Day-ahead and real-time market bidding and scheduling strategy for wind power participation based on shared energy storage

Yang, Xiyun; Fan, Liwei; Li, Xiangjun; Meng, Lingzhuochao

doi:10.1016/j.epsr.2022.108903

Cited by 29 publications

(10 citation statements)

References 13 publications

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“…Some papers have handled fairness through benefit post-allocation schemes. For example in Yang et al (2023), the authors studied the joint participation of wind farms with a shared energy storage. The solution is found by first solving a two-stage stochastic program, and then reallocating the lease cost among users in a proportional scheme.…”

Section: Applications Of Fairness In the Literaturementioning

confidence: 99%

“…In the literature, one distinguishes two main approaches in handling fairness: solve the problem efficiently and then reallocate the benefits (Yang et al, 2021;Wang et al, 2019;Yang et al, 2023); or change the objective function in order to get a fair solution (Xinying Chen and Hooker, 2023). In the first approach, we model a multi-agent problem with a utilitarian objective i.e., we optimize the aggregated objectives of agents.…”

Section: Introductionmentioning

confidence: 99%

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Fairness by design in shared-energy allocation problems

Fornier,

Leclère,

Pinson

2024

Preprint

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This paper studies how to aggregate prosumers (or large consumers) and their collective decisions in electricity markets, with a focus on fairness. Fairness is essential for prosumers to participate in aggregation schemes. Some prosumers may not be able to access the energy market directly, even though it would be beneficial for them. Therefore, new companies offer to aggregate them and promise to treat them fairly. This leads to a fair resource allocation problem. We propose to use acceptability constraints to guarantee that each prosumer gains from the aggregation. Moreover, we aim to distribute the costs and benefits fairly, taking into account the multi-period and uncertain nature of the problem. Rather than using financial mechanisms to adjust for fairness issues, we focus on various objectives and constraints, within decision problems, that achieve fairness by design. We start from a simple single-period and deterministic model, and then generalize it to a dynamic and stochastic setting using, e.g., stochastic dominance constraints.

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Section: Applications Of Fairness In the Literaturementioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Fairness by design in shared-energy allocation problems

Fornier,

Leclère,

Pinson

2024

Preprint

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“…Because the spot trading is still in its infancy, big users' direct power purchase is the main concern. The power supply focuses on making attractive power sales schemes to increase the power purchase of big users, thus improve the market competitiveness [26]. Specific to the two energy request mechanisms of cost-perception request and storage perception request, particle swarm optimization algorithm is selected for the optimal power transaction scheme search [15].…”

Section: Power Transaction Scheme Optimization Based On Particle Swar...mentioning

confidence: 99%

Blockchain-Based Power Transaction Method for Active Distribution Network

Zeng¹,

Wei²,

Han³

et al. 2023

Energy Engineering

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A blockchain-based power transaction method is proposed for Active Distribution Network (ADN), considering the poor security and high cost of a centralized power trading system. Firstly, the decentralized blockchain structure of the ADN power transaction is built and the transaction information is kept in blocks. Secondly, considering the transaction needs between users and power suppliers in ADN, an energy request mechanism is proposed, and the optimization objective function is designed by integrating cost aware requests and storage aware requests. Finally, the particle swarm optimization algorithm is used for multi-objective optimal search to find the power trading scheme with the minimum power purchase cost of users and the maximum power sold by power suppliers. The experimental demonstration of the proposed method based on the experimental platform shows that when the number of participants is no more than 10, the transaction delay time is 0.2 s, and the transaction cost fluctuates at 200,000 yuan, which is better than other comparison methods.

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“…Characteristic parameters are discussed with their influence on the system. Yang and Fan [11] propose a day-ahead and real-time market bidding and scheduling strategy for wind power participation based on shared energy storage. Configuration for capacity of energy storage system in wind farm is discussed in [12][13][14][15].…”

Section: Introductionmentioning

confidence: 99%

Rolling‐horizon optimization strategy for wind‐storage system in electricity market

Chen,

Gao,

Ming

2024

IET Renewable Power Gen

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China's electricity spot market is undergoing rapid development. With the increasing integration of new energy sources, it has become imperative for new energy power plants to participate in the market actively. Simultaneously, new energy power facilities are equipped with energy storage to cope with the randomness of power generation. In order to address the optimization and control challenges of wind‐storage combined systems in the market environment, a charging and discharging strategy is proposed. Considering system parameters as variables, an online rolling‐horizon optimization model for wind‐storage systems is constructed to maximize revenue. Case studies demonstrate that this strategy effectively improves the overall revenue of wind power plants. After optimization, the return on investment (ROI) of the system increases by 2.29%. The selection of system parameters can significantly impact the outcomes. The optimal values of the capacity configuration and step size are 25 MWh and 45 min.

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Day-ahead and real-time market bidding and scheduling strategy for wind power participation based on shared energy storage

Cited by 29 publications

References 13 publications

Fairness by design in shared-energy allocation problems

Fairness by design in shared-energy allocation problems

Blockchain-Based Power Transaction Method for Active Distribution Network

Rolling‐horizon optimization strategy for wind‐storage system in electricity market

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