The large-scale deployment of renewable power generators in existing power networks is progressively reducing the profitability of traditional thermal power plants, which are going to be dismissed in several European areas. This is causing a considerable reduction of the spinning reserve, which need to be replaced with new flexibility sources. To address this critical issue, the national regulatory authorities are stimulating the participation of the wind power generators to the ancillary markets in order to increase the grid flexibility. To this aim, wind power producers should be supported by reliable tools aimed at defining effective bidding strategies, which maximize the profits, hedging the market risks and the imbalance charges. In the light of this need, in this paper a methodology based on multi-objective and stochastic programming for strategic bidding of wind energy in energy and spinning reserve markets is described with the aim to assess the changing of wind energy biddings in this new framework. Detailed experimental results are presented and discussed in order to assess the performance of the proposed method in the task of solving a real case study.
A Reliable Multi-Objective Methodology for Strategic Bidding of Wind Energy
De Caro F.;Vaccaro A.;Villacci D.
2020-01-01
Abstract
The large-scale deployment of renewable power generators in existing power networks is progressively reducing the profitability of traditional thermal power plants, which are going to be dismissed in several European areas. This is causing a considerable reduction of the spinning reserve, which need to be replaced with new flexibility sources. To address this critical issue, the national regulatory authorities are stimulating the participation of the wind power generators to the ancillary markets in order to increase the grid flexibility. To this aim, wind power producers should be supported by reliable tools aimed at defining effective bidding strategies, which maximize the profits, hedging the market risks and the imbalance charges. In the light of this need, in this paper a methodology based on multi-objective and stochastic programming for strategic bidding of wind energy in energy and spinning reserve markets is described with the aim to assess the changing of wind energy biddings in this new framework. Detailed experimental results are presented and discussed in order to assess the performance of the proposed method in the task of solving a real case study.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
