IDEAS home Printed from https://ideas.repec.org/a/eee/energy/v236y2021ics0360544221017230.html
   My bibliography  Save this article

Sequential coalition formation for wind-thermal combined bidding

Author

Listed:
  • Peng, Feixiang
  • Hu, Shubo
  • Fan, Xuanxuan
  • Sun, Hui
  • Zhou, Wei
  • Guo, Furan
  • Song, Wenzhuo

Abstract

Combined bidding strategies can reduce the imbalance penalty caused by wind power uncertainty. Power generation stakeholders can benefit from the combined bidding with a suitable coalition. However, the coalition formation method for wind farms with other resources is less reported. In this paper, a sequential coalition formation method is studied. The relationship constraint of wind-thermal combined bidding in a day-ahead market is described by the star graph. Technique for order preference by similarity to ideal solution (TOPSIS) is used to rank the thermal power plants considering multiple evaluation criteria. On the basis of the star graph and the TOPSIS, the coalition structure graph (CSG) is simplified. An actual wind farm and five thermal power plants in northeast China are utilized to verify the effectiveness and practicability of the proposed method. The results show that the proposed method can reduce the computational complexity of coalition formation. When wind power deviations are 0.1, 0.2, 0.3, and 0.4, the retrieval coalition structures are only 4.93%, 4.93%, 6.40%, and 7.39% of those in the basic CSG. The utilities of the formed coalitions have increment rates of 1.30%, 2.79%, 4.13%, and 5.45% compared with those under separated bidding in different wind power scenarios.

