- Volume 13 Issue 6
DOI QR Code
Optimal Offer Strategies for Energy Storage System Integrated Wind Power Producers in the Day-Ahead Energy and Regulation Markets
- Son, Seungwoo ;
- Han, Sini ;
- Roh, Jae Hyung ;
- Lee, Duehee
- Received : 2018.04.30
- Accepted : 2018.09.11
- Published : 2018.11.01
We make optimal consecutive offer curves for an energy storage system (ESS) integrated wind power producer (WPP) in the co-optimized day-ahead energy and regulation markets. We build the offer curves by solving multi-stage stochastic optimization (MSSO) problems based on the scenarios of pairs consisting of real-time price and wind power forecasts through the progressive hedging method (PHM). We also use the rolling horizon method (RHM) to build the consecutive offer curves for several hours in chronological order. We test the profitability of the offer curves by using the data sampled from the Iberian Peninsula. We show that the offer curves obtained by solving MSSO problems with the PHM and RHM have a higher profitability than offer curves obtained by solving deterministic problems.
Wind power producers;Energy storage system;Day-ahead market;Progressive hedging method;Offer curve;Rolling horizon method;Multi-stage stochastic optimization
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Supported by : Korea Institute of Energy Technology Evaluation and Planning (KETEP)