Real-time Optimal Participation of Wind Power in an Electricity Market

Authors

Ting Dai, University of Nebraska-LincolnFollow
Wei Qiao, University of Nebraska-LincolnFollow
Liyan Qu, University of Nebraska-LincolnFollow

Date of this Version

2012

Citation

2012 IEEE Innovative Smart Grid Technologies - Asia (ISGT Asia), Digital Object Identifier: 10.1109/ISGT-Asia.2012.6303262

Comments

Copyright 2012 IEEE

Abstract

While integrating wind power into the electricity market can reduce the operational and fuel costs of the power system, it also increases the imbalance cost and the need for reserve. Due to this contradictory, there is a need for planning the amount of wind power in the power system. This paper proposes a model to determine the real-time optimal participation of wind power in an electricity market. This model assumes that the system operator will regulate the participation level of the wind power due to the increasing cost of reserve. Case studies are presented to demonstrate the use of the proposed model to determine the real-time optimal participation of wind power in a practical power system for various scenarios.