Suggested Citation

  • Peng, Feixiang & Hu, Shubo & Fan, Xuanxuan & Sun, Hui & Zhou, Wei & Guo, Furan & Song, Wenzhuo, 2021. "Sequential coalition formation for wind-thermal combined bidding," Energy, Elsevier, vol. 236(C).
  • Handle: RePEc:eee:energy:v:236:y:2021:i:c:s0360544221017230
    DOI: 10.1016/j.energy.2021.121475
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0360544221017230
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.energy.2021.121475?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Das, Saborni & Basu, Mousumi, 2020. "Day-ahead optimal bidding strategy of microgrid with demand response program considering uncertainties and outages of renewable energy resources," Energy, Elsevier, vol. 190(C).
    2. Yong Luo & Shi-zhao Wang & Xiao-chen Sun & Oscar D. Crisalle, 2016. "Analysis of retailers’ coalition stability for supply chain based on LCS and stable set," International Journal of Production Research, Taylor & Francis Journals, vol. 54(1), pages 170-185, January.
    3. Akbari, Ebrahim & Hooshmand, Rahmat-Allah & Gholipour, Mehdi & Parastegari, Moein, 2019. "Stochastic programming-based optimal bidding of compressed air energy storage with wind and thermal generation units in energy and reserve markets," Energy, Elsevier, vol. 171(C), pages 535-546.
    4. Gomes, I.L.R. & Pousinho, H.M.I. & Melício, R. & Mendes, V.M.F., 2017. "Stochastic coordination of joint wind and photovoltaic systems with energy storage in day-ahead market," Energy, Elsevier, vol. 124(C), pages 310-320.
    5. Abdmouleh, Zeineb & Alammari, Rashid A.M. & Gastli, Adel, 2015. "Review of policies encouraging renewable energy integration & best practices," Renewable and Sustainable Energy Reviews, Elsevier, vol. 45(C), pages 249-262.
    6. Peng, Xu & Tao, Xiaoma, 2018. "Cooperative game of electricity retailers in China's spot electricity market," Energy, Elsevier, vol. 145(C), pages 152-170.
    7. Jon Martinez-Rico & Ekaitz Zulueta & Unai Fernandez-Gamiz & Ismael Ruiz de Argandoña & Mikel Armendia, 2020. "Forecast Error Sensitivity Analysis for Bidding in Electricity Markets with a Hybrid Renewable Plant Using a Battery Energy Storage System," Sustainability, MDPI, vol. 12(9), pages 1-18, April.
    8. Turan Arslan, 2017. "A Weighted Euclidean Distance based TOPSIS Method for Modeling Public Subjective Judgments," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 34(03), pages 1-18, June.
    9. Ren, Kaipeng & Tang, Xu & Wang, Peng & Willerström, Jakob & Höök, Mikael, 2021. "Bridging energy and metal sustainability: Insights from China’s wind power development up to 2050," Energy, Elsevier, vol. 227(C).
    10. Moradi, Jalal & Shahinzadeh, Hossein & Khandan, Amirsalar & Moazzami, Majid, 2017. "A profitability investigation into the collaborative operation of wind and underwater compressed air energy storage units in the spot market," Energy, Elsevier, vol. 141(C), pages 1779-1794.
    11. Wang, Haiyang & Zhang, Chenghui & Li, Ke & Ma, Xin, 2021. "Game theory-based multi-agent capacity optimization for integrated energy systems with compressed air energy storage," Energy, Elsevier, vol. 221(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jun Dong & Yuanyuan Wang & Xihao Dou & Zhengpeng Chen & Yaoyu Zhang & Yao Liu, 2021. "Research on Decision Optimization Model of Microgrid Participating in Spot Market Transaction," Sustainability, MDPI, vol. 13(12), pages 1-26, June.
    2. Wu, Danman & Bai, Jiayu & Wei, Wei & Chen, Laijun & Mei, Shengwei, 2021. "Optimal bidding and scheduling of AA-CAES based energy hub considering cascaded consumption of heat," Energy, Elsevier, vol. 233(C).
    3. Díaz, Guzmán & Coto, José & Gómez-Aleixandre, Javier, 2019. "Optimal operation value of combined wind power and energy storage in multi-stage electricity markets," Applied Energy, Elsevier, vol. 235(C), pages 1153-1168.
    4. Gomes, I.L.R. & Melicio, R. & Mendes, V.M.F., 2021. "A novel microgrid support management system based on stochastic mixed-integer linear programming," Energy, Elsevier, vol. 223(C).
    5. Akbari, Ebrahim & Hooshmand, Rahmat-Allah & Gholipour, Mehdi & Parastegari, Moein, 2019. "Stochastic programming-based optimal bidding of compressed air energy storage with wind and thermal generation units in energy and reserve markets," Energy, Elsevier, vol. 171(C), pages 535-546.
    6. Mostafa Nasouri Gilvaei & Mahmood Hosseini Imani & Mojtaba Jabbari Ghadi & Li Li & Anahita Golrang, 2021. "Profit-Based Unit Commitment for a GENCO Equipped with Compressed Air Energy Storage and Concentrating Solar Power Units," Energies, MDPI, vol. 14(3), pages 1-20, January.
    7. Bazdar, Elaheh & Sameti, Mohammad & Nasiri, Fuzhan & Haghighat, Fariborz, 2022. "Compressed air energy storage in integrated energy systems: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 167(C).
    8. Chandra Ade Irawan & Dylan Jones, 2019. "Formulation and solution of a two-stage capacitated facility location problem with multilevel capacities," Annals of Operations Research, Springer, vol. 272(1), pages 41-67, January.
    9. Amine Lahiani & Sinha Avik & Muhammad Shahbaz, 2018. "Renewable energy consumption, income, CO2 emissions and oil prices in G7 countries: The importance of asymmetries," Post-Print hal-03677233, HAL.
    10. Silva, Ana R. & Pousinho, H.M.I. & Estanqueiro, Ana, 2022. "A multistage stochastic approach for the optimal bidding of variable renewable energy in the day-ahead, intraday and balancing markets," Energy, Elsevier, vol. 258(C).
    11. Haghi, Ehsan & Raahemifar, Kaamran & Fowler, Michael, 2018. "Investigating the effect of renewable energy incentives and hydrogen storage on advantages of stakeholders in a microgrid," Energy Policy, Elsevier, vol. 113(C), pages 206-222.
    12. de Oliveira, Lucas Guedes & Aquila, Giancarlo & Balestrassi, Pedro Paulo & de Paiva, Anderson Paulo & de Queiroz, Anderson Rodrigo & de Oliveira Pamplona, Edson & Camatta, Ulisses Pessin, 2020. "Evaluating economic feasibility and maximization of social welfare of photovoltaic projects developed for the Brazilian northeastern coast: An attribute agreement analysis," Renewable and Sustainable Energy Reviews, Elsevier, vol. 123(C).
    13. Gao, Evelyn & Sowlati, Taraneh & Akhtari, Shaghaygh, 2019. "Profit allocation in collaborative bioenergy and biofuel supply chains," Energy, Elsevier, vol. 188(C).
    14. Sergio Coronas & Jordi de la Hoz & Àlex Alonso & Helena Martín, 2022. "23 Years of Development of the Solar Power Generation Sector in Spain: A Comprehensive Review of the Period 1998–2020 from a Regulatory Perspective," Energies, MDPI, vol. 15(4), pages 1-53, February.
    15. Liu, Yang & Jiang, Zhigao & Guo, Bowei, 2022. "Assessing China’s provincial electricity spot market pilot operations: Lessons from Guangdong province," Energy Policy, Elsevier, vol. 164(C).
    16. Ding, Yihong & Tan, Qinliang & Shan, Zijing & Han, Jian & Zhang, Yimei, 2023. "A two-stage dispatching optimization strategy for hybrid renewable energy system with low-carbon and sustainability in ancillary service market," Renewable Energy, Elsevier, vol. 207(C), pages 647-659.
    17. Zhang, Weifeng & Ding, Jialu & Yin, Suzhen & Zhang, Fangyuan & Zhang, Yao & Liu, Zhan, 2024. "Thermo-economic optimization of an artificial cavern compressed air energy storage with CO2 pressure stabilizing unit," Energy, Elsevier, vol. 294(C).
    18. Solarte-Toro, Juan Camilo & Romero-García, Juan Miguel & Martínez-Patiño, Juan Carlos & Ruiz-Ramos, Encarnación & Castro-Galiano, Eulogio & Cardona-Alzate, Carlos Ariel, 2019. "Acid pretreatment of lignocellulosic biomass for energy vectors production: A review focused on operational conditions and techno-economic assessment for bioethanol production," Renewable and Sustainable Energy Reviews, Elsevier, vol. 107(C), pages 587-601.
    19. Joseph M. Kiesecker & Shivaprakash K. Nagaraju & James R. Oakleaf & Anthony Ortiz & Juan Lavista Ferres & Caleb Robinson & Srinivas Krishnaswamy & Raman Mehta & Rahul Dodhia & Jeffrey S. Evans & Micha, 2023. "The Road to India’s Renewable Energy Transition Must Pass through Crowded Lands," Land, MDPI, vol. 12(11), pages 1-18, November.
    20. Rezaei, Navid & Pezhmani, Yasin & Khazali, Amirhossein, 2022. "Economic-environmental risk-averse optimal heat and power energy management of a grid-connected multi microgrid system considering demand response and bidding strategy," Energy, Elsevier, vol. 240(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:energy:v:236:y:2021:i:c:s0360544221017230. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/energy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.