IEEE PES International Conference on Innovative Smart Grid Technologies Europe - ISGT Europe 2024, Dubrovnik (Croatia). 14-17 October 2024
Summary:
Different probability distributions yield different outcomes of optimization problems under uncertainty such as the optimal bidding problem of RES-only Virtual Power Plant (RVPP). Robust Optimization represents uncertainties by sets, which are parameterized according to the assumed underlying probability distributions. This paper analyzes the impact of uncertain data related to energy and reserve market prices as well as non-dispatchable renewable production and demand on the outcomes of the optimal RVPP electricity market bidding problem. Different parameters related to the accuracy and shape of data forecast are analyzed and their impact on the RVPP bidding strategy is obtained by sensitivity analysis.
Spanish layman's summary:
Este articulo analiza el impacto de los datos inciertos relacionados con los precios del mercado de la energía y de las reservas, así como con la producción y la demanda de renovables no despachables, sobre los resultados del problema de la oferta óptima en el mercado de la electricidad de la RVPP. Se analizan diferentes parámetros relacionados con la precisión y la forma de la previsión de datos y se obtiene su impacto en la estrategia de oferta RVPP mediante un análisis de sensibilidad.
English layman's summary:
This paper analyzes the impact of uncertain data related to energy and reserve market prices as well as non-dispatchable renewable production and demand on the outcomes of the optimal RVPP electricity market bidding problem. Different parameters related to the accuracy and shape of data forecast are analyzed and their impact on the RVPP bidding strategy is obtained by sensitivity analysis.
Keywords: Renewable-only virtual power plant, robust optimization, data forecast sensitivity, energy and reserve markets.
Publication date: 2024-10-14.
Citation:
H. Nemati, P. Sánchez, L. Sigrist, A. Ortega, Impact of uncertain data in robust optimal bidding of RVPP in energy and reserve markets, IEEE PES International Conference on Innovative Smart Grid Technologies Europe - ISGT Europe 2024, Dubrovnik (Croatia). 14-17 October 2024.
