Version 1
: Received: 5 July 2017 / Approved: 6 July 2017 / Online: 6 July 2017 (07:46:31 CEST)
How to cite:
Alswaiti, M.; Alawami, A. Bidding of Energy Sources and Energy Storage System in Day-ahead Markets. Preprints2017, 2017070009. https://doi.org/10.20944/preprints201707.0009.v1
Alswaiti, M.; Alawami, A. Bidding of Energy Sources and Energy Storage System in Day-ahead Markets. Preprints 2017, 2017070009. https://doi.org/10.20944/preprints201707.0009.v1
Alswaiti, M.; Alawami, A. Bidding of Energy Sources and Energy Storage System in Day-ahead Markets. Preprints2017, 2017070009. https://doi.org/10.20944/preprints201707.0009.v1
APA Style
Alswaiti, M., & Alawami, A. (2017). Bidding of Energy Sources and Energy Storage System in Day-ahead Markets. Preprints. https://doi.org/10.20944/preprints201707.0009.v1
Chicago/Turabian Style
Alswaiti, M. and Ali Alawami. 2017 "Bidding of Energy Sources and Energy Storage System in Day-ahead Markets" Preprints. https://doi.org/10.20944/preprints201707.0009.v1
Abstract
In this work, the Pumped Storage Unit (PSU) is proposed to be integrated with wind-thermal generation system owned by a company whose aim is to maximize its profit through optimal self-scheduling of its units by finding the best bidding strategy in day-ahead energy market. The mathematical formulation of the scenario based unit-commitment and coordinated trading problem is formulated as a stochastic mixed integer linear program. The formulation takes into account several uncertain parameters; such as the wind power generation, energy market prices, and imbalances up/down prices. The expected total profit obtained from energy trading with and without coordinating pumped storage system (PSS) with thermal-wind generation system were compared, and a significant improvement in profit resulted from coordination was observed. Furthermore, coordination between PSS and wind-thermal generation improve the conditional value at risk (CVaR) which monitors the biding risk level.
Engineering, Electrical and Electronic Engineering
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
