Authors | Mostafa Vahedipour-Dahraie,Homa Rashidizadeh-Kermani,Miadreza Shafie-Khah,Pierluigi Siano |
---|---|
Journal | IEEE Systems Journal |
Page number | 1-10 |
Paper Type | Full Paper |
Published At | 2020 |
Journal Grade | ISI |
Journal Type | Typographic |
Journal Country | Iran, Islamic Republic Of |
Journal Index | JCR،Scopus |
Abstract
In this article, a stochastic decision-making framework is presented in which a wind power producer (WPP) provides some required reserve capacity from demand response aggregators (DRAs) in a peer-to-peer (P2P) structure. In this structure, each DRA is able to choose the most competitive WPP, and purchase energy and sell reserve capacity to that WPP under a bilateral contract-based P2P electricity trading mechanism. Based on this structure, the WPP can determine the optimal buying reserve from DRAs to offset part of wind power deviation. The proposed framework is formulated as a bilevel stochastic model in which the upper level maximizes the WPP's profit based on the optimal bidding in the day-ahead and balancing markets, whereas the lower level minimizes DRAs' costs. In order to incorporate the risk associated with the WPP's decisions and to assess the effect of scheduling reserves on the profit variability, conditional value at risk is employed.
tags: wind power producer , stochastic decision-making framework , demand response