A Robust Day-Ahead Electricity Market Clearing Model Considering Wind Power Penetration

Hongze Li, Xuejie Wang, Fengyun Li, Yuwei Wang and Xinhua Yu
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Hongze Li: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Xuejie Wang: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Fengyun Li: School of Economics and Management, North China Electric Power University, Beijing 102206, China
Yuwei Wang: Department of Economic Management, North China Electric Power University, Baoding 071003, China
Xinhua Yu: School of Economics and Management, North China Electric Power University, Beijing 102206, China

Energies, 2018, vol. 11, issue 7, 1-18

Abstract: With the development and grid-connection of renewable energy sources such as wind power, there are more and more uncertainties in power systems, and large-scale wind power has brought many challenges to the security and stability the systems. These uncertainties have to be eliminated by means of upward or downward regulations of conventional generators and charging/discharging services of energy storage devices. Based on the analysis of the influence of wind power uncertainties on the day-ahead electricity market, this article proposes a robust clearing model for the day-ahead electricity market considering the wind power penetration, which can help to complete the dispatch of power system. Compared with the traditional models, the proposed model is a multi-objective model, which considers both the lowest operating cost and the least wind power curtailment of power system. Moreover, the obtained dual multipliers λ corresponding to the power balance constraints reflect the marginal cost of the power production in a certain period, that is, the locational marginal price (LMP), which can be used as the clearing prices. This robust market clearing model takes into consideration the economic and reliability of the system operation and accommodates as much renewable energy as possible. The simulation of three wind power producers was implemented on the IEEE 30-bus test system, which verified the rationality of the proposed approaches.

Keywords: day-ahead electricity market; wind power uncertainty; robust market clearing; wind power curtailment (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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