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Bidding strategy of wind-thermal energy producers

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  • Laia, R.
  • Pousinho, H.M.I.
  • Melíco, R.
  • Mendes, V.M.F.

Abstract

This paper presents a stochastic mixed-integer linear programming approach for solving the self-scheduling problem of a price-taker thermal and wind power producer taking part in a pool-based electricity market. Uncertainty on electricity price and wind power is considered through a set of scenarios. Thermal units are modelled by variable costs, start-up costs and technical operating constraints, such as: forbidden operating zones, ramp up/down limits and minimum up/down time limits. An efficient mixed-integer linear program is presented to develop the offering strategies of the coordinated production of thermal and wind energy generation, having as a goal the maximization of profit. A case study with data from the Iberian Electricity Market is presented and results are discussed to show the effectiveness of the proposed approach.

Suggested Citation

  • Laia, R. & Pousinho, H.M.I. & Melíco, R. & Mendes, V.M.F., 2016. "Bidding strategy of wind-thermal energy producers," Renewable Energy, Elsevier, vol. 99(C), pages 673-681.
    • Handle: RePEc:eee:renene:v:99:y:2016:i:c:p:673-681
    DOI: 10.1016/j.renene.2016.07.049
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    References listed on IDEAS

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    Cited by:

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    10. 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).
    11. Huiru Zhao & Yuwei Wang & Mingrui Zhao & Qingkun Tan & Sen Guo, 2017. "Day-Ahead Market Modeling for Strategic Wind Power Producers under Robust Market Clearing," Energies, MDPI, vol. 10(7), pages 1-27, July.
    12. 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.
    13. Yan, Xiaohe & Gu, Chenghong & Li, Furong & Xiang, Yue, 2018. "Network pricing for customer-operated energy storage in distribution networks," Applied Energy, Elsevier, vol. 212(C), pages 283-292.
    14. Yu, Hyun Jin Julie, 2017. "Virtuous cycle of solar photovoltaic development in new regions," Renewable and Sustainable Energy Reviews, Elsevier, vol. 78(C), pages 1357-1366.
    15. Mukherjee, Shilpi & Dhingra, Tarun & Sengupta, Anirban, 2017. "Status of Electricity Act, 2003: A systematic review of literature," Energy Policy, Elsevier, vol. 102(C), pages 237-248.
    16. Afshar, Karim & Ghiasvand, Farshad Shamsini & Bigdeli, Nooshin, 2018. "Optimal bidding strategy of wind power producers in pay-as-bid power markets," Renewable Energy, Elsevier, vol. 127(C), pages 575-586.
    17. del Río, Pablo & Kiefer, Christoph P., 2023. "Academic research on renewable electricity auctions: Taking stock and looking forward," Energy Policy, Elsevier, vol. 173(C).
    18. Yang, Peiwen & Dong, Jun & Lin, Jin & Liu, Yao & Fang, Debin, 2021. "Analysis of offering behavior of generation-side integrated energy aggregator in electricity market:A Bayesian evolutionary approach," Energy, Elsevier, vol. 228(C).
    19. Weimer-Jehle, Wolfgang & Buchgeister, Jens & Hauser, Wolfgang & Kosow, Hannah & Naegler, Tobias & Poganietz, Witold-Roger & Pregger, Thomas & Prehofer, Sigrid & von Recklinghausen, Andreas & Schippl, , 2016. "Context scenarios and their usage for the construction of socio-technical energy scenarios," Energy, Elsevier, vol. 111(C), pages 956-970.
    20. Khaloie, Hooman & Abdollahi, Amir & Shafie-khah, Miadreza & Anvari-Moghaddam, Amjad & Nojavan, Sayyad & Siano, Pierluigi & Catalão, João P.S., 2020. "Coordinated wind-thermal-energy storage offering strategy in energy and spinning reserve markets using a multi-stage model," Applied Energy, Elsevier, vol. 259(C).
    21. Zdankus, T. & Cerneckiene, J. & Jonynas, R. & Stelmokaitis, G. & Fokaides, P.A., 2020. "Experimental investigation of a wind to thermal energy hydraulic system," Renewable Energy, Elsevier, vol. 159(C), pages 140-150.
    22. Gomes, I.L.R. & Melicio, R. & Mendes, V.M.F. & Pousinho, H.M.I., 2019. "Decision making for sustainable aggregation of clean energy in day-ahead market: Uncertainty and risk," Renewable Energy, Elsevier, vol. 133(C), pages 692-702.
    23. Endemaño-Ventura, Lázaro & Serrano González, Javier & Roldán Fernández, Juan Manuel & Burgos Payán, Manuel & Riquelme Santos, Jesús Manuel, 2021. "Optimal energy bidding for renewable plants: A practical application to an actual wind farm in Spain," Renewable Energy, Elsevier, vol. 175(C), pages 1111-1126.

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