A multi-stage stochastic programming model for the unit commitment of conventional and virtual power plants bidding in the day-ahead and ancillary services markets

Andrea Fusco, Domenico Gioffrè, Alessandro Francesco Castelli, Cristian Bovo and Emanuele Martelli

Applied Energy, 2023, vol. 336, issue C, No S0306261923001034

Abstract: As more uncontrollable renewable energy sources are present in the power generation portfolio, the need of more detailed and reliable tools for the optimal operation of energy systems has increased in the last years. This work presents a multi-stage stochastic Mixed Integer Linear Program with binary recourse for optimizing the day-ahead unit commitment of power plants and virtual power plants operating in the day-ahead and ancillary services markets. Scenarios reproduce the uncertainty of the ancillary services market requests, and production of photovoltaic panels. A novel decomposition algorithm is proposed to tackle the challenging multistage stochastic program. The methodology is tested on three types of large power plants: a natural gas-fired combined cycle, a combined heat and power combined cycle with thermal storage, and a virtual power plant integrating a combined cycle with battery and photovoltaic fields. Compared to the typical deterministic unit commitment approach, the proposed stochastic optimization approach allows to increase the revenues of the conventional power plant up to 13.58% and, for the combined heat and power and virtual power plant case, it allows finding a feasible and efficient operational scheduling.

Keywords: Multi-energy systems; Decentralized electricity production; Virtual power plant; Electricity markets; Stochastic programming; Unit commitment; Economic Dispatch (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (17)

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DOI: 10.1016/j.apenergy.2023.120739

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