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Reliability and efficiency for market parties in power systems

Puglia, Laura and Patrinos, Panagiotis and Bernardini, Daniele and Bemporad, Alberto Reliability and efficiency for market parties in power systems. In: Proceedings of the 10th International Conference on the European Energy Market (EEM13). IEEE, pp. 1-8. (2013)

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In this paper we present control strategies for solving the problems of risk-averse bidding on the electricity markets, focusing on the Day-Ahead and Ancillary Services market, and of optimal real-time power dispatch from the point of view of a market participant, or Balance Responsible Party (BRP). For what concerns the bidding problem, the proposed algorithms are based on two-stage stochastic programming and are aimed at finding the optimal allocation of production between the day-ahead exchange market and the ancillary services market. For the real-time power dispatch problem, we devised a two-level hierarchical control strategy, where the upper-level computes economically optimal power set-points for the generators, and the lower level tracks them while considering constraints and dynamical models of the plant. Simulation results based on realistic data modeling the Dutch transmission network are shown to evaluate the effectiveness of the approach.

Item Type: Book Section
Identification Number: 10.1109/EEM.2013.6607416
Additional Information: 10th International Conference on the European Energy Market (EEM13), Stockholm, Sweden, 27-31 May 2013
Projects: This work was supported by the European project E–Price: Price-based Control of Electrical Power Systems, FP7-IST contract no. 249096
Uncontrolled Keywords: Distributed power generation, Optimization, Power generation planning, Predictive control, Smart grids
Subjects: H Social Sciences > HB Economic Theory
Q Science > QA Mathematics > QA75 Electronic computers. Computer science
Research Area: Computer Science and Applications
Depositing User: Ms T. Iannizzi
Date Deposited: 05 Mar 2014 14:18
Last Modified: 05 Mar 2014 14:26
URI: http://eprints.imtlucca.it/id/eprint/2177

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