Mean-Variance Optimization-Based Energy Storage Scheduling Considering Day-Ahead and Real-Time LMP Uncertainties

In this letter, a new mean-variance optimization-based energy storage scheduling method is proposed with the consideration of both day-ahead (DA) and real-time (RT) energy markets price uncertainties. It considers the locational marginal price (LMP) forecast uncertainties in DA and RT markets. The e...

Celý popis

Uložené v:
Podrobná bibliografia
Vydané v:IEEE transactions on power systems Ročník 33; číslo 6; s. 7292 - 7295
Hlavní autori: Fang, Xin, Hodge, Bri-Mathias, Bai, Linquan, Cui, Hantao, Li, Fangxing
Médium: Journal Article
Jazyk:English
Vydavateľské údaje: New York IEEE 01.11.2018
The Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Predmet:
Economic forecasting
electricity market
Energy industry
ENERGY PLANNING, POLICY, AND ECONOMY
ENERGY STORAGE
Forecast uncertainty
Linear programming
locational marginal price (LMP)
Markets
Mathematical models
mixed-integer conic programming (MICP)
Optimization
Power markets
Real time
Real-time systems
Scheduling
second-order cone programming (SOCP)
Uncertainty
ISSN:0885-8950, 1558-0679
On-line prístup:Získať plný text
Tagy: Pridať tag
Žiadne tagy, Buďte prvý, kto otaguje tento záznam!
Abstract In this letter, a new mean-variance optimization-based energy storage scheduling method is proposed with the consideration of both day-ahead (DA) and real-time (RT) energy markets price uncertainties. It considers the locational marginal price (LMP) forecast uncertainties in DA and RT markets. The energy storage arbitrage risk associated with the LMP forecast uncertainty is explicitly modeled through the variance component in the objective function. The quadratic term of this variance is transformed into a second-order cone constraint using the charging and discharging power complementarity of the energy storage system. Finally, the proposed model is formulated as a mixed-integer conic programming problem. Numerical case studies demonstrate the effectiveness of the proposed model for energy storage scheduling considering price uncertainty.
AbstractList In this letter, a new mean-variance optimization-based energy storage scheduling method is proposed with the consideration of both day-ahead (DA) and real-time (RT) energy markets price uncertainties. It considers the locational marginal price (LMP) forecast uncertainties in DA and RT markets. The energy storage arbitrage risk associated with the LMP forecast uncertainty is explicitly modeled through the variance component in the objective function. The quadratic term of this variance is transformed into a second-order cone constraint using the charging and discharging power complementarity of the energy storage system. Finally, the proposed model is formulated as a mixed-integer conic programming problem. Numerical case studies demonstrate the effectiveness of the proposed model for energy storage scheduling considering price uncertainty.
In this letter, a new mean-variance optimization-based energy storage scheduling method is proposed with the consideration of both day-ahead (DA) and real-time (RT) energy markets price uncertainties. It considers the locational marginal price (LMP) forecast uncertainties in the DA and RT markets. The energy storage arbitrage risk associated with the LMP forecast uncertainty is explicitly modeled through the variance component in the objective function. The quadratic term of this variance is transformed into a second-order cone constraint using the charging and discharging power complementarity of the energy storage system. Finally, the proposed model is formulated as a mixed-integer conic programming problem. Numerical case studies demonstrate the effectiveness of the proposed model for energy storage scheduling considering price uncertainty.
