NDLI: Scheduling and real-time control of flexible loads and storage in electricity markets under uncertainty

Content Provider	IEEE Xplore Digital Library
Author	Karagiannopoulos, S. Vrettos, E. Andersson, G. Zima, M.
Copyright Year	2014
Description	Author affiliation: ABB Corp. Res., Baden-Dättwil, Switzerland (Karagiannopoulos, S.; Zima, M.) \|\| EEH - Power Syst. Lab., ETH Zurich, Zurich, Switzerland (Vrettos, E.; Andersson, G.)
Abstract	In many countries, groups of producers and consumers are organized into virtual entities to participate in electricity markets. These entities are called balance groups (BGs), or are given similar names, because they are responsible for maintaining an energy balance for the group, and experience costs in case of imbalances. With large shares of uncertain renewable energy sources (RES), BGs are exposed to the risk of high balancing costs. In this paper, we propose a day-ahead (DA) scheduling and a real-time (RT) control scheme to minimize the spot market and balancing costs of a BG using flexible loads and storage resources. In the DA scheduling problem, we account for RES and price uncertainties by formulating a two-stage stochastic optimization problem with recourse. The RT control problem is formulated as a stochastic model predictive control (MPC) problem that uses short-term RES forecasts. We demonstrate the performance of the proposed scheme considering a BG with a wind farm, an industrial load, and a pumped-storage plant. The results show that the proposed scheme reduces the BG costs, but the cost savings vary and are case dependent.
Starting Page	1
Ending Page	5
File Size	233714
Page Count	5
File Format	PDF
ISBN	9781479960958
ISSN	21654093
DOI	10.1109/EEM.2014.6861309
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2014-05-28
Publisher Place	Poland
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	model predictive control Schedules Uncertainty Stochastic processes pumped-storage plant Wind power generation Wind forecasting Optimization Load modeling balance group stochastic optimization demand response
Content Type	Text
Resource Type	Article

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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