scholarly journals Simulation on Bidding Strategy at Day-Ahead Market

2014 ◽  
Vol 2014 ◽  
pp. 1-13
Author(s):  
Kazunori Sawai ◽  
Tetsuo Sasaki
Keyword(s):  
Demand Response ◽  
Low Cost ◽  
Price Sensitivity ◽  
Bidding Strategy ◽  
Small Companies ◽  
Market Prices ◽  
Power Generators ◽  
Bidding Strategies ◽  
Strategic Bidding ◽  
Market Simulation

In an electric power day-ahead market, market prices are not always cleared at marginal cost caused by the strategic bidding of generators. This paper presents the results of day-ahead market simulation by using a simple three-generation-companies’ model for the case of demand with price sensitivity and analysis of the profits depending upon bidding strategies. The results show that, without a demand response, generation companies with diverse generation can increase their profit by strategic bidding. Moreover, under this condition, even if the demand response is made sensitive, these characteristics do not change. It is clarified that one of these factors is the operating constraint of power generators. If the generation company’s low-cost power generators decrease, the company’s profit monotonically decreases as the speculated capacity increases. However, realizing this case requires an unreal demand response and many small companies without diverse generation. Unless the conditions above are satisfied, the wholesale power transactions only through a day-ahead market without price-sensitive demand mechanisms would create a sellers' market, where the sellers can easily manipulate the price.

scholarly journals Day Ahead Bidding of a Load Aggregator Considering Residential Consumers Demand Response Uncertainty Modeling

2020 ◽  
Vol 10 (20) ◽  
pp. 7310
Author(s):  
Zhaofang Song ◽  
Jing Shi ◽  
Shujian Li ◽  
Zexu Chen ◽  
Wangwang Yang ◽  
...  
Keyword(s):  
Demand Response ◽  
Electricity Consumption ◽  
Uncertainty Modeling ◽  
Physical Models ◽  
Bidding Strategy ◽  
Willingness To Participate ◽  
Demand Side ◽  
Bidding Strategies ◽  
Optimal Bidding ◽  
Residential Consumers

As the electricity consumption and controllability of residential consumers are gradually increasing, demand response (DR) potentials of residential consumers are increasing among the demand side resources. Since the electricity consumption level of individual households is low, residents’ flexible load resources can participate in demand side bidding through the integration of load aggregator (LA). However, there is uncertainty in residential consumers’ participation in DR. The LA has to face the risk that residents may refuse to participate in DR. In addition, demand side competition mechanism requires the LA to formulate reasonable bidding strategies to obtain the maximum profit. Accordingly, this paper focuses on how the LA formulate the optimal bidding strategy considering the uncertainty of residents’ participation in DR. Firstly, the physical models of flexible loads are established to evaluate the ideal DR potential. On this basis, to quantify the uncertainty of the residential consumers, this paper uses a fuzzy system to construct a model to evaluate the residents’ willingness to participate in DR. Then, based on the queuing method, a bidding decision-making model considering the uncertainty is constructed to maximize the LA’s income. Finally, based on a case simulation of a residential community, the results show that compared with the conventional bidding strategy, the optimal bidding model considering the residents’ willingness can reduce the response cost of the LA and increase the LA’s income.

scholarly journals Interval prediction algorithm and optimal scenario making model for wind power producers bidding strategy

2021 ◽  
Author(s):  
Azim Heydari ◽  
Gholamreza Memarzadeh ◽  
Davide Astiaso Garcia ◽  
Farshid Keynia ◽  
Livio De Santoli
Keyword(s):  
Power Systems ◽  
Wind Power ◽  
Optimization Algorithm ◽  
Prediction Algorithm ◽  
Bidding Strategy ◽  
Real World Data ◽  
Power Generators ◽  
Bidding Strategies ◽  
Grasshopper Optimization Algorithm ◽  
Grasshopper Optimization

AbstractNowadays, renewable energies are important sources for supplying electric power demand and a key entity of future energy markets. Therefore, wind power producers (WPPs) in most of the power systems in the world have a key role. On the other hand, the wind speed uncertainty makes WPPs deferent power generators, which in turn causes adequate bidding strategies, that leads to market rules, and the functional abilities of the turbines to penetrate the market. In this paper, a new bidding strategy has been proposed based on optimal scenario making for WPPs in a competitive power market. As known, the WPP generation is uncertain, and different scenarios must be created for wind power production. Therefore, a prediction intervals method has been improved in making scenarios and increase the accuracy of the presence of WPPs in the balancing market. Besides, a new optimization algorithm has been proposed called the grasshopper optimization algorithm to simulate the optimal bidding problem of WPPs. A set of numerical examples, as well as a case-study based on real-world data, allows illustrating and discussing the properties of the proposed method.

scholarly journals Assessing the Value of Demand Response in Microgrids

2021 ◽  
Vol 13 (11) ◽  
pp. 5848
Author(s):  
Isaías Gomes ◽  
Rui Melicio ◽  
Victor M. F. Mendes
Keyword(s):  
Decision Making ◽  
Energy Consumption ◽  
Energy Storage ◽  
Case Studies ◽  
Demand Response ◽  
Storage Systems ◽  
Computer Application ◽  
Market Prices ◽  
Proper Formulation ◽  
Operation Case

