Stochastic wind-thermal generation coordination for Turkish day-ahead electricity market /

Download

index.pdf

Date

2014

Author

Aydoğdu, Aycan

Metadata

Show full item record

Item Usage Stats

211
views

127
downloads

Uncertainties in wind power forecast, day-ahead and imbalance prices for the next day possess a great deal of risk to the profit of generation companies (GENCOs) participating in a day-ahead electricity market. GENCOs are exposed to imbalance penalties in the balancing market for any mismatch between their day-ahead power bids and real-time generations. Proper coordination of wind generation with thermal generation reduces this risk associated with wind uncertainty. This thesis proposes an optimal bidding and generation coordination strategy for GENCOs having wind and thermal generation units in the Turkish day-ahead electricity market. The objective is to find an optimal trade-off between expected profit and risk under wind uncertainty, depending on the risk preference of GENCO. Coordination problem is formulated as a mixed-integer two-stage stochastic programming problem. Scenario based wind power approach is used to handle the stochasticity of wind power. Solution algorithm makes use of dynamic programming in finding the unit commitment status of thermal units. For risk measurement, conditional value at risk (CVaR) term is introduced to the objective function. Sample case studies are investigated in order to assess the impact of the market, wind and thermal data on the day-ahead bidding and wind-thermal coordination. In addition to this, profitability of the coordination and different day-ahead bidding strategies as well as trade-off between expected profit and CVaR are examined with comparative case studies

Subject Keywords

Wind power., Geothermal resources., Renewable energy sources., Electric power consumption, Energy consumption, Power resources

URI

http://etd.lib.metu.edu.tr/upload/12617757/index.pdf
https://hdl.handle.net/11511/23991

Collections

Graduate School of Natural and Applied Sciences, Thesis

Suggestions

OpenMETU
Core

Electricity load and price forecasting of Turkish electricity markets Kalay, Oğuz; Karasözen, Bülent; Department of Financial Mathematics (2018) Progress on the forecasting techniques of market clearing price (MCP) and system marginal price (SMP) conveys millions of dollars profit to the electricity generator corporations. Therefore, more accurate forecasting system on total electricity load (TEL) and market prices enhances profits of the market participants. System of the Turkish Electricity Market has three interdependent platforms; Day Ahead Market (DAM), Intra-Day Market (IDM) and Balancing Power Market (BPM). MCP and SMP are the most important ...
CVaR-based stochastic wind-thermal generation coordination for Turkish electricity market AYDOGDU, Aycan; TOR, BULENT OSMAN; Güven, Ali Nezih (2019-09-01) Uncertainties in wind power forecast, day-ahead and imbalance prices for the next day possess a great deal of risk for the profit of generation companies participating in a day-ahead electricity market. Generation companies are exposed to imbalance penalties in the balancing market for unordered mismatches between associated day-ahead power schedule and real-time generation. Coordination of wind and thermal power plants alleviates the risks raised from wind uncertainties. This paper proposes a novel optimal...
Day ahead markets Kütaruk, Kaan; Sevaioğlu, Osman; Department of Electrical and Electronics Engineering (2013) Day Ahead Market is a mechanism in electricity markets for adjusting the supply-demand energy and capacity balance by providing bids one day before the clearing. Market operator needs to know the available energy and capacity for reaching minimal-cost supply-demand balance one day earlier than the market has been cleared. Minimizing cost of the electricity and capacity during 24 hours of a day requires accurate information concerning the available electricity and capacity. Day-ahead marketing activity is pe...
On the parametric and nonparametric prediction methods for electricity load forecasting Erişen, Esra; İyigün, Cem; Department of Industrial Engineering (2013) Accurate electricity load forecasting is of great importance in deregulated electricity markets. Market participants can reap significant financial benefits by improving their electricity load forecasts. Electricity load exhibits a complex time series structure with nonlinear relationships between the variables. Hence, new models with higher capabilities to capture such nonlinear relationships need to be developed and tested. In this thesis, we present a parametric and a nonparametric method for short-term ...
Short term electricity price forecasting in Turkish electricity market Özgüner, Erdem; Güven, Ali Nezih; Tör, O. Bülent; Department of Electrical and Electronics Engineering (2012) With the aim for higher economical efficiency, considerable and radical changes have occurred in the worldwide electricity sector since the beginning of 1980s. By that time, the electricity sector has been controlled by the state-owned vertically integrated monopolies which manage and control all generation, transmission, distribution and retail activities and the consumers buy electricity with a price set by these monopolies in that system. After the liberalization and restructuring of the electricity powe...

Citation Formats

A. Aydoğdu, “Stochastic wind-thermal generation coordination for Turkish day-ahead electricity market /,” M.S. - Master of Science, Middle East Technical University, 2014.