Open AccessOptimal dispatch model considering the bidding uncertainty of wind power in deregulated power system
Author(s) -
Xia Xiang,
Lin You,
Fang Jianliang,
Jiang Wei,
He Yingjing,
Shang Nan,
Ding Yi
Publication year - 2017
Publication title -
the journal of engineering
Language(s) - English
Resource type - Journals
ISSN - 2051-3305
DOI - 10.1049/joe.2017.0758
Subject(s) - bidding , wind power , electric power system , computer science , randomness , profit (economics) , electricity , reliability engineering , mathematical optimization , power (physics) , engineering , economics , microeconomics , mathematics , electrical engineering , statistics , physics , quantum mechanics
With the deepen penetration of wind power, wind farms are gradually participating in electricity market. It is essential to consider the bidding uncertainty of wind farms in power system dispatch. This study proposes an optimal real‐time dispatching model considering the bidding risk and the randomness of wind power in deregulated power system. Firstly, the profit‐risk model of wind power is constructed based on the Markowitz theory. Secondly, the uncertainty model of wind generation under different risks can be obtained from the bidding strategy. Then the multi‐state model of wind power is built based on the profit‐risk capacity model. Meanwhile, the uncertainty of wind power generation consists of the natural randomness. Therefore, the multi‐state model of wind power is the equivalence of both the multi‐state model from the bidding strategy and the multi‐state model of the forecast wind power. Lastly, the optimal power flow is adopted to minimise the operating cost of power system based on the above multi‐state models of wind power, as well as the conventional generators and load forecast. The modified IEEE 118‐bus network is used to demonstrate the effectiveness of the proposed model.