Parametric Sensitivity Study for Wind Power Trading through Stochastic Reserve and Energy Market Optimization
2015 (English)In: Green Technologies Conference (GreenTech), 2015 Seventh Annual IEEE, 2015, 82-87 p.Conference paper (Refereed)Text
Trading optimal wind power in energy and regulation markets offer possibilities for increasing revenues as well as impacting security of the system via additional regulation reserve . The bidding in both energy and regulation markets can be computed through stochastic optimization process of both markets as demonstrated in a previous study by Liang . This paper is furthering the previous study by Liang  by analyzing the impact of price ratios between energy and reserve market on the revenues for Swedish market. The parametric study reveals that as long as up-regulation prices are below day-ahead energy, the algorithm will bid in both markets to optimize revenue. When regulation prices surpass or equal to day-ahead energy market price then it only bids energy in the regulation market with the current objective function.
Place, publisher, year, edition, pages
2015. 82-87 p.
, IEEE Green Technologies Conference, ISSN 2166-546X
power generation economics;power markets;power system security;stochastic programming;wind power;Swedish market;day-ahead energy market price;energy market optimization;objective function;optimal wind power trading;parametric sensitivity study;regulation markets;stochastic reserve optimization;system security;up-regulation prices;Linear programming;Optimization;Parametric study;Uncertainty;Wind forecasting;Wind power generation;Reserve market;bidding strategy;electricity market;energy market;power system security;regulation reserve;stochastic optimization;wind power
Electrical Engineering, Electronic Engineering, Information Engineering
IdentifiersURN: urn:nbn:se:uu:diva-268965DOI: 10.1109/GREENTECH.2015.37ISI: 000380903700012ISBN: 9781479988846OAI: oai:DiVA.org:uu-268965DiVA: diva2:899724
Green Technologies Conference (GreenTech), 2015 Seventh Annual IEEE