Electricity Market Bidding Model for Joint Clearance of Wind Power and Energy Storage Plants

In response to the instability of wind power generation caused by uncertain factors and the high operating costs of energy storage stations, this paper is based on the game equilibrium theory of oligopoly competition, and establishes multi period stochastic game equilibrium models for wind power companies and EV aggregators to participate in bidding competition through VPP cooperation mode, as well as independent participation in bidding competition through non cooperation mode in the electricity market. Firstly, the article aims to minimize the total cost of clearing the bid as the objective function, introduces the principle of bidding deviation penalty, and establishes a joint bidding model including wind and storage; Secondly, in order to improve the efficiency of model solving and obtain the global optimal solution, the article uses improved particle swarm optimization algorithm and multi-objective particle swarm optimization algorithm with adaptive grid to solve the model; Finally, the Shapley value method is used to allocate benefits between wind power and energy storage. The results show that the joint bidding model between energy storage power stations and wind power can effectively reduce the operating costs of the system and significantly improve the generation revenue of complementary systems; The participation of energy storage power stations can alleviate the instability of wind power generation, solve the problem of wind power consumption, and improve the reliability of power supply in the power system.

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Publication Details

Published
2024-12-06
DOI
https://doi.org/10.1109/icips64173.2024.10900164
Citations
2
Primary Topic
Power Systems and Renewable Energy
Type
article
Field-Weighted Citation Impact
0.34
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article

Electricity Market Bidding Model for Joint Clearance of Wind Power and Energy Storage Plants

Yuqi Chen
2 citations
Power Systems and Renewable Energy
0.34
article

Electricity Market Bidding Model for Joint Clearance of Wind Power and Energy Storage Plants

Yuqi Chen
article en
2 citations

Abstract

In response to the instability of wind power generation caused by uncertain factors and the high operating costs of energy storage stations, this paper is based on the game equilibrium theory of oligopoly competition, and establishes multi period stochastic game equilibrium models for wind power companies and EV aggregators to participate in bidding competition through VPP cooperation mode, as well as independent participation in bidding competition through non cooperation mode in the electricity market. Firstly, the article aims to minimize the total cost of clearing the bid as the objective function, introduces the principle of bidding deviation penalty, and establishes a joint bidding model including wind and storage; Secondly, in order to improve the efficiency of model solving and obtain the global optimal solution, the article uses improved particle swarm optimization algorithm and multi-objective particle swarm optimization algorithm with adaptive grid to solve the model; Finally, the Shapley value method is used to allocate benefits between wind power and energy storage. The results show that the joint bidding model between energy storage power stations and wind power can effectively reduce the operating costs of the system and significantly improve the generation revenue of complementary systems; The participation of energy storage power stations can alleviate the instability of wind power generation, solve the problem of wind power consumption, and improve the reliability of power supply in the power system.

Huazhong University of Science and Technology (CN)
Affordable and clean energy
Openalex Percentile: Top 32%
Power Systems and Renewable Energy
0.34
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Electricity Market Bidding Model for Joint Clearance of Wind Power and Energy Storage Plants — Yuqi Chen · (2024) | TGRS Research Map | TGRS