NDLI: Optimal stochastic scheduling of thermal-wind GENCOs trading in the day-ahead market including bilateral contracts with BSS

Content Provider	IET Digital Library
Author	Gong, Naiwei Luo, Xianjue Ma, Honglian Wang, Qi Wang, Kaiyan
Abstract	With the traditional vertically integrated electric market transforming into a liberalised one, the generation side consisting of various generation companies (GENCOs) is separated from the grid. This transformation gives opportunity for GENCOs to enhance their own profits by expanding business. One example is to establish bilateral contracts directly with the end users. This study considers a thermal-wind GENCO trading with the grid in the pool-based electricity energy market and meanwhile signs bilateral contracts with a battery swapping station (BSS). The operation framework for this GENCO to maximise its profit under uncertain information is proposed. A two-stage stochastic model is adopted to formulate the profit of the GENCO with the uncertain wind power, electricity market price and stochastic BSS electricity demand. The stochastic problem is transformed into deterministic mixed-integer linear programme and solved by CPLEX. The impact of bilateral contract capacity, contract price, degree of uncertainties and the wind power penetration on the final profit is analysed. This work provides a novel operation framework for GENCOs, and provides feasible bidding strategy and scheduling under uncertain conditions, especially for GENCOs owning renewable energy.
Starting Page	3330
Ending Page	3338
Page Count	9
ISSN	17518687
Volume Number	12
e-ISSN	17518695
Issue Number	Issue 13, Jul (2018)
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/iet-gtd/12/13
Alternate Webpage(s)	https://digital-library.theiet.org/content/journals/10.1049/iet-gtd.2018.0060
Journal	IET Generation, Transmission & Distribution
Publisher Date	2018-04-27
Access Restriction	Open
Rights Holder	© The Institution of Engineering and Technology
Subject Keyword	Battery Swapping Station Bilateral Contract Capacity Contract Price Contracts CPLEX Day-ahead Market Deterministic Mixed-integer Linear Programming Electricity Market Price Generation Companies Integer Programming Linear Programming Optimal Stochastic Scheduling Optimisation Technique Pool-based Electricity Energy Market Power Generation Economics Power Generation Scheduling Power Market Power System Economics Power System Managemen Power System Operation Renewable Energy Statistics Stochastic BSS Electricity Demand Stochastic Linearised SCUC Stochastic Problem Thermal-wind GENCOs Trading Two-stage Stochastic Model Uncertain Wind Power Vertically Integrated Electric Market Wind Power Penetration Wind Power Plant
Content Type	Text
Resource Type	Article
Subject	Control and Systems Engineering Energy Engineering and Power Technology Electrical and Electronic Engineering

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