Data-Driven Bidding Strategy for DER Aggregator Based on Gated Recurrent Unit–Enhanced Learning Particle Swarm Optimization

Abstract

Distributed energy resources (DERs) such as wind turbines (WTs), photovoltaics (PVs), energy storage systems (ESSs), local loads, and demand response (DR) are highly valued for environmental protection. However, their volatility poses several risks to the DER aggregator while formulating a profitable strategy for bidding in the day-ahead power market. This study proposes a data-driven bidding strategy framework for a DER aggregator confronted with various uncertainties. First, a data-driven forecasting model involving gated recurrent unit-enhanced learning particle swarm optimization (GRU-ELPSO) with improved mutual information (IMI) is employed to model renewables and local loads. It is critical for a DER aggregator to accurately estimate these components before bidding in the day-ahead power market. This aids in reducing the penalty costs of forecasting errors. Second, an optimal bidding strategy that is based on the information gap decision theory (IGDT) is formulated to address market price uncertainty. The DER aggregator is assumed to be risk-averse (RA) or risk-seeker (RS), and the corresponding bidding strategies are formulated according to the risk preferences thereof. Thenr, an hourly bidding profile is created for the DER aggregator to bid successfully in the day-ahead power market. The proposed datadriven bidding framework is evaluated using an illustrative system wherein a dataset is obtained from the PJM market. The results reveal the effectiveness of handling uncertainty by providing accurate forecasting results. In addition, the DER aggregator can bid effectively in the day-ahead power market according to its preference for robustness or high profit, with a suitable bidding profile.

A Techno-Social Approach to Unlocking Vehicle to Everything (V2X) Integration: A Real-World Demonstration

“…As such, it is assumed that the building owner would act as an aggregator of EVs and other on-site DERs, and operate as the point of contact between EV owners and PSOs. This practice aligns with the direction of current and future electricity markets, where aggregators procure DERs that are behind the meter and sell capacity and energy to upstream markets [29]. Thus, incentives would flow from the PSO to the building owner (aggregator), and from the building owner to the EV owners.…”

“…It is worthwhile to note that the useable capacity of each DER is a function of each unique type of DER and its constraints, whether energy storage, intermittent renewable, or distributed generator. More information in this regard can be found in [29].…”

An Optimization Method of Flexible Manufacturing System Reliability Allocation Based on Two Dimension-Reduction Strategies

“…The current velocity and position can be updated according to the personal extreme position and the global extreme position, which are the optimal solutions of the current single particle p pd and that searched by all particles p gd , and the quality of the solution is determined by comparing its corresponding fitness value to that of other solutions. Formulas used to update can be written as follows [20],…”

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“…Here, flat and TOU tariffs were applied to the retail price. Table 1 depicts several important parameter settings used for the numerical simulations [37].…”