Bidding strategy of wind-thermal energy producers

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

Renewable Energy, 2016, vol. 99, issue C, 673-681

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.

Keywords: Bidding strategy; Stochastic programming; Mixed integer linear programming; Wind thermal coordination (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (24)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:renene:v:99:y:2016:i:c:p:673-681

DOI: 10.1016/j.renene.2016.07.049

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