Offering model for a virtual power plant based on stochastic programming
► A two-stage stochastic offering model for a virtual power plant is presented. ► The virtual power plant consists of an intermittent source, a dispatchable source and a storage unit. ► The virtual power plant trades in the day-ahead and balancing markets. ► Characteristic scenarios are thoroughly a...
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| Vydáno v: | Applied energy Ročník 105; s. 282 - 292 |
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| Hlavní autoři: | , , , |
| Médium: | Journal Article |
| Jazyk: | angličtina |
| Vydáno: |
Kidlington
Elsevier Ltd
01.05.2013
Elsevier |
| Témata: | |
| ISSN: | 0306-2619, 1872-9118 |
| On-line přístup: | Získat plný text |
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| Abstract | ► A two-stage stochastic offering model for a virtual power plant is presented. ► The virtual power plant consists of an intermittent source, a dispatchable source and a storage unit. ► The virtual power plant trades in the day-ahead and balancing markets. ► Characteristic scenarios are thoroughly analyzed and relevant conclusions are drawn.
A virtual power plant aggregates various local production/consumption units that act in the market as a single entity. This paper considers a virtual power plant consisting of an intermittent source, a storage facility, and a dispatchable power plant. The virtual power plant sells and purchases electricity in both the day-ahead and the balancing markets seeking to maximize its expected profit. Such model is mathematically rigorous, yet computationally efficient.
The offering problem is cast as a two-stage stochastic mixed-integer linear programming model which maximizes the virtual power plant expected profit. The uncertain parameters, including the power output of the intermittent source and the market prices, are modeled via scenarios based upon historical data. The proposed model is applied to a realistic case study and conclusions are drawn. |
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| AbstractList | A virtual power plant aggregates various local production/consumption units that act in the market as a single entity. This paper considers a virtual power plant consisting of an intermittent source, a storage facility, and a dispatchable power plant. The virtual power plant sells and purchases electricity in both the day-ahead and the balancing markets seeking to maximize its expected profit. Such model is mathematically rigorous, yet computationally efficient. The offering problem is cast as a two-stage stochastic mixed-integer linear programming model which maximizes the virtual power plant expected profit. The uncertain parameters, including the power output of the intermittent source and the market prices, are modeled via scenarios based upon historical data. The proposed model is applied to a realistic case study and conclusions are drawn. ► A two-stage stochastic offering model for a virtual power plant is presented. ► The virtual power plant consists of an intermittent source, a dispatchable source and a storage unit. ► The virtual power plant trades in the day-ahead and balancing markets. ► Characteristic scenarios are thoroughly analyzed and relevant conclusions are drawn. A virtual power plant aggregates various local production/consumption units that act in the market as a single entity. This paper considers a virtual power plant consisting of an intermittent source, a storage facility, and a dispatchable power plant. The virtual power plant sells and purchases electricity in both the day-ahead and the balancing markets seeking to maximize its expected profit. Such model is mathematically rigorous, yet computationally efficient. The offering problem is cast as a two-stage stochastic mixed-integer linear programming model which maximizes the virtual power plant expected profit. The uncertain parameters, including the power output of the intermittent source and the market prices, are modeled via scenarios based upon historical data. The proposed model is applied to a realistic case study and conclusions are drawn. A virtual power plant aggregates various local production/consumption units that act in the market as a single entity. This paper considers a virtual power plant consisting of an intermittent source, a storage facility, and a dispatchable power plant. The virtual power plant sells and purchases electricity in both the day-ahead and the balancing markets seeking to maximize its expected profit. Such model is mathematically rigorous, yet computationally efficient. |
| Author | Morales, Juan M. Kuzle, Igor Conejo, Antonio J. Pandžić, Hrvoje |
| Author_xml | – sequence: 1 givenname: Hrvoje surname: Pandžić fullname: Pandžić, Hrvoje email: hrvoje.pandzic@ieee.org organization: Department of Electrical Engineering, University of Washington, 185 Stevens Way, 98195 Seattle, WA, USA – sequence: 2 givenname: Juan M. surname: Morales fullname: Morales, Juan M. email: juanmi82mg@gmail.com organization: Department of Electrical Engineering, Technical University of Denmark, Ørsteds Plads, Building 349, 2800 Kgs. Lyngby, Denmark – sequence: 3 givenname: Antonio J. surname: Conejo fullname: Conejo, Antonio J. email: antonio.conejo@uclm.es organization: Department of Electrical Engineering, University of Castilla-La Mancha, Campus Universitario, 13071 Ciudad Real, Spain – sequence: 4 givenname: Igor surname: Kuzle fullname: Kuzle, Igor email: igor.kuzle@fer.hr organization: Department of Power Systems, Faculty of Electrical Engineering and Computing, University of Zagreb, Unska 3, 10000 Zagreb, Croatia |
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| Snippet | ► A two-stage stochastic offering model for a virtual power plant is presented. ► The virtual power plant consists of an intermittent source, a dispatchable... A virtual power plant aggregates various local production/consumption units that act in the market as a single entity. This paper considers a virtual power... |
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| SubjectTerms | Applied sciences case studies electricity Electricity markets Energy Exact sciences and technology linear programming market prices markets Natural energy power power plants Pumped hydro storage plant Stochastic programming Virtual power plant Wind energy Wind power plant |
| Title | Offering model for a virtual power plant based on stochastic programming |
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