Author Li, Fangxing
Fang, Xin
Bai, Linquan
Hodge, Bri-Mathias
Cui, Hantao
Author_xml – sequence: 1
  givenname: Xin
  orcidid: 0000-0002-7979-803X
  surname: Fang
  fullname: Fang, Xin
  email: allen.fangxin@gmail.com
  organization: National Renewable Energy Laboratory, Golden, CO, USA
– sequence: 2
  givenname: Bri-Mathias
  orcidid: 0000-0001-8684-0534
  surname: Hodge
  fullname: Hodge, Bri-Mathias
  email: bri-mathias.hodge@nrel.gov
  organization: National Renewable Energy Laboratory, Golden, CO, USA
– sequence: 3
  givenname: Linquan
  orcidid: 0000-0002-1408-0369
  surname: Bai
  fullname: Bai, Linquan
  email: linquan.bai@us.abb.com
  organization: ABB, Inc., Raleigh, NC, USA
– sequence: 4
  givenname: Hantao
  orcidid: 0000-0002-4259-5925
  surname: Cui
  fullname: Cui, Hantao
  email: hcui7@utk.edu
  organization: Department of Electrical Engineering & Computer Science, The University of Tennessee, Knoxville, TN, USA
– sequence: 5
  givenname: Fangxing
  orcidid: 0000-0003-1060-7618
  surname: Li
  fullname: Li, Fangxing
  email: fli6@utk.edu
  organization: Department of Electrical Engineering & Computer Science, The University of Tennessee, Knoxville, TN, USA
BackLink https://www.osti.gov/servlets/purl/1465652$$D View this record in Osti.gov
BookMark eNp9kctuWyEURVGVSnXS_kA7Qe0Yh8cFwzB104fkKFHstEOE4VybyAYX8MD9-l7HUQYddMSRWGvr6OxzdJZyAoTeMzpmjJrLxd2v-_mYU6bHXEtuJHuFRkxKTaiamDM0olpLoo2kb9B5rY-UUjV8jNDuBlwiP12JLnnAt7sWt_GPazEn8tlVCPg6QVkd8Lzl4laA534NYb-JaYWnOdUYoBznL-5ArtbgAnYp4HtwG7KIW8Czmzv8MCSX5mJqEepb9Lp3mwrvnt8L9PD1ejH9Tma3335Mr2bEC6UaccwLs1RcCs2Z6zvoqevlhDu65Ap8UAFgALjsl92yN_1EsE6ACAy0CcaDuEAfT7m5tmirjw382ueUwDfLOiWV5AP06QTtSv69h9rsY96XNOxlOePMTLTo2EDpE-VLrrVAb4e0pxO14uLGMmqPJdinEuyxBPtcwqDyf9RdiVtXDv-XPpykCAAvgu6oMYqJv8Folf8
CODEN ITPSEG
CitedBy_id crossref_primary_10_1016_j_ijepes_2020_106673
crossref_primary_10_3389_fenrg_2021_641337
crossref_primary_10_3390_su14063605
crossref_primary_10_1016_j_energy_2024_133688
crossref_primary_10_1109_TSTE_2018_2884997
crossref_primary_10_1016_j_est_2022_106433
crossref_primary_10_1016_j_energy_2019_116826
crossref_primary_10_1109_TSTE_2019_2942066
crossref_primary_10_1109_TSG_2024_3356948
crossref_primary_10_1016_j_ijepes_2024_109883
crossref_primary_10_1109_ACCESS_2023_3347338
crossref_primary_10_1007_s12652_020_02848_5
crossref_primary_10_1016_j_apenergy_2021_116550
crossref_primary_10_1016_j_ijepes_2020_106561
crossref_primary_10_3390_su151813918
crossref_primary_10_1007_s40518_021_00181_9
crossref_primary_10_1109_TCST_2020_3016077
crossref_primary_10_1109_TASE_2020_2977944
crossref_primary_10_1109_TCE_2024_3412803
crossref_primary_10_3390_en18112740
crossref_primary_10_1016_j_ijepes_2021_107912
crossref_primary_10_1007_s00202_025_02950_x
crossref_primary_10_1049_enc2_12076
crossref_primary_10_3390_batteries7030059
crossref_primary_10_1016_j_apenergy_2024_123107
crossref_primary_10_1016_j_epsr_2024_111171
crossref_primary_10_3390_app13137702
crossref_primary_10_23919_JSEE_2022_000064
Cites_doi 10.1016/j.ifacol.2016.10.711
10.1109/TPWRS.2013.2275013
10.1016/j.epsr.2017.07.021
10.1109/TPWRS.2015.2431271
10.1049/iet-gtd.2015.0144
10.1109/TSTE.2017.2647781
10.1109/TPWRS.2016.2603225
10.1109/TSTE.2017.2758378
10.1109/TPWRS.2011.2170442
10.1109/TPWRS.2017.2685347
ContentType Journal Article
Copyright Copyright The Institute of Electrical and Electronics Engineers, Inc. (IEEE) 2018
Copyright_xml – notice: Copyright The Institute of Electrical and Electronics Engineers, Inc. (IEEE) 2018
CorporateAuthor National Renewable Energy Lab. (NREL), Golden, CO (United States)
CorporateAuthor_xml – name: National Renewable Energy Lab. (NREL), Golden, CO (United States)
DBID 97E
RIA
RIE
AAYXX
CITATION
7SP
7TB
8FD
FR3
KR7
L7M
OIOZB
OTOTI
DOI 10.1109/TPWRS.2018.2852951
DatabaseName IEEE All-Society Periodicals Package (ASPP) 2005–Present
IEEE All-Society Periodicals Package (ASPP) 1998–Present
IEEE Electronic Library (IEL)
CrossRef
Electronics & Communications Abstracts
Mechanical & Transportation Engineering Abstracts
Technology Research Database
Engineering Research Database
Civil Engineering Abstracts
Advanced Technologies Database with Aerospace
OSTI.GOV - Hybrid
OSTI.GOV
DatabaseTitle CrossRef
Civil Engineering Abstracts
Engineering Research Database
Technology Research Database
Mechanical & Transportation Engineering Abstracts
Advanced Technologies Database with Aerospace
Electronics & Communications Abstracts
DatabaseTitleList Civil Engineering Abstracts
Database_xml – sequence: 1
  dbid: RIE
  name: IEEE Electronic Library (IEL)
  url: https://ieeexplore.ieee.org/
  sourceTypes: Publisher
DeliveryMethod fulltext_linktorsrc
Discipline Engineering
EISSN 1558-0679
EndPage 7295
ExternalDocumentID 1465652
10_1109_TPWRS_2018_2852951
8409961
Genre orig-research
GrantInformation_xml – fundername: Manager and Operator of the National Renewable Energy Laboratory for the U.S. Department of Energy (DOE)
  grantid: No. DE-AC36-08GO28308
– fundername: Alliance for Sustainable Energy, LLC
– fundername: U.S. Department of Energy Office of Energy Efficiency and Renewable Energy Wind Energy Technologies Office
GroupedDBID -~X
.DC
0R~
29I
3EH
4.4
5GY
5VS
6IK
85S
97E
AAJGR
AARMG
AASAJ
AAWTH
ABAZT
ABFSI
ABQJQ
ABVLG
ACGFO
ACGFS
ACIWK
ACKIV
AENEX
AETIX
AGQYO
AGSQL
AHBIQ
AI.
AIBXA
AKJIK
AKQYR
ALLEH
ALMA_UNASSIGNED_HOLDINGS
ASUFR
ATWAV
BEFXN
BFFAM
BGNUA
BKEBE
BPEOZ
CS3
DU5
E.L
EBS
EJD
HZ~
H~9
ICLAB
IFIPE
IFJZH
IPLJI
JAVBF
LAI
M43
MS~
O9-
OCL
P2P
RIA
RIE
RNS
TAE
TN5
VH1
VJK
AAYXX
CITATION
7SP
7TB
8FD
FR3
KR7
L7M
ABPTK
OIOZB
OTOTI
ID FETCH-LOGICAL-c366t-a1c39b6253821af4ef0af572a0b26ecd6dee39b25fb4bf9f73143e3d1e89d9ce3
IEDL.DBID RIE
ISICitedReferencesCount 39
ISICitedReferencesURI http://www.webofscience.com/api/gateway?GWVersion=2&SrcApp=Summon&SrcAuth=ProQuest&DestLinkType=CitingArticles&DestApp=WOS_CPL&KeyUT=000447834200135&url=https%3A%2F%2Fcvtisr.summon.serialssolutions.com%2F%23%21%2Fsearch%3Fho%3Df%26include.ft.matches%3Dt%26l%3Dnull%26q%3D
ISSN 0885-8950
IngestDate Fri May 19 02:19:03 EDT 2023
Fri Jul 25 19:00:31 EDT 2025
Tue Nov 18 21:42:11 EST 2025
Sat Nov 29 02:52:15 EST 2025
Wed Aug 27 02:52:18 EDT 2025
IsDoiOpenAccess true
IsOpenAccess true
IsPeerReviewed true
IsScholarly true
Issue 6
Language English
License https://ieeexplore.ieee.org/Xplorehelp/downloads/license-information/IEEE.html
