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Conference Paper: Strategic Behaviors of Wind Generators in a Stochastic Joint Power Market Equilibrium

TitleStrategic Behaviors of Wind Generators in a Stochastic Joint Power Market Equilibrium
Authors
Keywordsrenewable penetration
energy and reserve markets
a stochastic joint market equilibrium
wind generators' strategic behaviors
penalty scheme
Issue Date2019
PublisherIEEE. The Journal's web site is located at http://ieeexplore.ieee.org/xpl/conhome.jsp?punumber=1000581
Citation
2019 IEEE Power & Energy Society General Meeting (PESGM), Atlanta, GA, USA, 4-8 August 2019, p. 1-5 How to Cite?
AbstractWith the increase of wind penetration and the mature of wind technology, wind generators (WGs) will get involved in market competition and have nonnegligible impacts on the market equilibrium. This paper proposes a stochastic joint equilibrium model to depict markets with high renewable penetration, with the wind stochasticity formulated by scenario analysis. Since the stochasticity of wind calls for additional ancillary service provision, a joint equilibrium of energy and reserve markets is developed, and strategic behaviors of WGs are considered. A real-time penalty scheme is introduced to regulate WGs' strategic behaviors. Market equilibrium based on the above settings are demonstrated based on a numerical study.
Persistent Identifierhttp://hdl.handle.net/10722/289879
ISSN

 

DC FieldValueLanguage
dc.contributor.authorFang, X-
dc.contributor.authorHou, Y-
dc.contributor.authorLiu, K-
dc.contributor.authorGuo, H-
dc.contributor.authorChen, Q-
dc.date.accessioned2020-10-22T08:18:46Z-
dc.date.available2020-10-22T08:18:46Z-
dc.date.issued2019-
dc.identifier.citation2019 IEEE Power & Energy Society General Meeting (PESGM), Atlanta, GA, USA, 4-8 August 2019, p. 1-5-
dc.identifier.issn1944-9925-
dc.identifier.urihttp://hdl.handle.net/10722/289879-
dc.description.abstractWith the increase of wind penetration and the mature of wind technology, wind generators (WGs) will get involved in market competition and have nonnegligible impacts on the market equilibrium. This paper proposes a stochastic joint equilibrium model to depict markets with high renewable penetration, with the wind stochasticity formulated by scenario analysis. Since the stochasticity of wind calls for additional ancillary service provision, a joint equilibrium of energy and reserve markets is developed, and strategic behaviors of WGs are considered. A real-time penalty scheme is introduced to regulate WGs' strategic behaviors. Market equilibrium based on the above settings are demonstrated based on a numerical study.-
dc.languageeng-
dc.publisherIEEE. The Journal's web site is located at http://ieeexplore.ieee.org/xpl/conhome.jsp?punumber=1000581-
dc.relation.ispartofIEEE Power & Energy Society General Meeting (PESGM)-
dc.rightsIEEE Power & Energy Society General Meeting (PESGM). Copyright © IEEE.-
dc.rights©2019 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.-
dc.subjectrenewable penetration-
dc.subjectenergy and reserve markets-
dc.subjecta stochastic joint market equilibrium-
dc.subjectwind generators' strategic behaviors-
dc.subjectpenalty scheme-
dc.titleStrategic Behaviors of Wind Generators in a Stochastic Joint Power Market Equilibrium-
dc.typeConference_Paper-
dc.identifier.emailHou, Y: yhhou@hku.hk-
dc.identifier.authorityHou, Y=rp00069-
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1109/PESGM40551.2019.8973716-
dc.identifier.scopuseid_2-s2.0-85079063880-
dc.identifier.hkuros316709-
dc.identifier.spage1-
dc.identifier.epage5-
dc.publisher.placeUnited States-

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