Participation of a combined wind and storage unit in the day-ahead and local balancing markets

Research output: Chapter in Book/Report/Conference proceedingConference contributionAcademicpeer-review

2 Citations (Scopus)
6 Downloads (Pure)

Abstract

In this paper, the market participation of an independent energy producer owning a combined wind generator-energy storage system (WG-ESS) connected to the distribution network is considered. A mathematical model for the profit maximization of the WG-ESS participating strategically in wholesale day-ahead and local balancing markets (LBMs) is proposed. We assume that in a future dominated by uncertainty and variability from distributed renewable energy sources, such a LBM, to be operated by a new entity called distribution market operator (DMO) will evolve. A stochastic bi-level optimization algorithm is adopted, where the WG-ESS maximizes its profit in the day-ahead market and the DMO-operated LBM. The results show that the strategic decisions of the WG-ESS in multiple markets significantly change compared to a single DA energy-only market.

Original languageEnglish
Title of host publication15th International Conference on the European Energy Market, EEM 2018
Place of PublicationPiscataway
PublisherIEEE Computer Society
Number of pages5
ISBN (Electronic)978-1-5386-1488-4
ISBN (Print)978-1-5386-1489-1
DOIs
Publication statusPublished - 20 Sep 2018
Event15th International Conference on the European Energy Market, EEM 2018 - Lodz, Poland
Duration: 27 Jun 201829 Jun 2018

Conference

Conference15th International Conference on the European Energy Market, EEM 2018
CountryPoland
CityLodz
Period27/06/1829/06/18

Keywords

  • Bi-level stochastic optimization
  • Day-ahead market
  • Energy storage systems
  • Local balancing market
  • Wind power

Fingerprint Dive into the research topics of 'Participation of a combined wind and storage unit in the day-ahead and local balancing markets'. Together they form a unique fingerprint.

Cite this