Bidding Strategy of Wind-Photovoltaic-Storage in Power Spot Market Considering the Impacts of Coal Price Uncertainties

The fluctuation of coal prices significantly affects the cost dynamics of traditional thermal power in the electricity market, which can affect the market price of electricity through marginal costs. Moreover, the renewable energy source (RES), such as wind turbine (WT), photovoltaic (PV), and energy storage (ES), grows rapidly, which can be allowed to bid in the power spot market as a whole. Therefore, a bidding strategy of WT-PV-ES generator participation in the spot market is proposed in this paper, where the uncertainties of coal prices are considered. Firstly, the uncertainty of clearing price in electricity spot market is analyzed with unified clearing and clustering method proposed, which considers coal spot and annual market differences. Then, a stochastic optimization model is established considering the joint bidding of WT-PV-ES for clearing prices uncertainty scenarios. The proposed method aims to obtain a bidding strategy for the joint power generator that maximizes expected revenues in the spot market. To verify the effectiveness of the proposed method, a case study and discussion are provided. The effectiveness of proposed model is validated through the results.