Resource scheduling in deregulated market with uncertain wind energy generation

K. Srikanth Reddy; Lokesh Kumar Panwar; B. K. Panigrahi; Rajesh Kumar

doi:10.1109/SCEECS.2016.7509279

Resource scheduling in deregulated market with uncertain wind energy generation

K. Srikanth Reddy
, Lokesh Kumar Panwar
, B. K. Panigrahi
, Rajesh Kumar

Indian Institute of Technology Delhi
Malaviya National Institute of Technology

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

3 Citations (Scopus)

Abstract

Ever increasing thrust on exploration of new and renewable energy resources resulted in remarkable capacity additions of wind energy generators. Now, the challenge that is being faced by electricity markets in accommodating available wind power is with the inheritant uncertainty associated with wind generation. In this paper, such uncertainty is handled by assessing the risk of independent system operator (ISO)/ transmission system operator (TSO). The risk of scheduling uncertain wind energy is modeled as balancing cost for ISO in real time market as a function of expected real time energy bids of conventional/thermal generators. The proposed approach is simulated on IEEE 30 bus system and results are compared with deterministic scheduling approach. The effectiveness of proposed approach for wind energy scheduling in day ahead (DA) market is reflected in reduced cost for system operator. It is also observed that, cost savings for ISO increased with an increase in wind uncertainty. However, the cost effectiveness of wind scheduling has reduced the scheduled wind energy in DA market. Therefore, percentage of savings increases with uncertainty margin in the forecasted wind energy at a cost of reduction in scheduled wind energy in DA market.

Original language	English
Title of host publication	2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016
Editors	Siddharth Saxena
Publisher	Institute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)	9781467379182
DOIs	https://doi.org/10.1109/SCEECS.2016.7509279
Publication status	Published - 11 Jul 2016
Externally published	Yes
Event	2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016 - Bhopal, India Duration: 5 Mar 2016 → 6 Mar 2016

Publication series

Name	2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016

Conference

Conference	2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016
Country/Territory	India
City	Bhopal
Period	5/03/16 → 6/03/16

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy

Keywords

Day ahead market
Wind energy scheduling
balancing costs
deregulated market
independent system operator (ISO)
resource scheduling
transmission system operator (TSO)

ASJC Scopus subject areas

Energy Engineering and Power Technology
Computer Science (miscellaneous)
Computer Networks and Communications
Electrical and Electronic Engineering

Access to Document

10.1109/SCEECS.2016.7509279

Cite this

Reddy, K. S., Panwar, L. K., Panigrahi, B. K., & Kumar, R. (2016). Resource scheduling in deregulated market with uncertain wind energy generation. In S. Saxena (Ed.), 2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016 Article 7509279 (2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/SCEECS.2016.7509279

Reddy, K. Srikanth ; Panwar, Lokesh Kumar ; Panigrahi, B. K. et al. / Resource scheduling in deregulated market with uncertain wind energy generation. 2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016. editor / Siddharth Saxena. Institute of Electrical and Electronics Engineers Inc., 2016. (2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016).

@inproceedings{58962ba206c14dc6ba96b19272791c3a,

title = "Resource scheduling in deregulated market with uncertain wind energy generation",

abstract = "Ever increasing thrust on exploration of new and renewable energy resources resulted in remarkable capacity additions of wind energy generators. Now, the challenge that is being faced by electricity markets in accommodating available wind power is with the inheritant uncertainty associated with wind generation. In this paper, such uncertainty is handled by assessing the risk of independent system operator (ISO)/ transmission system operator (TSO). The risk of scheduling uncertain wind energy is modeled as balancing cost for ISO in real time market as a function of expected real time energy bids of conventional/thermal generators. The proposed approach is simulated on IEEE 30 bus system and results are compared with deterministic scheduling approach. The effectiveness of proposed approach for wind energy scheduling in day ahead (DA) market is reflected in reduced cost for system operator. It is also observed that, cost savings for ISO increased with an increase in wind uncertainty. However, the cost effectiveness of wind scheduling has reduced the scheduled wind energy in DA market. Therefore, percentage of savings increases with uncertainty margin in the forecasted wind energy at a cost of reduction in scheduled wind energy in DA market.",

keywords = "Day ahead market, Wind energy scheduling, balancing costs, deregulated market, independent system operator (ISO), resource scheduling, transmission system operator (TSO)",

author = "Reddy, \{K. Srikanth\} and Panwar, \{Lokesh Kumar\} and Panigrahi, \{B. K.\} and Rajesh Kumar",

note = "Publisher Copyright: {\textcopyright} 2016 IEEE.; 2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016 ; Conference date: 05-03-2016 Through 06-03-2016",

year = "2016",

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doi = "10.1109/SCEECS.2016.7509279",