https://doi.org/10.15223/policy-029
https://doi.org/10.15223/policy-037
LinkModel DirectLink
MergedId FETCHMERGED-LOGICAL-c366t-a1c39b6253821af4ef0af572a0b26ecd6dee39b25fb4bf9f73143e3d1e89d9ce3
Notes ObjectType-Article-1
SourceType-Scholarly Journals-1
ObjectType-Feature-2
content type line 14
AC36-08GO28308
NREL/JA-5D00-70325
USDOE Office of Energy Efficiency and Renewable Energy (EERE), Wind and Water Technologies Office (EE-4W)
ORCID 0000-0002-4259-5925
0000-0003-1060-7618
0000-0001-8684-0534
0000-0002-7979-803X
0000-0002-1408-0369
OpenAccessLink https://www.osti.gov/servlets/purl/1465652
PQID 2121978341
PQPubID 85441
PageCount 4
ParticipantIDs proquest_journals_2121978341
crossref_citationtrail_10_1109_TPWRS_2018_2852951
ieee_primary_8409961
crossref_primary_10_1109_TPWRS_2018_2852951
osti_scitechconnect_1465652
PublicationCentury 2000
PublicationDate 2018-11-01
PublicationDateYYYYMMDD 2018-11-01
PublicationDate_xml – month: 11
  year: 2018
  text: 2018-11-01
  day: 01
PublicationDecade 2010
PublicationPlace New York
PublicationPlace_xml – name: New York
– name: United States
PublicationTitle IEEE transactions on power systems
PublicationTitleAbbrev TPWRS
PublicationYear 2018
Publisher IEEE
The Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher_xml – name: IEEE
– name: The Institute of Electrical and Electronics Engineers, Inc. (IEEE)
References ref11
ref10
(ref5) 2016
(ref12) 0
(ref13) 0
ref2
ref1
fang (ref6) 0; 49
(ref14) 0
ref8
ref7
ref9
ref4
ref3
References_xml – volume: 49
  start-page: 318
  year: 0
  ident: ref6
  article-title: Risk constrained scheduling of energy storage system for load serving entities considering load and LMP uncertainties
  publication-title: IFAC-PapersOnLine
  doi: 10.1016/j.ifacol.2016.10.711
– ident: ref11
  doi: 10.1109/TPWRS.2013.2275013
– ident: ref1
  doi: 10.1016/j.epsr.2017.07.021
– ident: ref2
  doi: 10.1109/TPWRS.2015.2431271
– ident: ref8
  doi: 10.1049/iet-gtd.2015.0144
– year: 0
  ident: ref12
– year: 0
  ident: ref13
– ident: ref4
  doi: 10.1109/TSTE.2017.2647781
– year: 0
  ident: ref14
– ident: ref3
  doi: 10.1109/TPWRS.2016.2603225
– ident: ref7
  doi: 10.1109/TSTE.2017.2758378
– ident: ref10
  doi: 10.1109/TPWRS.2011.2170442
– year: 2016
  ident: ref5
  article-title: Lazard's levelised cost of storage v2.0
– ident: ref9
  doi: 10.1109/TPWRS.2017.2685347
SSID ssj0006679
Score 2.4876642
Snippet In this letter, a new mean-variance optimization-based energy storage scheduling method is proposed with the consideration of both day-ahead (DA) and real-time...
SourceID osti
proquest
crossref
ieee
SourceType Open Access Repository
Aggregation Database
Enrichment Source
Index Database
Publisher
StartPage 7292
SubjectTerms Economic forecasting
electricity market
Energy industry
ENERGY PLANNING, POLICY, AND ECONOMY
ENERGY STORAGE
Forecast uncertainty
Linear programming
locational marginal price (LMP)
Markets
Mathematical models
mixed-integer conic programming (MICP)
Optimization
Power markets
Real time
Real-time systems
Scheduling
second-order cone programming (SOCP)
Uncertainty
Title Mean-Variance Optimization-Based Energy Storage Scheduling Considering Day-Ahead and Real-Time LMP Uncertainties
