NDLI: Hydropower Bidding Strategies to Day-Ahead and Real-Time Markets: Different Approaches

Content Provider	IEEE Xplore Digital Library
Author	Vardanyan, Y. Soder, L. Amelin, M.
Copyright Year	2013
Description	Author affiliation: KTH R. Inst. of Technol., Stockholm, Sweden (Vardanyan, Y.; Soder, L.; Amelin, M.)
Abstract	The ongoing growth in wind power introduce huge amount of uncertainties to the power market. The stochastic nature of these power sources increases the need for the reserve power in real-time market. Having a flexible power source, hydropower producer can provide reserve power and increase its profit. Therefore, to build a planning model, which will allocate available capacity in different market places is an essential task for the price-taker hydropower producer. This paper uses optimal bidding model to the day-ahead market considering real-time balancing market under the uncertainties of the day-ahead and real-time market prices. Specifically, the model is built using stochastic linear programming approach. According to the results, for simultaneous bidding to day-ahead and real-time markets two extreme cases are happening. To make the bidding strategies more realistic and robust different novel approaches are modeled and assessed. Discussions on the results are provided and summarized.
Starting Page	209
Ending Page	213
File Size	219357
Page Count	5
File Format	PDF
ISBN	9780769550701
ISSN	15294188
e-ISBN	9781479921386
DOI	10.1109/DEXA.2013.45
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2013-08-26
Publisher Place	USA
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Real-time systems Hydroelectric power generation Reservoirs Production Stochastic processes Planning Predictive models scenario generation Stochastic programming optimal bidding day-ahead market regulating market
Content Type	Text
Resource Type	Article

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