Robust offering strategy for a wind power producer under uncertainties

Jiayong Li; Can Wan; Zhao Xu

doi:10.1109/SmartGridComm.2016.7778852

Robust offering strategy for a wind power producer under uncertainties

Jiayong Li, Can Wan, Zhao Xu

The Hong Kong Polytechnic University

Research output: Chapter in book / Conference proceeding › Conference article published in proceeding or book › Academic research › peer-review

10 Citations (Scopus)

Abstract

In the deregulated electricity market, wind power producers (WPPs) are required to submit their generation profile in the day-ahead (DA) market. The consideration of uncertainties associated with price and wind power become crucial to facilitate decision making and risk hedging for WPPs. In this paper, a bidding strategy based on robust optimization is proposed under two trading floors, namely DA market and balancing market. This approach has merits on modelling multiple uncertainties. In addition, the original nonconvex bi-level problem is reformulated into a LP master problem and a MILP subproblem by employing decomposition and linearization techniques. Case studies based on Nodic market demonstrate the effectiveness of the proposed approach.

Original language	English
Title of host publication	2016 IEEE International Conference on Smart Grid Communications, SmartGridComm 2016
Publisher	IEEE
Pages	752-757
Number of pages	6
ISBN (Electronic)	9781509040759
DOIs	https://doi.org/10.1109/SmartGridComm.2016.7778852
Publication status	Published - 8 Dec 2016
Event	7th IEEE International Conference on Smart Grid Communications, SmartGridComm 2016 - Sydney, Australia Duration: 6 Nov 2016 → 9 Nov 2016

Conference

Conference	7th IEEE International Conference on Smart Grid Communications, SmartGridComm 2016
Country/Territory	Australia
City	Sydney
Period	6/11/16 → 9/11/16

Keywords

balancing cost
Benders Decomposition
day-ahead market
robust optimization
uncertainty
wind power producer

ASJC Scopus subject areas

Computer Networks and Communications
Energy Engineering and Power Technology
Control and Optimization
Signal Processing

More information

10.1109/SmartGridComm.2016.7778852

Cite this

@inproceedings{0505ff025a3e4e25a761010d6680cef5,

title = "Robust offering strategy for a wind power producer under uncertainties",

abstract = "In the deregulated electricity market, wind power producers (WPPs) are required to submit their generation profile in the day-ahead (DA) market. The consideration of uncertainties associated with price and wind power become crucial to facilitate decision making and risk hedging for WPPs. In this paper, a bidding strategy based on robust optimization is proposed under two trading floors, namely DA market and balancing market. This approach has merits on modelling multiple uncertainties. In addition, the original nonconvex bi-level problem is reformulated into a LP master problem and a MILP subproblem by employing decomposition and linearization techniques. Case studies based on Nodic market demonstrate the effectiveness of the proposed approach.",

keywords = "balancing cost, Benders Decomposition, day-ahead market, robust optimization, uncertainty, wind power producer",

author = "Jiayong Li and Can Wan and Zhao Xu",

year = "2016",

month = dec,

day = "8",

doi = "10.1109/SmartGridComm.2016.7778852",

language = "English",

pages = "752--757",

booktitle = "2016 IEEE International Conference on Smart Grid Communications, SmartGridComm 2016",

publisher = "IEEE",

address = "United States",

note = "7th IEEE International Conference on Smart Grid Communications, SmartGridComm 2016 ; Conference date: 06-11-2016 Through 09-11-2016",

}

Li, J, Wan, C & Xu, Z 2016, Robust offering strategy for a wind power producer under uncertainties. in 2016 IEEE International Conference on Smart Grid Communications, SmartGridComm 2016., 7778852, IEEE, pp. 752-757, 7th IEEE International Conference on Smart Grid Communications, SmartGridComm 2016, Sydney, Australia, 6/11/16. https://doi.org/10.1109/SmartGridComm.2016.7778852

Robust offering strategy for a wind power producer under uncertainties. / Li, Jiayong; Wan, Can; Xu, Zhao.
2016 IEEE International Conference on Smart Grid Communications, SmartGridComm 2016. IEEE, 2016. p. 752-757 7778852.

Research output: Chapter in book / Conference proceeding › Conference article published in proceeding or book › Academic research › peer-review

TY - GEN

T1 - Robust offering strategy for a wind power producer under uncertainties

AU - Li, Jiayong

AU - Wan, Can

AU - Xu, Zhao

PY - 2016/12/8

Y1 - 2016/12/8

N2 - In the deregulated electricity market, wind power producers (WPPs) are required to submit their generation profile in the day-ahead (DA) market. The consideration of uncertainties associated with price and wind power become crucial to facilitate decision making and risk hedging for WPPs. In this paper, a bidding strategy based on robust optimization is proposed under two trading floors, namely DA market and balancing market. This approach has merits on modelling multiple uncertainties. In addition, the original nonconvex bi-level problem is reformulated into a LP master problem and a MILP subproblem by employing decomposition and linearization techniques. Case studies based on Nodic market demonstrate the effectiveness of the proposed approach.

AB - In the deregulated electricity market, wind power producers (WPPs) are required to submit their generation profile in the day-ahead (DA) market. The consideration of uncertainties associated with price and wind power become crucial to facilitate decision making and risk hedging for WPPs. In this paper, a bidding strategy based on robust optimization is proposed under two trading floors, namely DA market and balancing market. This approach has merits on modelling multiple uncertainties. In addition, the original nonconvex bi-level problem is reformulated into a LP master problem and a MILP subproblem by employing decomposition and linearization techniques. Case studies based on Nodic market demonstrate the effectiveness of the proposed approach.

KW - balancing cost

KW - Benders Decomposition

KW - day-ahead market

KW - robust optimization

KW - uncertainty

KW - wind power producer

UR - http://www.scopus.com/inward/record.url?scp=85010202064&partnerID=8YFLogxK

U2 - 10.1109/SmartGridComm.2016.7778852

DO - 10.1109/SmartGridComm.2016.7778852

M3 - Conference article published in proceeding or book

SP - 752

EP - 757

BT - 2016 IEEE International Conference on Smart Grid Communications, SmartGridComm 2016

PB - IEEE

T2 - 7th IEEE International Conference on Smart Grid Communications, SmartGridComm 2016

Y2 - 6 November 2016 through 9 November 2016

ER -

Robust offering strategy for a wind power producer under uncertainties

Abstract

Conference

Keywords

ASJC Scopus subject areas

More information

Other files and links

Fingerprint

Cite this