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Reddy, KS, Panwar, LK, Panigrahi, BK & Kumar, R 2016, Resource scheduling in deregulated market with uncertain wind energy generation. in S Saxena (ed.), 2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016., 7509279, 2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016, Institute of Electrical and Electronics Engineers Inc., 2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016, Bhopal, India, 5/03/16. https://doi.org/10.1109/SCEECS.2016.7509279

Resource scheduling in deregulated market with uncertain wind energy generation. / Reddy, K. Srikanth; Panwar, Lokesh Kumar; Panigrahi, B. K. et al.
2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016. ed. / Siddharth Saxena. Institute of Electrical and Electronics Engineers Inc., 2016. 7509279 (2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

TY - GEN

T1 - Resource scheduling in deregulated market with uncertain wind energy generation

AU - Reddy, K. Srikanth

AU - Panwar, Lokesh Kumar

AU - Panigrahi, B. K.

AU - Kumar, Rajesh

PY - 2016/7/11

Y1 - 2016/7/11

N2 - Ever increasing thrust on exploration of new and renewable energy resources resulted in remarkable capacity additions of wind energy generators. Now, the challenge that is being faced by electricity markets in accommodating available wind power is with the inheritant uncertainty associated with wind generation. In this paper, such uncertainty is handled by assessing the risk of independent system operator (ISO)/ transmission system operator (TSO). The risk of scheduling uncertain wind energy is modeled as balancing cost for ISO in real time market as a function of expected real time energy bids of conventional/thermal generators. The proposed approach is simulated on IEEE 30 bus system and results are compared with deterministic scheduling approach. The effectiveness of proposed approach for wind energy scheduling in day ahead (DA) market is reflected in reduced cost for system operator. It is also observed that, cost savings for ISO increased with an increase in wind uncertainty. However, the cost effectiveness of wind scheduling has reduced the scheduled wind energy in DA market. Therefore, percentage of savings increases with uncertainty margin in the forecasted wind energy at a cost of reduction in scheduled wind energy in DA market.

AB - Ever increasing thrust on exploration of new and renewable energy resources resulted in remarkable capacity additions of wind energy generators. Now, the challenge that is being faced by electricity markets in accommodating available wind power is with the inheritant uncertainty associated with wind generation. In this paper, such uncertainty is handled by assessing the risk of independent system operator (ISO)/ transmission system operator (TSO). The risk of scheduling uncertain wind energy is modeled as balancing cost for ISO in real time market as a function of expected real time energy bids of conventional/thermal generators. The proposed approach is simulated on IEEE 30 bus system and results are compared with deterministic scheduling approach. The effectiveness of proposed approach for wind energy scheduling in day ahead (DA) market is reflected in reduced cost for system operator. It is also observed that, cost savings for ISO increased with an increase in wind uncertainty. However, the cost effectiveness of wind scheduling has reduced the scheduled wind energy in DA market. Therefore, percentage of savings increases with uncertainty margin in the forecasted wind energy at a cost of reduction in scheduled wind energy in DA market.

KW - Day ahead market

KW - Wind energy scheduling

KW - balancing costs

KW - deregulated market

KW - independent system operator (ISO)

KW - resource scheduling

KW - transmission system operator (TSO)

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DO - 10.1109/SCEECS.2016.7509279

M3 - Conference contribution

AN - SCOPUS:84981318253

T3 - 2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016

BT - 2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016

A2 - Saxena, Siddharth

PB - Institute of Electrical and Electronics Engineers Inc.

T2 - 2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016

Y2 - 5 March 2016 through 6 March 2016

ER -

Reddy KS, Panwar LK, Panigrahi BK, Kumar R. Resource scheduling in deregulated market with uncertain wind energy generation. In Saxena S, editor, 2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016. Institute of Electrical and Electronics Engineers Inc. 2016. 7509279. (2016 IEEE Students' Conference on Electrical, Electronics and Computer Science, SCEECS 2016). doi: 10.1109/SCEECS.2016.7509279

Resource scheduling in deregulated market with uncertain wind energy generation

Abstract

Publication series

Conference

UN SDGs

Keywords

ASJC Scopus subject areas

Access to Document

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Cite this