Robust stochastic bidding strategy for combined wind farm and energy storage system participating in spot markets with multiple uncertain factors considered

Authors

Yang WU, Electric Power Dispatch and Control Center of Yunnan Power Grid Co., Ltd., Kunming 650011, China
Yuan LENG, Energy Development Research Institute of China Southern Power Grid, Guangzhou 510663, China
Xiumin HUANG, School of Electric Power Engineering, South China University of Technology, Guangzhou 510640, China; Guangdong Key Laboratory of Green Energy Technology, South China University of Technology, Guangzhou 510640, ChinaFollow
Zhilin LU, Energy Development Research Institute of China Southern Power Grid, Guangzhou 510663, China
Shuangquan LIU, Electric Power Dispatch and Control Center of Yunnan Power Grid Co., Ltd., Kunming 650011, China
Ziyang LIANG, Energy Development Research Institute of China Southern Power Grid, Guangzhou 510663, China
Mingbo LIU, School of Electric Power Engineering, South China University of Technology, Guangzhou 510640, China;Guangdong Key Laboratory of Green Energy Technology, South China University of Technology, Guangzhou 510640, China

Keywords

combined wind farm and CAES system; day-ahead, intraday, and real-time market; robust stochasticbidding model; column and constraint generation algorithm; conditional value at risk

Abstract

Wind power enterprises struggle to guarantee their revenue in the electricity spot market due to the reverse peak regulation characteristic and the uncertainty of wind power.To address these issues, the advantages of compressed air energy storage （CAES） including large capacity, long service life, low cost, and high efficiency are utilized, and a biddin g strategy for the combined wind farm and CAES to jointly participate in the day-ahead, intraday, and real-time markets is proposed.With the goal of maximizing the system ’s revenue in the spot market, typical scenarios are used to describe the uncertainty of wind power output and intraday electricity price, and an uncertainty set is used to describe the uncertainty of day-ahead electricity price.With the operational constraints of wind power and energy storage considered, a risk-averse robust stochastic bidding model is established, and the column and constraint generation （C&CG） algorithm is adopted to solve it.A case study is carried out on a combined wind farm and CAES system to verify that the proposed method can determine a reasonable bidding strategy to guarantee the revenue of the wind storage system.

DOI

10.19781/j.issn.1673-9140.2025.05.026

First Page

272

Last Page

283

Recommended Citation

WU, Yang; LENG, Yuan; HUANG, Xiumin; LU, Zhilin; LIU, Shuangquan; LIANG, Ziyang; and LIU, Mingbo (2025) "Robust stochastic bidding strategy for combined wind farm and energy storage system participating in spot markets with multiple uncertain factors considered," Journal of Electric Power Science and Technology: Vol. 40: Iss. 5, Article 26.
DOI: 10.19781/j.issn.1673-9140.2025.05.026
Available at: https://jepst.researchcommons.org/journal/vol40/iss5/26