RT Journal Article
A1 Naiwei Gong
A1 Xianjue Luo
A1 Honglian Ma
A1 Qi Wang
A1 Kaiyan Wang

PB iet
T1 Optimal stochastic scheduling of thermal-wind GENCOs trading in the day-ahead market including bilateral contracts with BSS
JN IET Generation, Transmission & Distribution
VO 12
IS 13
SP 3330
OP 3338
AB With the traditional vertically integrated electric market transforming into a liberalised one, the generation side consisting of various generation companies (GENCOs) is separated from the grid. This transformation gives opportunity for GENCOs to enhance their own profits by expanding business. One example is to establish bilateral contracts directly with the end users. This study considers a thermal-wind GENCO trading with the grid in the pool-based electricity energy market and meanwhile signs bilateral contracts with a battery swapping station (BSS). The operation framework for this GENCO to maximise its profit under uncertain information is proposed. A two-stage stochastic model is adopted to formulate the profit of the GENCO with the uncertain wind power, electricity market price and stochastic BSS electricity demand. The stochastic problem is transformed into deterministic mixed-integer linear programme and solved by CPLEX. The impact of bilateral contract capacity, contract price, degree of uncertainties and the wind power penetration on the final profit is analysed. This work provides a novel operation framework for GENCOs, and provides feasible bidding strategy and scheduling under uncertain conditions, especially for GENCOs owning renewable energy.
K1 day-ahead market
K1 generation companies
K1 uncertain wind power
K1 wind power penetration
K1 CPLEX
K1 contract price
K1 vertically integrated electric market
K1 optimal stochastic scheduling
K1 thermal-wind GENCOs trading
K1 pool-based electricity energy market
K1 two-stage stochastic model
K1 electricity market price
K1 renewable energy
K1 deterministic mixed-integer linear programming
K1 battery swapping station
K1 bilateral contract capacity
K1 stochastic problem
K1 stochastic BSS electricity demand
DO https://doi.org/10.1049/iet-gtd.2018.0060
UL https://digital-library.theiet.org/;jsessionid=3s9f7xah7qrv2.x-iet-live-01content/journals/10.1049/iet-gtd.2018.0060
LA English
SN 1751-8687
YR 2018
OL EN