Offering Strategies of Wind Power Producers in a Day-Ahead Electricity Market
This paper presents a stochastic optimization-based approach applied to offer strategies of a wind power producer in a day-ahead electricity market. Further from facing the uncertainty on the wind power the market forces wind power producers to face the uncertainty of the market-clearing electricity...
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| Format: | lecture |
| Language: | eng |
| Published: |
2015
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| Online Access: | http://hdl.handle.net/10174/16483 |
| Country: | Portugal |
| Oai: | oai:dspace.uevora.pt:10174/16483 |
| Summary: | This paper presents a stochastic optimization-based approach applied to offer strategies of a wind power producer in a day-ahead electricity market. Further from facing the uncertainty on the wind power the market forces wind power producers to face the uncertainty of the market-clearing electricity price. Also, the producer faces penalties in case of being unable to fulfill the offer. An efficient mixed-integer linear program is presented to develop the offering strategies, 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. |
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