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| Content Provider | IET Digital Library |
|---|---|
| Author | Nezamabadi, Hossein Vahidinasab, Vahid |
| Abstract | Volatile impact of intermittent renewable energy sources (RESs) on the one hand and the uncertainties of loads and market prices, on the other hand, make the bidding strategy of microgrids (MGs) too risky and high-computational problem. To cope with these challenges, the bidding problem of MGs based on a three-stage hybrid stochastic/interval optimisation (HSIO) is devised in this study, which provides a trade-off between covering the volatilities by means of the MG potential flexibilities resources or by means of the energy provision from the real-time market (RTM). To tackle the uncertainties of the day-ahead market prices, the cost-effective stochastic programming (SP) is applied to maximise the profit of MG in the day-ahead stage of decision-making. In order to handle the volatilities of RESs production and uncertainties of RTM prices, a flexibility scheme based on the robust and low-computational interval optimisation (IO) approach is designed to minimise the balancing cost of MG in the real-time stages. Comprehensive numerical results are provided to compare the effectiveness, robustness, and computational complexity of the proposed model. Results show that the HSIO model takes advantage of the cost-effective solution from the SP model, and the robust solution with computational simplicity from the IO model. |
| Starting Page | 1346 |
| Ending Page | 1357 |
| Page Count | 12 |
| ISSN | 17518687 |
| Volume Number | 13 |
| e-ISSN | 17518695 |
| Issue Number | Issue 8, Apr (2019) |
| Alternate Webpage(s) | https://digital-library.theiet.org/content/journals/iet-gtd/13/8 |
| Alternate Webpage(s) | https://digital-library.theiet.org/content/journals/10.1049/iet-gtd.2018.6097 |
| Journal | IET Generation, Transmission & Distribution |
| Publisher Date | 2019-01-30 |
| Access Restriction | Open |
| Rights Holder | © The Institution of Engineering and Technology |
| Subject Keyword | Bidding Problem Computational Complexity Computational Simplicity Cost-effective Solution Cost-effective Stochastic Programming Day-ahead Market Prices Day-ahead Stage Demand Response Demand Side Management Distributed Power Generation Energy Provision Energy Storage Energy Storage Potential Flexibilities Flexibility Scheme High-computational Problem HSIO Model Intermittent Renewable Energy Source Load Uncertainties Market Bidding Strategy Market Prices MG Potential Flexibilities ReSource MGs Microgrid System Optimisation Technique Power Market Power System Economics Power System Managemen Power System Operation Pricing Real-time Market Real-time Stages Renewable Energy Source RES Production RTM Prices Stochastic Programming Three-stage Hybrid Stochastic/interval Optimisation Volatile Impact Volatilities |
| Content Type | Text |
| Resource Type | Article |
| Subject | Control and Systems Engineering Energy Engineering and Power Technology Electrical and Electronic Engineering |
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