Journal
ENERGY
Volume 73, Issue -, Pages 958-967Publisher
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.energy.2014.06.110
Keywords
VPP; Two-stage stochastic programming; Risk; CVaR; Scenario based modelling; Uncertainty
Categories
Funding
- Commission for Energy Regulation
- Bord Gals Energy
- Bord na Mona Energy
- Cylon Controls
- EirGrid
- Electric Ireland
- EPRI
- ESB International
- ESB Networks
- Gaelectric
- Intel
- SSE Renewables
- UTRC
- Viridian Power Energy
- Science Foundation Ireland (SFI) SEES Cluster [SFI/09/SRC/E1780]
Ask authors/readers for more resources
VPP (Virtual Power Plant) is defined as a cluster of energy conversion/storage units which are centrally operated in order to improve the technical and economic performance. This paper addresses the optimal operation of a VPP considering the risk factors affecting its daily operation profits. The optimal operation is modelled in both day ahead and balancing markets as a two-stage stochastic mixed integer linear programming in order to maximize a GenCo (generation companies) expected profit Furthermore, the CVaR (Conditional Value at Risk) is used as a risk measure technique in order to control the risk of low profit scenarios. The uncertain parameters, including the PV power output, wind power output and day-ahead market prices are modelled through scenarios. The proposed model is successfully applied to a real case study to show its applicability and the results are presented and thoroughly discussed. (C) 2014 Elsevier Ltd. All rights reserved.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available