Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
Optimal bidding of a profit-maximizing hydropowerproducer in day-ahead and real-time markets
KTH, School of Electrical Engineering (EES), Electric Power Systems. (Electric Power Systems)
KTH, School of Electrical Engineering (EES), Electric Power Systems. (Electric Power Systems)
2014 (English)In: Probabilistic Methods Applied to Power Systems (PMAPS), 2014 International Conference on, IEEE conference proceedings, 2014, 1-6 p.Conference paper, Published paper (Refereed)
Abstract [en]

This paper develops a price-driven optimal bidding strategy to day-ahead and real-time markets for a profit maximizer hydro power producer. The electricity prices in different market places are unknown when the bidding takes place. The optimal bidding problem is modeled as a multi-stage stochastic program considering the market prices continuously clearing nature. Specifically for that purpose rolling planning is applied, which allow re-forecasting and re-dispatching according to the arrival of new information. The results have shown that, there is a value for hydropower producer to participate in real-time market.

Place, publisher, year, edition, pages
IEEE conference proceedings, 2014. 1-6 p.
National Category
Other Electrical Engineering, Electronic Engineering, Information Engineering
Identifiers
URN: urn:nbn:se:kth:diva-165032DOI: 10.1109/PMAPS.2014.6960589ISI: 000358734100012Scopus ID: 2-s2.0-84915748907ISBN: 978-1-4799-3561-1 (print)OAI: oai:DiVA.org:kth-165032DiVA: diva2:806776
Conference
International Conference on Probabilistic Methods Applied to Power Systems (PMAPS),7-10 July 2014,Durham
Note

QC 20150522

Available from: 2015-04-21 Created: 2015-04-21 Last updated: 2016-09-22Bibliographically approved
In thesis
1. Optimal bidding of a hydropower producer insequential power markets with riskassessment: Stochastic programming approach
Open this publication in new window or tab >>Optimal bidding of a hydropower producer insequential power markets with riskassessment: Stochastic programming approach
2016 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

Short-term hydropower planning and bidding under uncertainty is a complicated task. The problem became more challenging with the liberalized market environment within the last two decades. Apart from this new reform taking place in the electricity market, the electricity market participants including hydropower producers experienced the second change in the form of intermittent wind power integration into power systems. Thus, previous decision support tools are not capable of fulfilling market participants’ expectations in the new competitive and highly uncertain environment. Intermittent power sources, namely wind power, increase the imbalances in the power system, which in turn increases the need of the regulating power sources. Being a flexible energy source, hydropower can provide regulating power. For this purpose, new hydropower planning and bidding models must be developed, capable of addressing uncertainties and the dynamics existing within market places.

In this dissertation, a set of new short-term hydropower planning and bidding models are developed for sequential electricity markets under price uncertainties. Developed stochastic coordinated hydropower planning and bidding tools can be classified into two classes, as models with exogenousand endogenous prices.

In the first class, developed coordinated bidding tools address the price uncertainties using scenario trees, which are built based on the distribution function of the unknown variables. Thus, the proposed coordinated bidding and planning tools consider all possible future prices and market outcomes together with the likelihood of these market outcomes. To reflect the continuously clearing nature of intra-day and real-time markets rolling planning is applied. In addition, models apply risk measures as another way to hedge against uncertain prices.

In the second class, hydropower stochastic strategic bidding models are developed using stochastic bi-level optimization methodology. Here market prices are calculated internally as dual variables of the load balance constraints in the lower level ED problems. To be able to solve the stochastic bilevel optimization problem, KKT optimality conditions are applied. By this transformation the problem is converted to a single-level stochastic program, which is simplified further using a corresponding discretization technique.

Place, publisher, year, edition, pages
Stockholm, Sweden: KTH Royal Institute of Technology, 2016
Series
TRITA-EE, ISSN 1653-5146 ; 2016:039
National Category
Electrical Engineering, Electronic Engineering, Information Engineering
Research subject
Electrical Engineering
Identifiers
urn:nbn:se:kth:diva-192628 (URN)978-91-7595-890-3 (ISBN)
Public defence
2016-10-14, K1, Teknikringen 56, Stockholm, 11:00 (English)
Opponent
Supervisors
Note

QC 20160922

Available from: 2016-09-22 Created: 2016-09-16 Last updated: 2016-09-22Bibliographically approved

Open Access in DiVA

fulltext(370 kB)105 downloads
File information
File name FULLTEXT01.pdfFile size 370 kBChecksum SHA-512
560ed45dcb32afa805b6fff11446b13a84f59aa6da80c9ade8e1db136f76f67f905d75d67a6d21cad44dd129ce7698d9aa93906fb74859e408d3e9232cace694
Type fulltextMimetype application/pdf

Other links

Publisher's full textScopusIEEEXplore

Search in DiVA

By author/editor
Vardanyan, YelenaHesamzadeh, Mohammad
By organisation
Electric Power Systems
Other Electrical Engineering, Electronic Engineering, Information Engineering

Search outside of DiVA

GoogleGoogle Scholar
Total: 105 downloads
The number of downloads is the sum of all downloads of full texts. It may include eg previous versions that are now no longer available

doi
isbn
urn-nbn

Altmetric score

doi
isbn
urn-nbn
Total: 74 hits
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf