Optimal bidding strategy for a GENCO in day-ahead energy and spinning reserve markets with considerations for coordinated wind-pumped storage-thermal system and CO2 emission
نویسندگان
چکیده
منابع مشابه
Optimal Bidding Strategies of GENCOs in Day-Ahead Energy and Spinning Reserve Markets Based on Hybrid GA-Heuristic Optimization Algorithm
In an electricity market, every generation company (GENCO) attempts to maximize profit according to other participants bidding behaviors and power systems operating conditions. The goal of this study is to examine the optimal bidding strategy problem for GENCOs in energy and spinning reserve markets based on a hybrid GA-heuristic optimization algorithm. The heuristic optimization algorithm used...
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The integration of renewable wind and pumped storage with thermal power generation allows for dispatch of wind energy by generation companies (GENCOs) interested in participation in energy and ancillary services markets. However, to realize the maximum economic profit, optimal coordination and accounting for reduction in cost for environmental emission is necessary. The goal of this study is to...
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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...
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This paper presents a new methodology to maximise the income and derive the optimal end of day storage of closed-loop and daily-cycle pumped-storage hydropower plants. The plants participate in the day-ahead energy market as a price-taker and in the secondary regulation reserve market as a price-maker, in the context of the Iberian electricity system. The real-time use of the committed reserves...
متن کاملPrice-takers’ bidding strategies in joint energy and spinning reserve pay-as-bid markets
Strategic bidding in joint energy and spinning reserve markets is a challenging task from the viewpoint of generation companies (GenCos). In this paper, the interaction between energy and spinning reserve markets is modeled considering a joint probability density function for the prices of these markets. Considering pay-as-bid pricing mechanism, the bidding problem is formulated and solved as a...
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ژورنال
عنوان ژورنال: Energy Strategy Reviews
سال: 2019
ISSN: 2211-467X
DOI: 10.1016/j.esr.2019.100405