Hybrid power plant bidding strategy including a commercial compressed air energy storage aggregator and a wind power producer

Publication Type:
Conference Proceeding
Citation:
2017 Australasian Universities Power Engineering Conference, AUPEC 2017, 2018, 2017-November pp. 1 - 6
Issue Date:
2018-02-05
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© 2017 IEEE. In this paper, a commercial compressed air energy storage (CAES) aggregator equipped with a simple cycle mode operation having the ability to work like a gas turbine is coordinated with a wind power aggregator (WPA) as a hybrid power plant to participate in electricity markets. In the proposed approach, the WPA uses the CAES to tackle its stochastic input and uncertainties related to different electricity market prices, and CAES can also use WPA to manage its charging/discharging and simple cycle modes more economically. A three-stage stochastic decision-making method is used to model the mentioned optimization problem which considers three electricity markets including day-ahead, intraday and balancing markets. The problem is formulated as a mixed integer linear programming which can be solved with available commercial solvers. Also, conditional value-at-risk is added to the problem to control the financial risk of the problem and offer different operation strategies for different financials risk levels. The proposed method can provide both bidding quantity and bidding curves to be submitted to the electricity markets which is tested on a realistic case study based on a wind farm and electricity market located in Spain. The results confirm that the proposed method can provide extra profit in joint operation, have more flexibility and reduce the financial risks.
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