Title Optimal coordinated wind-hydro bidding strategies in day-ahead markets
Authors SÁNCHEZ DE LA NIETA LÓPEZ, AGUSTÍN ALEANDRO, Contreras J. , Muñoz J.I.
External publication Si
Means IEEE Trans Power Syst
Scope Article
Nature Científica
JCR Quartile 1
SJR Quartile 1
JCR Impact 3.53000
SJR Impact 2.52300
Web https://www.scopus.com/inward/record.uri?eid=2-s2.0-84885434213&doi=10.1109%2fTPWRS.2012.2225852&partnerID=40&md5=2f3cc65356528a30b8a0dd8072f57475
Publication date 01/01/2013
Scopus Id 2-s2.0-84885434213
DOI 10.1109/TPWRS.2012.2225852
Abstract Wind and hydro technologies represent an important part of the electricity generation sector. However, there have been few detailed studies that have investigated the synergies resulting from their combined operation. To address that, we formulate three optimization models where wind and reversible hydro technologies bid in a day-ahead market. The bidding strategies are divided into three categories: 1) separate wind and reversible hydro offers without a physical connection between them, 2) separate wind and reversible hydro offers with a physical connection to store by pumping the wind energy surplus, and 3) single wind and reversible hydro offers with a physical connection. Risk is considered in the models by means of the conditional value at risk (CVaR). A comparison of the models and relevant conclusions are drawn from an illustrative case study of the Iberian day-ahead electricity market. © 2012 IEEE.
Keywords Value engineering; Wind power; Bidding strategy; Conditional Value-at-Risk; Day-ahead electricity market; Electricity generation sectors; Optimization models; Physical connections; Renewable generatio
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