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A Robust Optimization Model of Aggregated Resources Considering Serving Ratio for Providing Reserve Power in the Joint Electricity Market

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  • Seong-Hyeon Cha

    (Department of Electrical Engineering, Changwon National University (CWNU), 20 Changwondaehak-ro, Uichang-gu, Changwon-si 51140, Republic of Korea)

  • Sun-Hyeok Kwak

    (Department of Electrical Engineering, Changwon National University (CWNU), 20 Changwondaehak-ro, Uichang-gu, Changwon-si 51140, Republic of Korea)

  • Woong Ko

    (Department of Electrical Engineering, Changwon National University (CWNU), 20 Changwondaehak-ro, Uichang-gu, Changwon-si 51140, Republic of Korea)

Abstract

As the share of distributed generation increases, so do the opportunities for aggregators to participate in the electricity market. In particular, aggregators participating in both the day-ahead and real-time markets contribute to improving the reliability of the power system. In addition, aggregators seeking additional revenue can benefit from providing reserves in a joint electricity market environment. However, aggregated resources with uncertainty are limited because of the uncertain nature of both reserve provision and the amount of reserves they can provide. Therefore, this study proposes a robust optimization model for an aggregator to formulate a strategy for participation in the day-ahead markets and deploys energy control in the real-time operation. The serving ratio reflects the availability of the aggregator’s reserve participation. Both the deployed up/down power and renewable energy in the real-time operation are considered as uncertain parameters to reflect the uncertainty. In the case study, we analyze the profit-maximization strategy of an aggregator that owns renewable energy resources and energy-storage systems under the variation interval for uncertain parameters and the serving ratio. The bidding strategies vary by the variation interval and the serving ratio.

Suggested Citation

  • Seong-Hyeon Cha & Sun-Hyeok Kwak & Woong Ko, 2023. "A Robust Optimization Model of Aggregated Resources Considering Serving Ratio for Providing Reserve Power in the Joint Electricity Market," Energies, MDPI, vol. 16(20), pages 1-27, October.
    • Handle: RePEc:gam:jeners:v:16:y:2023:i:20:p:7061-:d:1258486
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    References listed on IDEAS

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