Risk-constrained dynamic self-scheduling of a pumped-storage plant in the energy and ancillary service markets
S. J. Kazempour, M. Parsa Moghaddam, M. Haghifam, G.R. Yousefi, “Risk-constrained dynamic self-scheduling of a pumped-storage plant in the energy and ancillary service markets”, Elsevier- Energy Conversion & Management Journal, 50 (2009), pp. 1368-1375.
This work addresses a new framework for self-scheduling of an individual price-taker pumped-storage plant in a day-ahead (DA) market. The goal is achieving the best trade-off between the expected profit and the risks when the plant participates in DA energy, spinning reserve and regulation markets. In this paper, a set of uncertainties including price forecasting errors and also the uncertainty of power delivery requests in the ancillary service markets are contemplated. Considering these uncertainties, a new approach is proposed which is called dynamic self-scheduling (DSS). This risk-constrained dynamic self-scheduling problem is therefore formulated and solved as a mixed integer programming (MIP) problem. Numerical results for a case study are discussed.
Pumped-storage plant; Day-ahead (DA) market; Self-scheduling (SS); Dynamic self-scheduling (DSS) framework;