market
title_short Bidding and Optimization Strategies for Wind-PV Systems in Electricity Markets
title_full Bidding and Optimization Strategies for Wind-PV Systems in Electricity Markets
title_fullStr Bidding and Optimization Strategies for Wind-PV Systems in Electricity Markets
title_full_unstemmed Bidding and Optimization Strategies for Wind-PV Systems in Electricity Markets
title_sort Bidding and Optimization Strategies for Wind-PV Systems in Electricity Markets
author Gomes, Isaías
author_facet Gomes, Isaías
Pousinho, Hugo
Melício, Rui
Mendes, Victor
author_role author
author2 Pousinho, Hugo
Melício, Rui
Mendes, Victor
author2_role author
author
author
dc.contributor.author.fl_str_mv Gomes, Isaías
Pousinho, Hugo
Melício, Rui
Mendes, Victor
dc.subject.por.fl_str_mv Coordinated bidding strategies
wind-PV power system
linear programming
day-ahead market
topic Coordinated bidding strategies
wind-PV power system
linear programming
day-ahead market
description The variability in non-dispatchable power generation raises important challenges to the integration of renewable energy sources into the electricity power grid. This paper provides the coordinated trading of wind and photovoltaic energy to mitigate risks due to the wind and solar power variability, electricity prices, and financial penalties arising out the generation shortfall and surplus. The problem of wind-photovoltaic coordinated trading is formulated as a linear programming problem. The goal is to obtain the optimal bidding strategy that maximizes the total profit. The wind-photovoltaic coordinated operation is modeled and compared with the uncoordinated operation. A comparison of the models and relevant conclusions are drawn from an illustrative case study of the Iberian day-ahead electricity market.
publishDate 2016
dc.date.none.fl_str_mv 2016-12-21T10:45:10Z
2016-12-21
2016-02-05T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10174/19412
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url http://hdl.handle.net/10174/19412
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 1st Energy Economics Iberian Conference, EEIC | CIEE 2016
sim
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ruimelicio@gmail.com
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482
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instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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