TY - GEN
T1 - Flexible consumption of wind power in short-term electricity market
AU - Du, Chao
AU - Wang, Xifan
AU - Shao, Chengcheng
AU - Xiao, Yunpeng
AU - Dang, Can
N1 - Publisher Copyright:
© 2014 IEEE.
PY - 2014/12/18
Y1 - 2014/12/18
N2 - Wind power as a main force of renewable energy has been developing rapidly in recent years. With the increasing of penetration, wind power participating in electricity market becomes inevitable. Although structures of electricity market are varied in different countries, almost all of electricity markets organize forward market and regulation market in common. In this paper, a flexible consumption methodology in short-term market with considering shifting load, competitive market and price risk was proposed and a two-stage optimization decision model was formulated. Firstly, wind producer decides parts of reliable bidding power in forward market by optimal strategies. Secondly, with the improving of wind power prediction over time, the decision of actual energy allocation between competitive market and shifting load was made according to the rolling updated data. Uncertainty of spot price risk was also considered in the paper. Case study proved that the methodology proposed in this paper can further increase revenues, reduce spillage, and enhance competitiveness of wind power generation.
AB - Wind power as a main force of renewable energy has been developing rapidly in recent years. With the increasing of penetration, wind power participating in electricity market becomes inevitable. Although structures of electricity market are varied in different countries, almost all of electricity markets organize forward market and regulation market in common. In this paper, a flexible consumption methodology in short-term market with considering shifting load, competitive market and price risk was proposed and a two-stage optimization decision model was formulated. Firstly, wind producer decides parts of reliable bidding power in forward market by optimal strategies. Secondly, with the improving of wind power prediction over time, the decision of actual energy allocation between competitive market and shifting load was made according to the rolling updated data. Uncertainty of spot price risk was also considered in the paper. Case study proved that the methodology proposed in this paper can further increase revenues, reduce spillage, and enhance competitiveness of wind power generation.
KW - Electricity market
KW - flexible consumption
KW - shifting load
KW - two-stage decision
KW - wind power
UR - https://www.scopus.com/pages/publications/84925264412
U2 - 10.1109/POWERCON.2014.6993598
DO - 10.1109/POWERCON.2014.6993598
M3 - 会议稿件
AN - SCOPUS:84925264412
T3 - POWERCON 2014 - 2014 International Conference on Power System Technology: Towards Green, Efficient and Smart Power System, Proceedings
SP - 257
EP - 262
BT - POWERCON 2014 - 2014 International Conference on Power System Technology
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - 2014 International Conference on Power System Technology, POWERCON 2014
Y2 - 20 October 2014 through 22 October 2014
ER -
