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Title: Optimization of wind power producer participation in electricity markets with energy storage in a way of Energy 4.0
Authors: Gomes, Isaías
Pousinho, Hugo
Melício, Rui
Mendes, Victor
Keywords: Electricity markets
energy storage
mixed integer linear programming
stochastic optimization
wind power
Issue Date: Jan-2018
Publisher: SPRINGER
Abstract: This paper proposes a problem formulation to aid as a support information management system of a wind power producer having energy storage devices and participating in electricity markets. Energy storage can play an important role in the reduction of uncertainties faced by a wind power producer. Excess of conversion of wind energy into electric energy can be stored and then released at favorable hours. Energy storage provides capability for arbitrage and increases the revenue of the wind power producers participating in electricity markets. The formulation models the wind power and the market prices as stochastic processes represented by a set of convenient scenarios. The problem is solved by a powerful stochastic mixed integer linear programming problem. A case study using data from the Iberian Electricity Market is presented to show the aid of the formulation.
Type: bookPart
Appears in Collections:FIS - Publicações - Capítulos de Livros

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