Risk-constrained offering strategy for aggregated hybrid power plant including wind power producer and demand response provider

Jamshid Aghaei, Mostafa Barani, Miadreza Shafie-khah, Agustin A. Sanchez De La Nieta, João Catalao

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

Abstract

The unpredictable and volatile nature of wind power is the main obstacle of this generation source in short term trading. Owing to the ability of demand side to cover wind power imbalances, aggregated loads have been presented in the literature as a good complementary resource for the wind generation. To this end, this paper proposes a technique to obtain the best offering strategy for a hybrid power plant consisting of a wind power producer and a demand response provider in the power market. In addition, conditional value-at-risk is used to limit the risk on profit variability. Finally, a detailed analysis of a realistic case study based on a wind farm in Spain has illustrated that joint operation of wind power producers and demand response providers can increase the expected profit and reduce the potential risks.
Original languageEnglish
Title of host publication2016 IEEE Power and Energy Society General Meeting, 17-21 july 2016
Place of PublicationPiscataway
PublisherInstitute of Electrical and Electronics Engineers
Pages1-1
ISBN (Electronic)978-1-5090-4168-8
DOIs
Publication statusPublished - Jul 2016
Externally publishedYes
Event2016 IEEE Power and Energy Society General Meeting (PESGM 2016) - Sheraton Boston Hotel, Boston, United States
Duration: 17 Jul 201621 Jul 2016
http://www.pes-gm.org/2016

Conference

Conference2016 IEEE Power and Energy Society General Meeting (PESGM 2016)
Abbreviated titlePESGM 2016
CountryUnited States
CityBoston
Period17/07/1621/07/16
Internet address

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  • Cite this

    Aghaei, J., Barani, M., Shafie-khah, M., Sanchez De La Nieta, A. A., & Catalao, J. (2016). Risk-constrained offering strategy for aggregated hybrid power plant including wind power producer and demand response provider. In 2016 IEEE Power and Energy Society General Meeting, 17-21 july 2016 (pp. 1-1). Institute of Electrical and Electronics Engineers. https://doi.org/10.1109/PESGM.2016.7741844