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

doi:10.1016/j.enconman.2009.01.006

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

Tarbiat Modarres University

Research output: Contribution to journal › Journal article › Research › peer-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 language	English
Journal	Energy Conversion and Management
Volume	50
Issue number	5
Pages (from-to)	1368-1375
ISSN	0196-8904
DOIs	https://doi.org/10.1016/j.enconman.2009.01.006
Publication status	Published - 2009
Externally published	Yes

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy

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

Access to Document

10.1016/j.enconman.2009.01.006

OpenUrl availability

Check availability in DTU Findit

Cite this

@article{5acf69b9d5484a1e915116cc5a131463,

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

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.",

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",

author = "Jalal Kazempour and Moghaddam, \{M. Parsa\} and Haghifam, \{M. R.\} and Yousefi, \{G. R.\}",

year = "2009",

doi = "10.1016/j.enconman.2009.01.006",

language = "English",

volume = "50",

pages = "1368--1375",

journal = "Energy Conversion and Management",

issn = "0196-8904",

publisher = "Elsevier",

number = "5",

}

TY - JOUR

T1 - Risk-constrained dynamic self-scheduling of a pumped-storage plant in the energy and ancillary service markets

AU - Kazempour, Jalal

AU - Moghaddam, M. Parsa

AU - Haghifam, M. R.

AU - Yousefi, G. R.

PY - 2009

Y1 - 2009

N2 - 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.

AB - 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.

KW - Energy Engineering and Power Technology

KW - Fuel Technology

KW - Nuclear Energy and Engineering

KW - Renewable Energy, Sustainability and the Environment

KW - Day-ahead (DA) market

KW - Dynamic self-scheduling (DSS) framework

KW - Pumped-storage plant

KW - Risk

KW - Self-scheduling (SS)

KW - Brain

KW - Electric load forecasting

KW - Electric power transmission

KW - Integer programming

KW - Marketing

KW - Plasma waves

KW - Voltage control

KW - Ancillary service markets

KW - Constrained dynamics

KW - Expected profits

KW - Mixed-integer programming

KW - New approaches

KW - Numerical results

KW - Power deliveries

KW - Price forecasting

KW - Regulation markets

KW - Spinning reserves

KW - Scheduling

KW - THERMODYNAMICS

KW - ENERGY

KW - MECHANICS

KW - PHYSICS,

KW - ELECTRICITY MARKET

KW - OPTIMAL RESPONSE

KW - POWER PRODUCER

KW - PRICE

KW - Pumped storage stations and plants

KW - Power system management, operation and economics

KW - Plant engineering, maintenance and safety

KW - Optimisation techniques

KW - integer programming

KW - power generation economics

KW - power generation scheduling

KW - power markets

KW - pricing

KW - pumped-storage power stations

KW - risk analysis

KW - risk-constrained dynamic self-scheduling

KW - price-taker pumped-storage plant

KW - energy market

KW - ancillary service market

KW - DA energy

KW - day-ahead market regulation

KW - spinning reserve

KW - mixed integer programming problem

U2 - 10.1016/j.enconman.2009.01.006

DO - 10.1016/j.enconman.2009.01.006

M3 - Journal article

SN - 0196-8904

VL - 50

SP - 1368

EP - 1375

JO - Energy Conversion and Management

JF - Energy Conversion and Management

IS - 5

ER -

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

Abstract

UN SDGs

Keywords

Access to Document

OpenUrl availability

Fingerprint

Cite this