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

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2014

Author

Aydoğdu, Aycan

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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

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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.