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Hydro-wind optimal operation for joint bidding in day-ahead market: storage efficiency and impact of wind forecasting uncertainty

2019Journal article Open access
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dc.contributor.authorCerejo, António
dc.contributor.authorMariano, Sílvio J.P.S
dc.contributor.authorCarvalho, Pedro M.S.
dc.contributor.authorCalado, Maria do Rosário
dc.date.accessioned2019-12-11T14:24:31Z
dc.date.available2019-12-11T14:24:31Z
dc.date.issued2019
dc.description.abstractWind power production is uncertain. The imbalance between committed and delivered energy in pool markets leads to the increase of system costs, which must be incurred by defaulting producers, thereby decreasing their revenues. To avoid this situation, wind producers can submit their bids together with hydro resources. Then the mismatches between the predicted and supplied wind power can be used by hydro producers, turbining or pumping such differences when convenient. This study formulates the problem of hydro-wind production optimization in operation contexts of pool market. The problem is solved for a simple three-reservoir cascade case to discuss optimization results. The results show a depreciation in optimal revenues from hydro power when wind forecasting is uncertain. The depreciation is caused by an asymmetry in optimal revenues from positive and negative wind power mismatches. The problem of neutralizing the effect of forecasting uncertainty is subsequently formulated and solved for the three-reservoir case. The results are discussed to conclude the impacts of uncertainty on joint bidding in pool market contexts.pt_PT
dc.description.versioninfo:eu-repo/semantics/acceptedVersionpt_PT
dc.identifier.citationCEREJO, António [et al.] (2019) - Hydro-wind optimal operation for joint bidding in day-ahead market: storage efficiency and impact of wind forecasting uncertainty. Journal of Modern Power Systems And Clean Energy. ISSN 2196-5625. Doi: 10.35833/MPCE.2018.000689pt_PT
dc.identifier.doi10.35833/MPCE.2018.000689pt_PT
dc.identifier.issn2196-5625
dc.identifier.urihttp://hdl.handle.net/10400.11/6812
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherSpringerOpenpt_PT
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/pt_PT
dc.subjectOptimizationpt_PT
dc.subjectHydro powerpt_PT
dc.subjectWind powerpt_PT
dc.subjectUncertaintypt_PT
dc.subjectJoint biddingpt_PT
dc.subjectPool marketpt_PT
dc.titleHydro-wind optimal operation for joint bidding in day-ahead market: storage efficiency and impact of wind forecasting uncertaintypt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.citation.titleJournal of Modern Power Systems and Clean Energypt_PT
rcaap.rightsopenAccesspt_PT
rcaap.typearticlept_PT

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