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• W2913877209 abstract "This paper proposes a coordinated strategy of a hybrid power plant (HPP), which includes a wind power aggregator and a commercial compressed air energy storage (CAES) aggregator to participate in three electricity markets (day-ahead, intraday, and balancing markets). The CAES aggregator has an extra ability which is called a simple-cycle mode operation that makes it works like a gas turbine when needed, which helps the HPP to economically handle the miscalculations of the wind power and electricity price predictions. The coordinated strategy of the HPP is formulated as a three-stage stochastic optimization problem. To control the financial risks, the conditional value-at-risk model is added to the optimization problem. Moreover, the proposed offering method is capable of submitting both bidding quantity and curves to the day-ahead market. A mixed integer linear programming formulation is written for the problem that can be easily solved by commercially available software such as GAMS. The results that were tested on a realistic-based case study located in Spain show the applicability of the suggested method to increase the joint operation profit and decrease the financial risks." @default.
• W2913877209 created "2019-02-21" @default.
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• W2913877209 date "2020-01-01" @default.
• W2913877209 modified "2023-10-06" @default.
• W2913877209 title "Risk-Constrained Bidding Strategy for a Joint Operation of Wind Power and CAES Aggregators" @default.
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• W2913877209 doi "https://doi.org/10.1109/tste.2019.2895332" @default.
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