Optimal Bidding Strategies for Wind Power Producers in the Day-ahead Electricity Market
نویسندگان
چکیده
منابع مشابه
Optimal Bidding Strategies for Wind Power Producers in the Day-ahead Electricity Market
Wind Power Producers (WPPs) seek to maximize profit and minimize the imbalance costs when bidding into the day-ahead market, but uncertainties in the hourly available wind and forecasting errors make the bidding risky. This paper assumes that hourly wind power output given by the forecast follows a normal distribution, and proposes three different bidding strategies, i.e., the expected profit-m...
متن کاملOptimal Bidding Strategies for Wind Power Producers with Meteorological Forecasts
In recent years, the interest in clean renewable energy resources, such as wind and photovoltaic, has grown rapidly. It is well known that the inherent variability in wind power generation and the related difficulty in predicting future generation profiles, raise major challenges to wind power integration into the electricity grid. In this work we study the problem of optimizing energy bids for...
متن کاملOptimal Bidding Strategy for GENCO with Green Power in Day-ahead Electricity Market
The electricity market has evolved from a regulated monopoly to a more liberalized competitive market, which allows a generating company (GENCO) to bid to provide energy. The two-period structure of the electricity market (day-ahead and real-time market) introduces a mechanism for determining the GENCO’s optimal bidding strategy. The difference between clearing prices for each period adds uncer...
متن کاملDay-Ahead Market Modeling for Strategic Wind Power Producers under Robust Market Clearing
In this paper, considering real time wind power uncertainties, the strategic behaviors of wind power producers adopting two different bidding modes in day-ahead electricity market is modeled and experimentally compared. These two different bidding modes only provide a wind power output plan and a bidding curve consisting of bidding price and power output, respectively. On the one hand, to signi...
متن کاملOptimal Bidding Strategies for Generation Companies in a Day-Ahead Electricity Market with Risk Management Taken into Account
Problem statement: In a competitive electricity market with limited number of producers, Generation Companies (Gencos) is facing an oligopoly market rather than a perfect competition. Under oligopoly market environment, each Genco may increase its own profit through a favorable bidding strategy. The objective of a Genco is to maximize its profit and minimize the associated risk. In order to ach...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Energies
سال: 2012
ISSN: 1996-1073
DOI: 10.3390/en5114804