Optimized Operation Framework of Distributed Thermal Storage Aggregators in the Electricity Spot Market

Haixin Wang, Xiangyu Cai, Zihao Yang, Gen Li, Yue Zhou, Junyou Yang*, Zhe Chen, Shiyan Hu

*Corresponding author for this work

Research output: Contribution to journalJournal articleResearchpeer-review

65 Downloads (Pure)

Abstract

For distributed solid electricity thermal storage aggregators (DSETSA), the uncertainty of the marginal clearing price may lead to the problem of multi-bidding scenarios (including successful, part successful and failed biddings) in the electricity spot market. Moreover, the marginal operating cost affecting the bidding revenue in the spot market is not considered in the existing methods, which challenge the bidding of the aggregators. To address the challenge, this paper proposes an optimized operation framework for DSETSA. First, based on the incomplete information characteristics of the spot market, an optimal bidding model which incorporates marginal operating cost constraints for DSETSA under multi-bidding scenarios is proposed to increase the operation profit. Second, the DSETSA’s multi-bidding scenario problem induced by the uncertainty of the marginal clearing price in the electricity spot market is cast into a probability distribution representation using the Bayesian incomplete information theory to increase the chances of winning bids. Finally, framework establishes the relationship between the bidding price, electricity demand and public traded electricity in the spot market. The effectiveness of the proposed framework is demonstrated through simulations.
Original languageEnglish
JournalIEEE Transactions on Industrial Informatics
Volume20
Issue number2
Pages (from-to)2272-2283
ISSN1551-3203
DOIs
Publication statusPublished - 2024

Keywords

  • Bidding strategy
  • Distributed solid electricity thermal storage
  • Spot market
  • Thermal storage aggregators

Fingerprint

Dive into the research topics of 'Optimized Operation Framework of Distributed Thermal Storage Aggregators in the Electricity Spot Market'. Together they form a unique fingerprint.

Cite this