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Peer-to-peer energy trading between wind power producer and demand response aggregators for scheduling joint energy and reserve
Authors
Homa Rashidizadeh-Kermani
Miadreza Shafie-khah
Pierluigi Siano
Mostafa Vahedipour-Dahraie
Publication date
28 April 2020
Publisher
'Institute of Electrical and Electronics Engineers (IEEE)'
Doi
Cite
Abstract
In this article, a stochastic decision-making framework is presented in which a wind power producer (WPP) provides some required reserve capacity from demand response aggregators (DRAs) in a peer-to-peer (P2P) structure. In this structure, each DRA is able to choose the most competitive WPP, and purchase energy and sell reserve capacity to that WPP under a bilateral contract-based P2P electricity trading mechanism. Based on this structure, the WPP can determine the optimal buying reserve from DRAs to offset part of wind power deviation. The proposed framework is formulated as a bilevel stochastic model in which the upper level maximizes the WPP's profit based on the optimal bidding in the day-ahead and balancing markets, whereas the lower level minimizes DRAs' costs. In order to incorporate the risk associated with the WPP's decisions and to assess the effect of scheduling reserves on the profit variability, conditional value at risk is employed.©2020 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.fi=vertaisarvioitu|en=peerReviewed
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oai:osuva.uwasa.fi:10024/11156
Last time updated on 11/07/2020