Title Risk-Constrained Offering Strategy for Aggregated Hybrid Power Plant Including Wind Power Producer and Demand Response Provider
Authors Aghaei, Jamshid , Barani, Mostafa , Shafie-Khah, Miadreza , SÁNCHEZ DE LA NIETA LÓPEZ, AGUSTÍN ALEANDRO, Catalao, Joao P. S.
External publication Si
Means IEEE Trans. Sustainable Energy
Scope Article
Nature Científica
JCR Quartile 1
SJR Quartile 1
JCR Impact 4.90900
SJR Impact 2.36800
Web https://www.scopus.com/inward/record.uri?eid=2-s2.0-84949991266&doi=10.1109%2fTSTE.2015.2500539&partnerID=40&md5=d52c77e287fb39e8338d6e9336aad20a
Publication date 01/04/2016
ISI 000373148500007
Scopus Id 2-s2.0-84949991266
DOI 10.1109/TSTE.2015.2500539
Abstract The unpredictable and volatile nature of wind power is the main obstacle of this generation source in short-term trading. Owing to the ability of demand side to cover wind power imbalances, aggregated loads have been presented in the literature as a good complementary resource for the wind generation. To this end, this paper proposes a technique to obtain the best offering strategy for a hybrid power plant consisting of a wind power producer and a demand response provider in the power market. In addition, conditional value-at-risk is used to limit the risk on profit variability. Finally, a detailed analysis of a realistic case study based on a wind farm in Spain has illustrated that joint operation of wind power producers and demand response providers can increase the expected profit and reduce the potential risks.
Keywords Hybrid power plant; wind power; demand response; offering strategy; stochastic programming
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