CEREJO, António [et al.] (2019) - Hydro-wind optimal operation for joint bidding in day-ahead market: storage efficiency and impact of wind forecasting uncertainty. Journal of Modern Power Systems And Clean Energy. ISSN 2196-5625. Doi: 10.35833/MPCE.2018.000689
2196-5625
10.35833/MPCE.2018.000689
Title
Hydro-wind optimal operation for joint bidding in day-ahead market: storage efficiency and impact of wind forecasting uncertainty
Subject
Optimization Hydro power Wind power Uncertainty Joint bidding Pool market
Date
2019-12-11T14:24:31Z 2019-12-11T14:24:31Z 2019
Description
Wind power production is uncertain. The imbalance
between committed and delivered energy in pool markets
leads to the increase of system costs, which must be incurred by
defaulting producers, thereby decreasing their revenues. To
avoid this situation, wind producers can submit their bids together
with hydro resources. Then the mismatches between the
predicted and supplied wind power can be used by hydro producers,
turbining or pumping such differences when convenient.
This study formulates the problem of hydro-wind production
optimization in operation contexts of pool market. The
problem is solved for a simple three-reservoir cascade case to
discuss optimization results. The results show a depreciation in
optimal revenues from hydro power when wind forecasting is
uncertain. The depreciation is caused by an asymmetry in optimal
revenues from positive and negative wind power mismatches.
The problem of neutralizing the effect of forecasting uncertainty
is subsequently formulated and solved for the three-reservoir
case. The results are discussed to conclude the impacts of
uncertainty on joint bidding in pool market contexts. info:eu-repo/semantics/acceptedVersion
