Optimal Wind Bidding Strategies in Day-Ahead Markets

This paper presents a computer application for wind energy bidding in a day-ahead electricity market to better accommodate the variability of the energy source. The computer application is based in a stochastic linear mathematical programming problem. The goal is to obtain the optimal bidding strate...

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Bibliographic Details
Main Author: Gomes, Isaías (author)
Other Authors: Pousinho, Hugo (author), Melício, Rui (author), Mendes, Victor (author)
Format: bookPart
Language:eng
Published: 2017
Subjects:
Bidding strategies
wind power system
stochastic linear programming
day-ahead market
Online Access:http://hdl.handle.net/10174/19760
Country:Portugal
Oai:oai:dspace.uevora.pt:10174/19760
Description
Summary:This paper presents a computer application for wind energy bidding in a day-ahead electricity market to better accommodate the variability of the energy source. The computer application is based in a stochastic linear mathematical programming problem. The goal is to obtain the optimal bidding strategy in order to maximize the revenue. Electricity prices and financial penalties for shortfall or surplus energy deliver are modeled. Finally, conclusions are drawn from an illustrative case study, using data from the day-ahead electricity market of the Iberian Peninsula.

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