Optimal Wind Energy Scheduling under Volatile Resource and Market Price Conditions

Sai Goutham Golive, Reddy K. Srikanth, Lokesh Panwar, Rajesh Kumar, B. K. Panigrahi

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

1 Citation (Scopus)

Abstract

This paper presents an optimal wind energy scheduling approach for the independent system operator (ISO) with considering the volatile nature of the wind energy resource and energy bids in real time. The optimal schedule minimizes total generation cost, real time contractual compensation costs rescheduling costs etc. The scheduling problem is modelled as two step optimization problem where day Ahead (DA) market and real time (RT) market conditions are considered. This approach uses front end information (bid information) available in DA market and expected price, wind energy variation in the RT market system. The proposed mechanism is validated using IEEE 30 bus data system and system results justifies effectiveness of the proposed model compared to deterministic model for optimal posturing of wind energy generation in deregulated electricity market through reduced RT balancing costs associated with compensation and rescheduling costs.

Original languageEnglish
Title of host publicationProceedings of the 4th International Conference on Electrical Energy Systems, ICEES 2018
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages347-351
Number of pages5
ISBN (Print)9781538636954
DOIs
Publication statusPublished - 20 Aug 2018
Externally publishedYes
Event4th International Conference on Electrical Energy Systems, ICEES 2018 - Chennai, India
Duration: 7 Feb 20189 Feb 2018

Publication series

NameProceedings of the 4th International Conference on Electrical Energy Systems, ICEES 2018

Conference

Conference4th International Conference on Electrical Energy Systems, ICEES 2018
Country/TerritoryIndia
CityChennai
Period7/02/189/02/18

Keywords

  • Day Ahead (DA)
  • Independent System Operator (ISO)
  • Market Clearing Price (MCP)
  • Real Time (RT)
  • Spot market
  • Wind energy

ASJC Scopus subject areas

  • Electrical and Electronic Engineering
  • Control and Optimization
  • Renewable Energy, Sustainability and the Environment
  • Energy Engineering and Power Technology

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