 Optimal bidding and offering strategies of merchant compressed air energy storage in deregulated electricity market using robust optimization approachSayyad Nojavan, Afshin Najafi-Ghalelou, Majid Majidi and Kazem Zare Energy, 2018, vol. 142, issue C, 250-257 Abstract: Nowadays, severe uncertainty of electricity market price is a challenge issue in power systems that market players are faced. As one of market players, merchant compressed air energy storage system can be studied to investigate how energy is purchased/sold in the presence of electricity market price uncertainty. Therefore, this paper proposes, robust optimization approach is employed to achieve the offering and bidding curves of compressed air energy storage which should be submitted to the pool market. In the proposed method, the minimum and maximum amounts of electricity market prices are considered instead of the forecasted prices which allows formulating a collection of robust mixed-integer linear programming problem problems. The offering and bidding curves of compressed air energy storage are obtained based on sufficient data from results of these problems to be offered to the market operator. A case study is used to show the performance of proposed method. Keywords: Compressed air energy storage (CAES); Robust optimization approach; Price uncertainty; Robust mixed-integer linear programming (RMIP); Offering and bidding curves (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:142:y:2018:i:c:p:250-257 DOI: 10.1016/j.energy.2017.10.028 Access Statistics for this article Energy is currently edited by Henrik Lund and Mark J. Kaiser More articles in Energy from Elsevier |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.