Dispatching Pumped Storage Hydro

McDaniel, G. H.; Gabrielle, A. F.

doi:10.1109/tpas.1966.291683

Cited by 14 publications

(4 citation statements)

References 2 publications

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“…Within power systems research, the dominant formulation for optimizing battery operations has been over the day-ahead horizon. In part this reflects the well-established daily unit commitment scheduling by system operators [38], as well as the cycling of pumped storage which has a long history of daily operations [39]. Furthermore, the major role of the day-ahead auction is to provide a liquid and efficient market to fix the prices for day-ahead contracted volumes.…”

Section: Background Researchmentioning

confidence: 96%

Optimal Daily Trading of Battery Operations Using Arbitrage Spreads

Abramova

Bunn

2021

Energies

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An important revenue stream for electric battery operators is often arbitraging the hourly price spreads in the day-ahead auction. The optimal approach to this is challenging if risk is a consideration as this requires the estimation of density functions. Since the hourly prices are not normal and not independent, creating spread densities from the difference of separately estimated price densities is generally intractable. Thus, forecasts of all intraday hourly spreads were directly specified as an upper triangular matrix containing densities. The model was a flexible four-parameter distribution used to produce dynamic parameter estimates conditional upon exogenous factors, most importantly wind, solar and the day-ahead demand forecasts. These forecasts supported the optimal daily scheduling of a storage facility, operating on single and multiple cycles per day. The optimization is innovative in its use of spread trades rather than hourly prices, which this paper argues, is more attractive in reducing risk. In contrast to the conventional approach of trading the daily peak and trough, multiple trades are found to be profitable and opportunistic depending upon the weather forecasts.

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Section: Background Researchmentioning

confidence: 96%

Optimal Daily Trading of Battery Operations Using Arbitrage Spreads

Abramova

Bunn

2021

Energies

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“…The marginal cost approach was first applied to evaluating and arranging coordination between PSHP and other kinds of electricity generation [14]. In consideration of the PSHP characteristics, Cohen and Wan [15] designed an algorithm for arranging large-scale PSHP use.…”

Section: Introductionmentioning

confidence: 99%

Wind Power Development and Energy Storage under China’s Electricity Market Reform—A Case Study of Fujian Province

Mou

2018

Sustainability

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This paper, based on the Fujian provincial 500 kV grid and part of the 220 kV grid and the key power plants, including hydro, coal, nuclear, gas, wind and pumping and storage hydro powers (PSHP) connected to the grid, constructs an independent electricity market model. Using data that are very close to reality about coal fired power production costs, along with data about power plants' technical constraints, this paper studies the effect of wind power on Fujian's provincial electricity market. Firstly, the paper analyzes the relationship between wind speed and wind power output and the effects of short-term power output fluctuation on frequency modulation and voltage regulation. Secondly, under supposition of the production costs following quadratic functions, the paper analyzes the effects of changes in wind power output on the electricity supply costs under optimal power flow. Thirdly, using the bidding model in the Australian Electricity Market Operator for reference and supposing that, in a competitive market, coal fired power plants can bid 6 price bands according to their capacity, the paper analyzes effects of wind power on electricity prices under optimal power flow, the stabilizing effects of PSHP and the minimum PSHP capacity needed to stabilize the electricity market. Finally, using a daily load curve, this paper simulates the electricity prices' fluctuation under optimal power flow and PSHP's stabilizing effect. The results show that, although PSHP has a large external social welfare effect, it can hardly make a profit. In the end, this paper puts forward some policy suggestions for Fujian province's wind and nuclear power development, PSHP construction and electricity market development.

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“…Various technologies exist i) pumped hydro [2], a technology already commercially available, suitable for large scale with fast response and high round trip efficiency but requiring significant investments and significant alteration of the natural habitat (mountain);…”

Section: Introductionmentioning

confidence: 99%

Experimental validation of the solid state substation with embedded energy storage concept

Klumpner

Rashed

et al. 2016

2016 IEEE Energy Conversion Congress and Exposition (ECCE)

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Abstract-This paper proposes the concept of integrating the energy storage within a Medium Voltage to Low Voltage solid state substation in order to provide new features compatible with the requirements from future more intelligent grids. The principles for the system development are presented and the role of each subsystem is explained. The experimental evaluation of the 1.9kVrms/25kVA substation with 1.5MJ of supercapacitor storage consists of subsystem tests showing the waveform quality, step transients as well as system tests of the efficiency, ridethrough and power peak shaving operation.

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Dispatching Pumped Storage Hydro

Cited by 14 publications

References 2 publications

Optimal Daily Trading of Battery Operations Using Arbitrage Spreads

Optimal Daily Trading of Battery Operations Using Arbitrage Spreads

Wind Power Development and Energy Storage under China’s Electricity Market Reform—A Case Study of Fujian Province

Experimental validation of the solid state substation with embedded energy storage concept

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