Aghaei, Jamshid , Barani, Mostafa , Shafie-Khah, Miadreza , SÁNCHEZ DE LA NIETA LÓPEZ, AGUSTÍN ALEANDRO, Catalao, Joao P. S.
Si
IEEE Trans. Sustainable Energy
Article
Científica
4.909
2.368
01/04/2016
000373148500007
2-s2.0-84949991266
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.
Hybrid power plant; wind power; demand response; offering strategy; stochastic programming