This paper presents a computer application to assist in decisions about sustainability enhancement due to the effect of shifting demand from less favorable periods to periods that are more convenient for the operation of a microgrid. Specifically, assessing how the decisions affect the economic participation of the aggregating agent of the microgrid bidding in an electricity day-ahead market. The aggregating agent must manage microturbines, wind systems, photovoltaic systems, energy storage systems, and loads, facing load uncertainty and further uncertainties due to the use of renewable sources of energy and participation in the day-ahead market. These uncertainties cannot be removed from the decision making, and, therefore, require proper formulation, and the proposed approach customizes a stochastic programming problem for this operation. Case studies show that under these uncertainties and the shifting of demand to convenient periods, there are opportunities to make decisions that lead to significant enhancements of the expected profit. These enhancements are due to better bidding in the day-ahead market and shifting energy consumption in periods of favorable market prices for exporting energy. Through the case studies it is concluded that the proposed approach is useful for the operation of a microgrid.

Selling Power System Flexibility: Ancillary Service and Real-Time Energy Market Challenges for Storage

2014 ◽  
Author(s):  
Brendan Kirby
Keyword(s):  
Power System ◽  
Demand Response ◽  
New Technologies ◽  
Service Providers ◽  
Market Design ◽  
Ancillary Service ◽  
Market Prices ◽  
Regulatory Changes ◽  
System Access ◽  
Power System Flexibility

Power system operators obtain the flexibility required to reliably balance aggregate generation and load through ancillary service and five-minute energy markets. Market prices are based on the marginal opportunity costs of the generators. This market design works well for generators but inherently fails for storage and demand response, denying these new technologies a fair opportunity to compete and denying the power system access to potentially lower cost reliability resources. Market design or regulatory changes may be required for storage and demand response to be viable ancillary service providers.

scholarly journals Brown Coal in Victoria, Australia and Maddingley Brown Coal Open Cut Mine Batter Stability

2020 ◽  
Vol 9 (3) ◽  
pp. 109-118
Author(s):  
Lei Zhao ◽  
Greg You
Keyword(s):  
Coal Seam ◽  
Brown Coal ◽  
Large Scale ◽  
Low Cost ◽  
Three Dimensional ◽  
Open Pit ◽  
Open Pit Mining ◽  
Mining Operations ◽  
Power Generators ◽  
Three Dimensional Finite Element

Brown coal is young, shallowly deposited, and widely distributed in the world. It is a fuel commonly used to generate electricity. This paper first reviews the resources and characteristics of brown coal in Victoria, Australia, and its exploitation and contribution to the economy or power supply in Victoria. Due to the shallow depth of the brown coal seam, e.g. very favorable stripping ratio, open pit mining is the only mining method used to extract the coal at low cost for power generators. With the large-scale mining operations, cases of batter failure were not rare in the area. From the comprehensive review of past failures, overburden batter tends to fail by circular sliding, coal batter tends to fail by block sliding after the overburden is stripped due to a weak water-bearing layer underneath the coal seam and tension cracks developed at the rear of the batter, and batter failure is typically coincided with peak raining seasons. Secondly, the paper reviews the case study of Maddingley Brown Coal (MBC) Open Cut Mine batter stability, including geology, hydrogeology, and hydro-mechanically coupled numerical modelling. The modelling employs three-dimensional finite element method to simulate the MBC northern batter where cracks were observed in November 2013. The comprehensive simulation covers an overburden batter, a brown coal batter, two rainfall models, and a buttressed batter. The simulated results agree well with observed data, and it is found that the rainfall at the intensity of 21mm substantially lowered the factor of safety of the coal batter.

scholarly journals Manufacturing of E-Glass/Epoxy Composite LSU-03 Propeller Using Hand Lay-up Method

AVIA ◽  
2021 ◽  
Vol 2 (2) ◽  
Author(s):  
A Z Dwi ◽  
H Syamsudin
Keyword(s):  
Mass Balance ◽  
Volume Fraction ◽  
Epoxy Composite ◽  
Low Cost ◽  
Fibre Volume Fraction ◽  
Fibre Volume ◽  
Small Companies ◽  
Balance Point ◽  
Product Compatibility

Hand lay-up method is frequently used by small companies. It is due to its flexibility and low-cost considerations. One of the qualities problems that normally arises is the product unevenness. This study was carried out to analyse this variation on manufacturing E-glass/epoxy plates specimen and propeller product. Void and fibre volume fraction of manufactured plates are measured based on ASTM-D2734. Propellers of LSU-03 aircraft were manufactured and analysed to find out the uniformity of the product in terms of its mass and size. To determine product compatibility with the design, the geometry and the thickness were measured at several points of propeller. In addition to this, a balancing process is carried out to find out the mass balance point.

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