Risk-constrained dynamic self-scheduling of a pumped-storage plant in the energy and ancillary service markets

Jalal Kazempour, M. Parsa Moghaddam, M. R. Haghifam, G. R. Yousefi

Research output: Contribution to journalJournal articleResearchpeer-review

Abstract

This work addresses a new framework for self-scheduling of an individual price-taker pumped-storage plant in a day-ahead (DA) market. The goal is achieving the best trade-off between the expected profit and the risks when the plant participates in DA energy, spinning reserve and regulation markets. In this paper, a set of uncertainties including price forecasting errors and also the uncertainty of power delivery requests in the ancillary service markets are contemplated. Considering these uncertainties, a new approach is proposed which is called dynamic self-scheduling (DSS). This risk-constrained dynamic self-scheduling problem is therefore formulated and solved as a mixed integer programming (MIP) problem. Numerical results for a case study are discussed. (c) 2009 Elsevier Ltd. All rights reserved.
Original languageEnglish
JournalEnergy Conversion and Management
Volume50
Issue number5
Pages (from-to)1368-1375
ISSN0196-8904
DOIs
Publication statusPublished - 2009
Externally publishedYes

Keywords

  • Energy Engineering and Power Technology
  • Fuel Technology
  • Nuclear Energy and Engineering
  • Renewable Energy, Sustainability and the Environment
  • Day-ahead (DA) market
  • Dynamic self-scheduling (DSS) framework
  • Pumped-storage plant
  • Risk
  • Self-scheduling (SS)
  • Brain
  • Electric load forecasting
  • Electric power transmission
  • Integer programming
  • Marketing
  • Plasma waves
  • Voltage control
  • Ancillary service markets
  • Constrained dynamics
  • Expected profits
  • Mixed-integer programming
  • New approaches
  • Numerical results
  • Power deliveries
  • Price forecasting
  • Regulation markets
  • Spinning reserves
  • Scheduling
  • THERMODYNAMICS
  • ENERGY
  • MECHANICS
  • PHYSICS,
  • ELECTRICITY MARKET
  • OPTIMAL RESPONSE
  • POWER PRODUCER
  • PRICE
  • Pumped storage stations and plants
  • Power system management, operation and economics
  • Plant engineering, maintenance and safety
  • Optimisation techniques
  • integer programming
  • power generation economics
  • power generation scheduling
  • power markets
  • pricing
  • pumped-storage power stations
  • risk analysis
  • risk-constrained dynamic self-scheduling
  • price-taker pumped-storage plant
  • energy market
  • ancillary service market
  • DA energy
  • day-ahead market regulation
  • spinning reserve
  • mixed integer programming problem

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