SÁNCHEZ DE LA NIETA LÓPEZ, AGUSTÍN ALEANDRO, Contreras J. , Muñoz J.I.
Si
IEEE Trans. Power Syst.
Article
Científica
3.53
2.523
01/01/2013
2-s2.0-84885434213
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.
Value engineering; Wind power; Bidding strategy; Conditional Value-at-Risk; Day-ahead electricity market; Electricity generation sectors; Optimization models; Physical connections; Renewable generation; Wind-hydro connection; Commerce