URI https://ieeexplore.ieee.org/document/8409961
https://www.proquest.com/docview/2121978341
https://www.osti.gov/servlets/purl/1465652
Volume 33
WOSCitedRecordID wos000447834200135&url=https%3A%2F%2Fcvtisr.summon.serialssolutions.com%2F%23%21%2Fsearch%3Fho%3Df%26include.ft.matches%3Dt%26l%3Dnull%26q%3D
hasFullText 1
inHoldings 1
isFullTextHit
isPrint
journalDatabaseRights – providerCode: PRVIEE
  databaseName: IEEE Electronic Library (IEL)
  customDbUrl:
  eissn: 1558-0679
  dateEnd: 99991231
  omitProxy: false
  ssIdentifier: ssj0006679
  issn: 0885-8950
  databaseCode: RIE
  dateStart: 19860101
  isFulltext: true
  titleUrlDefault: https://ieeexplore.ieee.org/
  providerName: IEEE
link http://cvtisr.summon.serialssolutions.com/2.0.0/link/0/eLvHCXMwlV1NT9wwEB0B6qEcgEKrLlDkQ2-tIU42jn0ECuoB6Irl6xYl9hhVgixaFiT-PTNOdlUEQuopPjhOlBfPzLPnjQG-e-00OqIlJmQoyR_n0pAbkHmtURUGnY8KuYuj4uTEXF3ZwRz8nGlhEDEmn-E2N-Nevh-5B14q22EyYpnrzBeFbrVaM6urdVtXzxh6ms2TqUAmsTtng8vTIWdxme3U8MaWeuGE4qkqdBnRnHplkaObOVz-vxdcgaUunBS7Lf6fYA6bVVj8p8jgGtwdY9XIC-LEDLD4QzbithNfyj3yYV4cRP2fGBL9JusihoSj5wT1azE9zpPbv6onuUum24uq8eKUAkzJ-hFxdDwQ5zRyTC3g8qyf4fzw4Gz_t-zOWZAu03oiK-UyWxMRykyqqtDHkFQhL9IqqVMC0muPSB3SPNT9OthQZBRkYeYVGuutw-wLLDSjBr-C0ESoMzQhdcH1g9U1xUMUgqlQYF6jqnugph--dF0Rcj4L46aMZCSxZQSrZLDKDqwe_Jjdc9eW4Hi39xrjMuvZQdKDDca3pLiCi-M6ziJyEyY-FNGmPdicwl52c_i-JKeueGGsr9bfHnMDPvKTW2XiJixMxg_4DT64x8nf-_FW_D2fAf4t4vA
linkProvider IEEE
linkToHtml http://cvtisr.summon.serialssolutions.com/2.0.0/link/0/eLvHCXMwlV1Lb9QwEB5VBQl64FVQl7bgAzdwG-fh2MdCWxWxu6y629JblNhjVKlkq3aLxL9nxsmuQCAkTvHBcax89sx89jwA3njtNDqiJSZkKEkfF9KQGpBFo1GVBp2PEXLnw3I8NhcXdrIG71axMIgYnc9wj5vxLt_P3R0fle0zGbHMde4VOfGeLlprJXe17jLrGUPfs0WyDJFJ7P5s8uV0yn5cZi81fLWlflNDsa4KPea0q_6QyVHRHD_-vyk-gUe9QSkOuhXwFNawfQYbv6QZ3ITrEdatPCdWzBCLzyQlvvXhl_I9aTEvjmIEoJgSASf5IqaEpGcX9a9iWdCT24f1D3lAwtuLuvXilExMyREkYjiaiDMaOToXcILW53B2fDT7cCL7SgvSZVovZK1cZhuiQplJVR1yDEkdijKtkyYlKL32iNQhLUKTN8GGMiMzCzOv0FhvHWYvYL2dt7gFQhOlztCE1AWXB6sbsojICFOhxKJB1QxALX985fo05FwN46qKdCSxVQSrYrCqHqwBvF29c90l4fhn703GZdWzh2QA24xvRZYFp8d17EfkFkx9yKZNB7CzhL3qd_FtRWpd8dFYrl7-fczX8OBkNhpWw4_jT9vwkGfRxSnuwPri5g534b77vri8vXkVl-pP7_DmNw
openUrl ctx_ver=Z39.88-2004&ctx_enc=info%3Aofi%2Fenc%3AUTF-8&rfr_id=info%3Asid%2Fsummon.serialssolutions.com&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Mean-Variance+Optimization-Based+Energy+Storage+Scheduling+Considering+Day-Ahead+and+Real-Time+LMP+Uncertainties&rft.jtitle=IEEE+transactions+on+power+systems&rft.au=Fang%2C+Xin&rft.au=Hodge%2C+Bri-Mathias&rft.au=Bai%2C+Linquan&rft.au=Cui%2C+Hantao&rft.date=2018-11-01&rft.issn=0885-8950&rft.eissn=1558-0679&rft.volume=33&rft.issue=6&rft.spage=7292&rft.epage=7295&rft_id=info:doi/10.1109%2FTPWRS.2018.2852951&rft.externalDBID=n%2Fa&rft.externalDocID=10_1109_TPWRS_2018_2852951
thumbnail_l http://covers-cdn.summon.serialssolutions.com/index.aspx?isbn=/lc.gif&issn=0885-8950&client=summon
thumbnail_m http://covers-cdn.summon.serialssolutions.com/index.aspx?isbn=/mc.gif&issn=0885-8950&client=summon
thumbnail_s http://covers-cdn.summon.serialssolutions.com/index.aspx?isbn=/sc.gif&issn=0885-8950&client=summon