Risk-averse optimal bidding strategy for a wind energy portfolio manager including EV parking lots for imbalance mitigation

Creative Commons License

Cicek A., ERDİNÇ O.

TURKISH JOURNAL OF ELECTRICAL ENGINEERING AND COMPUTER SCIENCES, cilt.29, sa.2, ss.481-498, 2021 (SCI-Expanded) identifier identifier identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 29 Sayı: 2
  • Basım Tarihi: 2021
  • Doi Numarası: 10.3906/elk-2102-51
  • Dergi Adı: TURKISH JOURNAL OF ELECTRICAL ENGINEERING AND COMPUTER SCIENCES
  • Derginin Tarandığı İndeksler: Science Citation Index Expanded (SCI-EXPANDED), Scopus, Academic Search Premier, Applied Science & Technology Source, Compendex, Computer & Applied Sciences, INSPEC, TR DİZİN (ULAKBİM)
  • Sayfa Sayıları: ss.481-498
  • Anahtar Kelimeler: Electricity market, electric vehicle parking lots, optimal bidding, risk aversion, wind energy portfolio, POWER PRODUCER, MARKET
  • Yıldız Teknik Üniversitesi Adresli: Evet

Özet

In this study, an optimal bidding strategy for a wind energy portfolio manager (WEPM) including electric vehicle parking lots (EVPLs) that aims to maximize profits by trading in the day-ahead (DA) market and balancing market (BM) and through bilateral contracts, taking into account line capacities and risk management is proposed. The mentioned structure is modeled in mixed integer linear programming (MILP) framework, and the uncertainties regarding electric vehicle (EV) behavior, electricity market data, wind power generation are captured via a stochastic approach. To demonstrate the effectiveness of the model, several case studies are carried out considering Sweden and Turkey electricity market prices with different risk aversion factors and bilateral contract situations. In this manner, the important results as well as useful findings regarding the economic impacts of the proposed concept are analyzed in detail.